The Truth Keeps Coming: When Will Courts Become Believers?

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Editor’s Comments and Practice Suggestions: On the heels of AG Eric Holder’s shocking admission that he withheld prosecution of the banks and their executives because of the perceived risk to the economy, we have confirmation and new data showing the incredible arrogance of the investment banks in breaking the law, deceiving clients and everyone around them, and covering it up with fabricated, forged paperwork. And they continue to do so because they perceive themselves as untouchable.

Practitioners should be wary of leading with defenses fueled by deceptions in the paperwork and instead rely first on the money trail. Once the money trail is established, each part of it can be described as part of a single transaction between the investors and the homeowners in which all other parties are intermediaries. Then and only then do you go to the documentation proffered by the opposition and show the obvious discrepancies between the named parties on the documents of record and the actual parties to the transaction, between the express repayment provisions of the promissory note and the express repayment provisions of the bond sold to investors.

Practitioners should make sure they are up to speed on the latest news in the public domain and the latest developments in lawsuits between the investment banks, investors and guarantors like the FHA who have rejected loans as not conforming to the requirements of the securitization documents and are demanding payment from Chase and others for lying about the loans in order to receive 100 cents on the dollar while the actual loss was incurred by the investors and the government sponsored guarantors.

Another case of the banks getting the money to cover losses they never had because at all times they were mostly dealing with third party money in funding or purchasing mortgages. It was never their own money at risk.

Three “deals” are now under close scrutiny by the government and by knowledgeable foreclosure defense lawyers. For years, Chase, OneWest and BofA have taken the position that they somehow became the owner of mortgage loans because they acquired a combo of WAMU and Bear Stearns (Chase), IndyMac (OneWest), and a combo of Countrywide and Merrill Lynch (BofA).

None of it was ever true. The deals are wrapped in secrecy and even sealed documents but the truth is coming out anyway and is plain to see on some records in the public domain as can be easily seen on the FDIC site under the Freedom of Information Act “library.”

The naked truth is that the “acquiring” firms have very complex deals on those mortgage loans that the acquiring firm chooses to assert ownership or authority. It is  a pick and choose type of scenario which is neither backed up by documentation nor consideration.

We have previously reported that the actual person who served as FDIC receiver in the WAMU case reported to me that there was no assignment of loans from WAMU, from the WAMU bankruptcy estate, or the FDIC. “if you are looking for an assignment of those loans, you are not going to find it because there was no assignment.” The same person had “accidentally” signed an affidavit that Chase used widely across the country stating that Chase was the owner of the loans by operation of law, which is the position that Chase took in litigation over wrongful foreclosures. Chase and the receiver now take the position that their prior position was unsupportable. So what happens to all those foreclosures where the assertions of Chase were presumed true?

Now Chase wants to disavow their assumption of all liabilities regarding WAMU and Bear Stearns because it sees what I see — huge liabilities emerging from those “portfolios” of foreclosed properties that were foreclosed and sold at auction to non-creditors who submitted credit bids.

You might also remember that we reported that in the Purchase and Assumption Agreement with the FDIC, wherein Chase was acquiring certain operations of WAMU, not including the loans, the consideration was expressly stated as zero and that the bid price from Chase happened to be a little lower than their share of the tax refund to WAMU, making the deal a “negative consideration” deal — i.e., Chase was being paid to acquire the depository assets of WAMU. Residential loans were not the only receivables on the books of WAMU and the FDIC receiver said that no accounting was ever done to figure out what was being sold to Chase.

Each of the deals above was complicated by the creation of entities (Maiden Lane LLCs) to create an “off balance sheet” liability for the toxic loans and bonds that had been traded around as if they were real.

Nobody ever thought to check whether the notes and mortgages recorded the correct facts in their content as to the cash transaction between the borrower and the originator. They didn’t, which is why the investors and the FDIC both now assert that not only were the loans not subject to underwriting rules compatible with industry standards, but that the documents themselves were not capable of enforcement because the wrong payee is named with different terms of repayment to the investors than what those lenders thought they were buying.

In other words, the investors and the the government sponsored guarantee organizations are both asserting the same theory, cause of action and facts that borrowers are asserting when they defend the foreclosure. This has been misinterpreted as an attempt by borrowers to get a free house. In point of fact, most borrowers simply don’t want to lose their homes and most of them are willing to enter into modifications and settlements with proceeds far superior to what the investor gets on foreclosure.

Borrowers admit receiving money, but not from the originator or any of the participants in what turned out to be a false chain of securitization which existed only on paper. The Borrowers had no knowledge nor even access to the knowledge that they were actually entering into a loan transaction with a stranger to the documents presented at the loan “closing.” This pattern of table funded loans is branded by the Truth in Lending Act and Reg Z as “predatory per se.” The coincidence of the money being received by the closing date was a reasonable basis for assuming that the originator was not play-acting, but rather actually acting as lender and underwriter of the loan, which they were certainly not.

The deals cut by Chase, OneWest and BofA are models of confusion and shared losses with the FDIC and other investors who participated in the Maiden Lane excursion. The actual creditor is definitely not Chase, OneWest nor BofA. Bank of America formed two corporations that merely served as distractions — Red Oak Merger Corp and BAC Home Loans and abandoned both after several foreclosures were successfully concluded by BAC, which owned nothing.

As we have previously shown, if the mortgage securitization scheme had been a real financial tool to reduce risk and increase lending, the REMIC trust would have ended up on the note and mortgage, on record in the office of the County Recorder. There would have been no need to establish MERS or any other private database in which trades were made and “trading profits” were booked in order to siphon off a large chunk of the money advanced by investors.

The transferring of paper does not create a transaction wherein a loan is proven or established in law or in fact. There must be an actual transaction in which money exchanged hands. In most cases (nearly all) the actual transaction in which money exchanged hands was between the borrower and an undisclosed third party entity.

This third party entity was inserted by the investment bankers so that the investment bank could claim ownership (when legally the loans already were owned by the investors) and an insurable interest in the loans and bonds that were supposedly backed by the loans. This way the banks could assert their right to proceeds of sale, insurance, and credit default swaps leaving their investor clients out in the cold and denying the borrowers the right to claim a reduction in the liability for their loan.

In litigation, every effort should be made to force the opposition to prove that the investor money was deposited into the a trust account for the REMIC trust and that the REMIC trust actually paid for the loans. Actually what you will be doing is forcing an accounting that shows that the REMIC was never funded and was never the buyer of the loans. Hence nobody in the false securitization chain had any ownership of the debt leading to the inevitable conclusion that for them the note was unenforceable and the mortgage was a nullity for lack of consideration and a lack of a meeting of the minds.

Once you get to the accounting from the Trustee of the Trust, the Master Servicer and the subservicer, you will uncover trades that involve representations of the investment bank that they owned the loans and in fact the mortgage bonds which were clearly pre-sold to investors before the first application for loan was ever received.

Thus persistent borrowers who litigate for the actual truth will track the money and then show that the cash transactions differ from the documented transactions and that the documented transactions lacked consideration. The only way out for the banks is to claim that they embraced this convoluted route as agents for the investors, but then that still means that money received in federal bailouts, insurance and credit default swaps would reduce the receivable of the actual creditors (investors) and thus reduce the amount payable by the actual borrowers (homeowners).

The unwillingness of the Department of Justice to enforce long standing laws regarding fraud and deceit, identity theft and other crimes, tends to create an atmosphere of impunity a round the banks and a presumption that the borrowers are merely technical objections of a certain number of documents not having all their T’s crossed and I’s dotted.

From a public policy perspective, one would have to concede that protecting the banks did nothing for liquidity in the marketplace and nothing for the credit markets in particular. Holder’s position, which I guess is also Obama’s position, is that it is better to allow average Americans to sink into poverty than to hold the banks and bankers accountable for their white collar crimes.

Legally, if the prosecutions ensued and the cases were proven, restitution would be ordered based not on some back-room deal but on approval of the Court. Restitution would clawback much of the capital of the mega banks who are holding that money by virtue of illegal transactions. And restitution would provide the only stimulus to the economy that would be fundamentally sound. Investors and borrowers would both share in the recovery of at least part of the wealth lost to the banks during the mortgage maelstrom.

I have no doubt that the same defects will appear in auto loans, student loans and other forms of consumer loans especially including credit card loans. The real objection of the banks is that after all this effort of stealing the money and the homes they might be forced to give it all back. The banks perceive that as a “loss.” I perceive it as simple justice applied every day in the courtrooms of America.

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136 Responses

  1. Anyone know of actual case or information supporting “…BAC Home Loans and abandoned both after several foreclosures were successfully concluded by BAC, which owned nothing.” I was convinced I needed a new loan with Chase but MERS records showed BAC as servicer and investor up to 2 years after closing. Chase variation claimed to be original lender and now difft variation of Chase claims to be the investor…the tip of the iceberg.

  2. What is the judge destroying….? It must be fraud because there is no discovery, there are no trusts or trustees.

  3. The homeowners were not borrowers Abby because the FED Defaulted in our names and did not notify us they destroyed their contracts with us. Then they went on to destroy the value of everything we paid for by committing a quadrillion dollars in derivatives fraud on Wall Street with our unauthorized signatures that were in reality….not our signatures, but were our autographs…..they counterfeited and forged documents…committed massive Securities Fraud to gain unjust enrichment without our knowledge or consent. These are serious crimes…they are Felonies in any State.

  4. Keep in mind that when the judge is preserving the post 2003 documents and files it is ONLY for certain banking entities which have subpoenas. He is not preserving files or documents for homeowner/borrowers. Read the order very very carefully.

    here is a list of the subpoena parties that the order refers to:
    The Subpoena Parties are as follows: Ace Securities Corp., Ally Financial, Inc., Ally Securities LLC, Asset Backed Funding Corp., Asset Backed Securities Corporation, Banc of America Funding Corp., Bank of America Corporation, Bank of America, N.A., Barclays Bank PLC, Barclays Capital, Inc., Bear Stearns & Co., Inc., Bear Stearns Asset Backed Securities I LLC, Citigroup Global Markets Realty Corp., Citigroup Global Markets, Inc., Citigroup Mortgage Loan Trust, Inc., Citigroup, Inc., Credit Suisse (USA), Inc., Credit Suisse First Boston Mortgage Acceptance Corporation, Credit Suisse First Boston Mortgage Securities Corporation, Credit Suisse Holdings (USA), Inc., Credit Suisse Securities (USA) LLC, DB Structured Products, Inc., Deutsche Bank AG, Deutsche Bank Securities, Inc., DLJ Mortgage Capital, Inc., EMC Mortgage LLC, First Franklin Financial Corp., First Horizon Asset Securities, Inc., First Horizon National Corporation, First Tennessee Bank National Association, FTN Financial Securities Corporation, GMAC Mortgage Group, Inc., Goldman Sachs & Co, Goldman Sachs Mortgage Company, Goldman Sachs Real Estate Funding Corp., GS Mortgage Securities Corp., HSBC Bank USA, NA., HSBC Markets (USA), Inc., HSBC North America Holdings, Inc., HSBC Securities (USA), Inc., HSBC USA, Inc., HSI Asset Securitization Corporation, J.P. Morgan Acceptance Corporation I, J.P. Morgan Mortgage Acquisition Corporation, J.P. Morgan Securities LLC, JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., Long Beach Securities Corporation, Merrill Lynch & Co., Inc., Merrill Lynch and Pierce Fenner & Smith, Inc., Merrill Lynch Government Securities, Inc., Merrill Lynch Mortgage Capital, Inc., Merrill Lynch Mortgage Investors, Inc., Merrill Lynch Mortgage Lending, Inc., Morgan Stanley, Morgan Stanley & Co. Incorporated (n/k/a Morgan Stanley & Co. LLC), Morgan Stanley ABS Capital I, Inc., Morgan Stanley Capital I, Inc., Morgan Stanley Mortgage Capital Holdings LLC (successor-in-interest to Morgan Stanley Mortgage Capital, Inc.), Mortgage Asset Securitization Transactions, Inc., Mortgage IT Securities Corp., Nomura Asset Acceptance Corporation, Nomura Credit & Capital, Inc., Nomura Holding America, Inc., Nomura Home Equity Loan, Inc., Nomura Securities International, Inc., RBS Securities, Inc., Saxon Asset Securities Company, Saxon Capital, Inc., Saxon Funding Management LLC, Securitized Asset Backed Receivables LLC, SG Americas Securities Holdings LLC, SG Americas Securities LLC, SG Americas, Inc., SG Mortgage Finance Corp., SG Mortgage Securities LLC, Structured Asset Mortgage Investments II, Inc., Taunus Corporation, The Goldman Sachs Group, Inc., UBS Americas, Inc., UBS Real Estate Securities, Inc., UBS Securities LLC, WaMu Asset Acceptance Corporation, WaMu Capital Corporation, and Washington Mutual Mortgage Securities Corporation.



  6. No Allonge can be true with no Security Agreement. That transfer is in fact racketeering in Securities Fraud.

  7. That’s why the legal assignment is the security instrument… prevents multiple claims….and is why there can only be one trust & one trustee per note & mortgage… to prevent multiple claims on one property. That is why the Issuer Defaulted and destroyed the Originals and used MERS to try and cover up their multiple felonies. The banksters can’t hide from their massive fraud against us, they own them.

  8. Five different parties claiming ownership of of one little old note … One who Mis Identifed itself on the Note, Broker (No proof of Claim). Two is the CW ownership of the Note filed in 08 judicial proceedings (No Proof of Claim). Three is Mers claim of ownership of the Note (No Proof of Claim). Four is BAC ownership of the Note (No Proof of Claim). Fitth is BOAna ownership of the Note (No Proof of Claim). They had me running in circles … Ring around the Rosie…. faster and faster. Will the Real Party who has Actual Losses Please Step Forward! Ouch!! I Just Stepped On My Own Toe! squeeeeeeels.

  9. Tee hee….. gone girl…

  10. The notes and mortgages are altered on their face for many reasons but, one reason is all i need…..They destroyed the Original Contracts and never notified me…….They never sent me a Notice of their Default in my name at the Origination as evidenced by no Legal Agreement …… the Originals are in fact, Securities Frauds. That is what they are hiding.

  11. I would more like suggest … that there are things missing from their presentation. Not that they were altered….. Well… the deed was altered, but not the note or mortgage. I’ve got them with two stories…. hahaha …. I have two endorsement claims one with an allonge (true) and the other endorsement claim via assignment of the Note (Fraud)X3. Problem is …. no one will produce those assignments that was ut umm… under oath … attatched to this complaint filed back in 2008.

  12. Those typos and the redacting are only part of the crime…..the terms of their contract changed without notice of default as apparent there are no legal agreement’s. That means they destroyed the originals and they are now Securities Frauds.

  13. hahaha … my copies of the originals from the closing file match the signed ones aka the Signed Originals. Yep! Yep! No Changes At All! None! Notta! Try Again!!

  14. You are right….I am not a fool……the Originals have been altered….that is why they are destroyed and that is apparent on the face of the altered, redacted copies…….the security does not exist….which is the legal trust agreement …..that is why the wet inks no longer exist. So….pay up crooks..!

  15. Stripes, you are a Fool if you think they Shredded all the Origional Notes. The Master Servicer has them locked up in the vault. The copies used in court were only a short cut to speed things along… to much trouble for the MS to find the Key and unlock the vaults and drag out the originals ….

  16. I know they think they are Gods but, they are not. They can’t turn water into wine ….. or turn Securities Frauds into Securities.

  17. Tell them to send you the receipt…..the original paid note & mortgage stamped paid from the U.S. Treasury Department. …..the Security is the legal trust agreement …. not copies of the original note and mortgage that have been altered……without the legal trust agreements…. these mortgages & notes are Securities Frauds….and can’t be Securitized now at this late date.

  18. Yeah.. Yeah.. Neil. I know, .. I put the mortgage payments to good use … spurred the economey, created job growth and managed to save more in a month than we had in over 30yrs. Some risks are to risky thou … I have learned my lesson the hard way.

  19. NO….NO…..& NO….. They are going to pay me for harm done and permanent harm intended…….Clear titles plus 3x the face value of the notes plus all costs associated with their criminal fraud suits against me, including all property tax bills…. they destroyed my home… maintenance to my property has accrued since the onset of their terrorist acts upon me & my family and they owe me an innumerable amount of money for their numerous felony crimes they committed in my name with my unauthorized autograph. They all belong in prison as well. This was no small crime by any means.

  20. @iwantmynvp

    True…4 years after I first asked OneWest “who owns my loan”, they finally say: “The securitization trust is the owner of your loan.”
    Hmmm…and the 1099A tax form says OneWest is “lender”…hmmm…

  21. There was a song with the lyric…. I built it one piece at a time and it didn’t cost me a dime.. That is the business model of the bank owners….they built an empire off the backs of all of us and it didn’t cost them a dime. I am not paying for their crimes with my property…they can put all of their criminal debt fraud they created from my unauthorized autograph back where the sun don’t shine. I will never accept it, or them into my life ever again. Their crime spree should not go unpunished by anyone.

  22. Every Attorney has said: Be prepared to Pay the Actual Balance Owed. As Neil said: In most cases it is very little or nothing. WOW! Can you believe that? If you dont have very little or nothing, your gonna need a new invester. Yep! Yep! And in rare cases … The Actual Balance Owed is not from the Homeowner to the Buttwipe, but from the Buttwipe to the Homeowner. Yep! Yep! No Need to Be Greedy! Get A Lawyer!

  23. RE: this is about my own personal quest to end TOO BIG TO FAIL….from ever being any part of my life for the good of myself and for the good of mankind.

    No one should accept any part of their crime spree or hand them their property in exchange for a life of fraudulently induced poverty and rentership….

    Miracles happen everyday! I Agree!!! Get a Lawyer!! 🙂

  24. I did not sow the bad seeds, the bank owners did, and I am not accepting what they have reaped…..their bad fruit because, reaping their bad fruit means a life of fraudulently induced poverty and slavery to their massive crime spree. No …

  25. I will never settle for fraud or any fixes for mass criminality by these bank owner crooks ….NEVER…… This is no longer about the property…this is about the principle of this entire matter. This goes way beyond what your pea sized brain can comprehend…..for me this is now about my freedom, liberty and independence from these crooks……this is about my own personal quest to end TOO BIG TO FAIL….from ever being any part of my life for the good of myself and for the good of mankind.

    No one should accept any part of their crime spree or hand them their property in exchange for a life of fraudulently induced poverty and rentership….

  26. Dear God, Give Me the Strength I Need to Keep From Slapping Her Silly! I know her just reward is coming, for We All Reap what We Sow! p.s. … I’m going to need a New Halo, I bent mine again.

  27. You mean hire a whatchamacallit attorney……? A bank owner fraud fixer attorney who works for these crooks……? Screw you guest…you are a goddamned crook…..MYOB & STOP TELLING ME WHAT TO DO…This is my fight…..not yours.

  28. It is a scam called the blame game…..the bank owners hide behind proxies and play a big game of pretend…it’s not me…it’s you…but it’s really me…but you can’t finger me because I am pretending to be you…..

  29. If you had an attorney … you would know that Stripes! And if you read Neils articles, he keeps telling other attorneys to check the status of these cases before proceeding.

  30. RE: …. the investors should be suing the bank owners who sent these nihilists out to destroy everyone.


    I thought I just said they did. WOW! Simple Stuff is Beyond a Mindless Brain!!!

  31. Can anyone think of another reason why the investors sued the Buttwipes…..? Hmmm…… Could it be because their perps got sloppy and the bank owners got fingered and got caught trying to walk away with the country….?

  32. Investments being drawn from sludge pools does not make SECURITIES FRAUD by the banks, their minions & cohorts LEGAL……….nor does Indorsement or Instruction guarantee massive SECURITIES FRAUD as entitlements …. the investors should be suing the bank owners who sent these nihilists out to destroy everyone.

  33. Investers + Homeowners = Blessed Homes and the End of TBTF.

  34. If I was an Invester who sued and settled and I knew my own home was involed in that suit. I would certainly want a credit for the loss I agreed to take. Seems Reasonable to Me! Right?

  35. Can anyone else think of another reason the Investers sued the Buttwipes? HMMM

  36. The truth doesn’t lie……..99.9% of the bloggers here are bank owner/investor trolls who are bound & determined to destroy the country with their ongoing criminal cover up……

    Truth be told, speaking the truth has become a revolutionary act in America and these crooks are using our own Constitutional Rights against us by posing as Americans.

    They are not Americans, they are brainwashed by these FOREIGN IMPOSTERS disguised as Americans or are themselves FOREIGN IMPOSTERS.

    When you know the truth, the truth is undeniable …. FOREIGN IMPOSTERS who call themselves INVESTORS have hijacked our Constitutional Republic.

  37. “We The Stripper” didnt fund nuttin!! The invester funds were pooled as Neil said… in a Sludge Pool, the banks drew from the it and funded the loans (with invester money). Any Guesses Why You Will Lose Your Home Moron??

  38. The investors did not fund any property loans………the U.S. TAXPAYERS FUNDED THEM…..AKA …..THE ORIGINATION FRAUD…..The investors paid to play and funded the banks fraudulent investments…..classic ponzi scheme with the revenue flows from our properties … the banks overissued investments in the revenue flows and destroyed the value of the properties. The banks never paid for anything, so they did not care about destroying the place. It was all about stealing everything from the American people by the banking cartel owners who invest in all the fraud they commit through many proxies…

    The main objective is to make everyone believe the big lies that banks lend money and investment is ownership….Black is white & white is black ….wink, wink….

  39. @Trespass,

    With all due respect, whatever they are, the imbecile’s motives to screw up with this site are completely irrelevant, be them hunger, extremely marginal intelligence, greed, fear or whatever else.

    The fact of the matter, she is useless, has been kicked out of several websites in the past and has been a pest for almost a year (ever since Garfield was interviewed on TV). When one person asks her to shut up, there’s room for mercy. When everyone on the site has been asking, begging, pleading her to stop her constant regurgitation of Kudlow, CNN, CBS or what not for months (we all here have a TV. We choose to watch whatever we want. No one has the right to impose on us any of those programs.) and, in return, has been insulted, called names, berated, lectured, moralized and what not, the tone will be raised until people get violent. The imbecile is pushing people into anger and, at times, she appears to be succeeding.

    You may feel enlightened and merciful, you may even be the second coming for all I know, it makes absolutely no difference to me: don’t moralize please. It is not your place. And if taking pity to the imbecile is your calling in life, exchange private e-mails and go counsel her out of here. So far, at least 15 or us have asked her to stop her nonsense. All it does in inflame her even more. No one has the right to force his/her mental illness on others. that’s why we have psychiatric hospitals in this country.

    Thank you in advance.

  40. Elaine Williams, you are a senile old coot who undoubtedly has been eating out of teflon pans for too long and that has destroyed the wiring in your brain….booze and pills will only further destroy your brain and soon you will land in the old folks home where these crooks will be collecting our stolen wealth instead of you.

    You are wasted in more ways than one.

    Thankfully there are some free spirits left in this country who know the truth about this scam and that makes your stuffy old views as old and stale and unsustainable as the debt these crooks are trying to steal everything from us with.

    Your date with these hellraisers will come soon enough. Then you will get it.

  41. Neil…. as a Invester yourself, you have repeatedly posted where the monies came from to fund the loans. I also know as an invester you are jumping in and helping people keep their homes. Why no help for the Stripper? Ohhh …. Right! Winks!

  42. I have obviously struck a nerve again, the investor trolls are attacking.

    These old curmudgeons and their closed minded views have nearly destroyed our great nation and its people.

    The truth is, and what their small closed minds fail to comprehend is, the more the middle class is wiped out, the closer they come to being destroyed as well.

    They should be shuddering at what these politicians have allowed instead of riding their high horse that is leading to their own destruction.

    What more can be expected from selfish, useless idiots who are brainwashed into thinking investment is a lifetime revenue flow from us to them. They really believe they are entitled to what was robbed from all of us by this banking cartel and everyone else but them should pay for it with their livelihoods, businesses, property and life savings.

    Wake up and smell the tyranny and oppression that the banking debt cartel have caused, allowed by the traitor politicians.

    The banking cartel have stolen $60.4 trillion of our wealth since 2008 reported CNBC……you are hating on the wrong people.

    Know your enemy and it is certainly not me. It is your own closed minded view that investment is ownership. That is not true in America, and never has been because WE THE PEOPLE PAY FOR EVERYTHING UPFRONT AT THE ORIGINATION……Repaying for things we already paid for creates totalitarianism ….

    The Federal Reserve/Wall Street cartel is a wealth stealing criminal operation. They are robberbarons for the rich that don’t pay for anything and don’t lend anything of value, therefore they don’t own anything and do not sell anything but casino chips to gamble with in their casino on Wall Street and they always clean you out because their game is rigged.

  43. @Aceshgh123 – you hit the nail on the head. Stripes! For the love of God – please get on some medication! We are here for guidance and advice – not your constant back to back posts! Please stop!

  44. “That with eyes to see can see what is NOT shown to you.”

    Whaaa T F? Listen, it’s really very, very extremely simple….it’s about FORECLOSURE – and DEFENDING AGAINST IT! Tactics and tricks, for and against.

    What it’s not about:

    – Black Dynasties
    – The Vatican
    – Straps/assvent’s each and every thought
    – God
    – Evil
    – Crucifixion
    – Satan
    – Christ
    – CNBC
    – Kudlow

    I could go on and on, I won’t.

    And I’m sure this comment is going to be met fast and furious about how anyone has the God-given right to post whatever they want. These comments are totally disingenuous when it’s considered that this is a private website hosted by an extremely forgiving gentleman who has obviously decided against censure for whatever reason.

    Not to mention that many of you simply don’t understand the goal of shills. It’s to distract, divide, and render meaningless their prey (websites) and further to cause those sites to be unreachable by the very people who need foreclosure relief, by scrambling the keywords that are necessary to come up in searches. So just because you found Neil Garfield and his valuable insider insights doesn’t mean that anyone else will be able to because of the hijacking that is taking place right before your eyes.

    @ Nabdulla, whatever. I have yet to see you post anything having to do with foreclosure defense, only diatribes in defense of stripes. And what exactly makes you think I give a flying fuck about your views on the “symbols on the “U.S. Federal Reserve Note”? What does any of this have to do with BAC and their inability to foreclose? Or Chase’s impotence as to WAMU? Take your conspiracies elsewhere.

  45. Christine,

    If true, and I’m not disputing or accepting, but if true, Stripes is not going to leave.

    If paid, Stripes will do the job and post and post until the shift is over.

    Whatever Stripes posts does not have to be read, nor commented on.

    Sometimes we create our own experiences by how we try to control another.

    I personally believe in Artificial Intelligence. I was on a site discussing shackles that are to come off and within ten seconds, there were three posts of a single conversation from three different posters.

    I’ll make it up. 1:10:03 JohnJohn said: The system is going down
    1:10:04 Obnoxious Rant said: Oh yeah, they are going down and they know it
    1:10:11 Real Name Jack said: I can’t wait to see the reset.

    I read it and called foul on how fast the three ‘supposedly’ different entities had posted so close to each other, because you have to take time to reload to see comments and it takes time to type a response so how can someone type so instantaneously unless they are sitting side by side and typing enter right after each other, but even then when you submit enter, you are supposed to get past the ‘prove you are not a robot’ stage of typing some characters or numbers.
    It could have been many who had moderation powers at the site and each were typing in response to what another said and again they were in close proximity, or someone manipulated the time on the blog.

    Either way, without the details of the transactions I could only speculate.

    Here’s the deal. Real people will work for food. They will do what we would consider disgusting jobs to earn an income. Proof is the t.v. show Dirty Jobs.

    Paid shills are paid to shill and if they don’t shill they lose their job, so you can darn near guarantee they will do a good shilling.

    This blog belongs to someone who is quick to moderate certain comments and posts and they have chosen not to block or moderate this poster, so it may be the intent of the blog owner to have this One here to keep the blog active, or maybe even keep it referenced in search engines since there are active posts day in and day out.

    It could be someone on staff for this blog owner, so that as more millions find this site, they will see it gets activity as soon as a post is made.

    The tone of Stripes posts led me to believe it was a male posting no matter how many times the female reference has been made. Stripes does not post as a female, not even a masculine female in my opinion.

    Things are not always as it seems, and if there is a lesson to learn from the Stripes encounter it would be; someone who doesn’t know you, do not know you no matter what name they use when referring to you. So name calling makes no sense to me. Call me an idiot and I would just know they don’t know me. I know what I know and I know what I have done and am capable of doing and no idiot can carry the wisdom and experience I have, so the term would be an oxymoron.

    I come to the blog periodically after there was a situation where two posters would bicker for hours on end every blog post.

    I have seen that behavior before. It two sides of the same coin. Either the same poster is having the back and forth dialogue post after post, or its two employees of the same firm, or two people working for the same cause and their job is to generate the ‘energy’ of anxiety from the many that visit the site.

    Solar energy is harnessed, the energy from foreclosing (stealing) and the anxiety it created in the neighborhood from dealing with the theft has been harnessed. Think of people that would wear a battery and it would stop working. We eat food to provide us with energy and that energy carries a great value for many types living on this planet.

    Let those comments slide like water off a duck’s back, but realize that in the darkest places are clues and sometimes Stripes reveals. Our goal is to use the constant chatter to learn what we can if we choose to see what is being revealed.

    That with eyes to see can see what is NOT shown to you.

    Trespass Unwanted, Corporeal, Life, Free, Independent, State, Alive, In being, Conscience, In Jure Proprio, Jure Divino

  46. ” Everybody is supposed to know the law except Her Majesty’s judges who have a Court of Appeal set over them to put them right. ”

    Glanville Williams, Criminal Law, General Part (1953), p. 386.

    So as far back as 1953 it was known judges don’t rule according to law and need appeals judges to put them in check?

    I personally, feel (know within) the first calling to court is by force when taking property for foreclosure and appeals is a agreement between the parties that there is a dispute and it attaches two unlikely parties together as if they are ‘familiar’ with each other.

    I’d rather stop at the ignorant judge and let him carry the spiritual (Divine) charge for forcing to unknown parties into a settlement where one gets unjust enrichment over the other.

    Trespass Unwanted, Corporeal, Life, Free, Independent, State, Conscience, In Jure Proprio, Jure Divino

  47. Nabdulla,

    Stripes is a shill whose job it is to screw up with LL site by posting anything and everything in order to prove to the banks that homeowners are all unbalanced deadbeats. Go back a few weeks or months and look at what she has been posting so far. Many people asked her very nicely to stop and go elsewhere and, in return, we have been insulted, called names and given hell. She’s been kicked out of several sites because she is a known shill and eventually, it becomes known.

    To put things into perspective: so far she’s proved to be a hateful bigot, racist, who hates everyone without exception. Wait until she knows that you are Moslem and see what happens…

    For some reason, Garfield tolerates that. We don’t. She has yet to contribute anything of value. Every so often we get too pissed and react violently. That’s it.

  48. The bank owners want no one to do anything good for mankind. They believe suffering is the only way to salvation but they don’t like to suffer. They are hypocrites. Their philosophy is evil and inhuman and is playing out in real life because they created it by many proxies. It is not right to make choices for others and cause mass suffering. They are playing God but they are not God. They have hijacked our power and are abusing our power and are using our power against us. That is not what life is about, controlling other people by stealing and hoarding their wealth. Impoverishment is the fruit of the bad works of evil doers.

  49. So pick a side guest… can’t fight fraudclosure and be their friend. That is quite dishonest. No excuses…pick a side.

  50. Guest…I disagree with almost nothing Neil posts….your comments are a different story all together….you change positions constantly. You can’t be with US and against US….you can’t be both.

  51. @ guest

    “guest, on March 13, 2013 at 10:03 pm said:
    nabdulla… Stripes aka Ivent verbally abuses and attacks anyone who disagrees with her. Give her time … your turn is coming. She has not managed to miss anyone yet.”

    Really ?? Thanks for the heads-up. Looking forward to it. 🙂

  52. U.S.A..all the way..!

  53. @ E. Tolle & christine

    By the way, either one of you ever studied or researched into the meanings of the symbols on the “U.S.” Federal Reserve “Note” ??
    As stripes would say,

  54. Obama spoke today between two American flags…I love it…!

  55. The bank owners/shareholders/bondsholders/investors have alot of balls telling us what to do because we pay and Labor for everything…. these crooks monetized everything including us.. without our knowledge or consent. They are criminals.


    The trolls don’t care if you rip Obama, the Politicians or the Vatican…just don’t rip the investors…and the truth is, they are all investors in the scam …. They are all the pot calling the kettle black and are all funded by all of us….The big secret is out about the bank owners….they are the biggest shareholders/bondsholders and investors in everything we fund and pay for openly and by many proxies. That give themselves the power by stealing from us and investing in what we pay and labor for and secretly direct this scam from behind the scenes …. by investing openly and by many proxies from behind the scenes. The bank owners are both public & private scam artists…..These are now open secrets.

    They all have a lot of balls telling all of us what to do.

  57. That’s because Neil & a few others are being honest here and that’s when the trolls attack. They are like viscious attack dogs about the truth.

  58. I only defend myself when attacked. This blogsite is 99.9% bank owner/investor trolls.

  59. Who owns Goldman Sachs…? Goldman Sachs is one of the largest SMOM/Vatican/Jesuit banking proxies in the world. Who controls and directs the SMON/VATICAN/Jesuits….? The bank owners do. They control everything by investing and they do that by investing in everything we own, pay for and Labor for. The 8 largesse banking families invest in the large institutional investors….the big four in the U.S. are Fidelity, Vanguard, State Street and Blackrock. The bank owners buy shares in the big banks and corps and the big banks and corps buy shares in other smaller corps like MERS and appoint the directors of these Corps…. the bank owners hide behind the scenes. That way they use us to fund and build the Corps they invest in. For example, the biggest shareholder/bondsholder/investor in Fannie Mae is THE INTERNATIONAL MONETARY FUND reported Bloomberg News. The largest Shareholder in Citigroup is the Saudis….they all get rich off of our backs.

  60. nabdulla… Stripes aka Ivent verbally abuses and attacks anyone who disagrees with her. Give her time … your turn is coming. She has not managed to miss anyone yet.

  61. Oh..Wait, You Can’t! Its all in Your Head! That is Your problem Stripes…. you accuse without anything to back it up but your opinion! Reminds me …. Buttwipes do the same Thing and Hope no one will Question them. Pffft! Why do you even bother coming here … you disagree with almost everything Neil Posts?

  62. @ E. Tolle

    “No moron, you are asking everyone to pay attention to you and what you deem important.”

    Disagree….that “stripes” is a “moron”. Indeed, quite the opposite. A VERY WELL INFORMED, educated to “reality” and highly intelligent person. What I perceive is an individual who has managed to “de-program” her mind.

    @ christine

    “Moron, stop with your campaign of disinformation and idiotic religious crap…. Layola had nothing to do with Jesus’ crucifixion.”

    Disagree….again, not a “moron”. She doesn’t say that Layola had anything to do with the “crucifixion”. What she DOES SAY is that, “THEY believe in the philosophy of great human suffering.” . Which IS TRUE. This “philosophy” existed long BEFORE Layola joined the adherents together named them “Jesuits”, (

    It is BECAUSE of her “De-programming”, that stripes is able to “connect-the-dots” between “religion” and “banking” and “politics”, i.e., commonly referred to as “The New World Order”.

    It’s unfortunate that the two of you, instead of attacking, disrespecting, and trying to disgrace her, are not trying to look further into what she is saying and why she is saying it. If you did that, you just might find out and “discover” that the person called “Jesus Christ” never existed and the so-called “crucifixion” never occured at all. One big LIE. The “religion” Christianity – one big LIE – “stolen” from the Egyptians. But you are right – this is not the forum for religious teachings. But then, maybe it is – to UNDERSTAND what is happening in the world today and the “beliefs” that are causeing them to happen. No doubt about it – stripes most certainly do.

  63. Prove It!

  64. The bank owners are the investors by many proxies…

  65. Nabdulla…. I will take that as a compliment, Thank You…!

  66. Sorry Aces for not clarifying who Norm is…I assumed he was pretty well known.

    I do not mean to lead anyone astray. I am trying to explain to the the American people there is a lot more to this foreclosure fight than meets the eye. This is a war with many fronts. Though I would love to post a link to every bit of information I say, that would not connect the dots in this vast conspiracy. Honestly, there is quite a bit of intuition involved in this and we all need to apply our own research skills. This is a very skillful group of deceivers….very practiced at the art of deception. We all have to use our own gifts, our own skills and we need to know how to apply them.

    Good Luck in your research and may the good forces always be with you and with all of US…!

  67. Sludge Pool … mingled invester funds. Example AWL. Bank Owners are the Banks stockholders, not the lender/investers.

  68. @ stripes

    “BTW nabdulla, I am not a dude …… I am an American woman.”

    Humble, very sincere, apology. A “Woman”, didn’t know. An “American” – absolutely NO DOUBT ABOUT IT !! 🙂

  69. aceshigh123. Thanks for the Post! This is where to start the money trail. We closed on this property the last day CW table funded loans/via broker with invester money. That is why the loan did not get registered with Ginnie or pooled. We know CW didnt own the note, they lied, we know BAC didnt own the note, they lied. we know MERS didnt own the note, they lied, and we know BOAna does not own the Note, they lie! Like Neil says … you should be teaming up with the Investers, they got the Biggest Pooper Scooper Ever Made! 🙂

  70. Aces….Norm is a liberal progressive radio show host who is pretty well known and broadcasts nationwide…

    The “Table Funded” transactions were investors in the Securities Fraud by the Issuers of the Credit and they did not fund the Properties….WE THE PEOPLE DID….those investors were a party to the Origination Fraud by the Issuers of the Original Bills of Credit because they were Negligent as well by not doing their Due Dilligence and checking to make sure these were Secured Transactions. Sophisticated Investors don’t trust, they Verify and they knew damned well because they were the bank owners in disguise who instructed and directed the entire scam..

    The Issuers of the Credit …..the Bank Owners via the FED…… Defaulted in all of our names….and the Investors at the top of the pyramid scheme were the bank owners.

    The politicians are in cahoots with the bank owners….the politicians fraudulently induce every scam for the bank owners…take the FEDERAL RESERVE BANK & THE UNCONSTITUTIONAL & ILLEGAL CORPORATE BAILOUTS AS AN EXAMPLE.

  71. @ stripes

    “BTW nabdulla, I am not a dude …… I am an American woman.”

    Humble, very sincere, apology. A “Woman”, didn’t know. An “American” – absolutely NO DOUBT ABOUT IT !! 🙂

  72. Neil Etal Explains Table Funding…

    It is a “table-funded loan” which is a fancy way of saying that someone else actually loaned the money — some one other than the party named as payee on the note, or as lender or beneficiary on mortgage or deed of trust….


    Great Link…TY Again

  73. I Restate…Banksters Own/Run Politicians and OUR COUNTRY.

  74. @ Livinglies GROUP…TY for all you DO.

    @ Stripes…I LOVE your enthusiasm and your insight woman, but, here is just a suggestion…If you find something interesting that other FC Fighters might like, leave a comment and preferably also a link to your passionate post.

    Because, Meanwhile, Somewhere Else in America…I personally would like to continue to find Neil’s site, every day & nite, filled mostly w/ chats/comments focusing on Foreclosure Fraud & all the illegalities that entails. Maybe I will save my home someday. Who Knows.

    I’m Just saying, cuz, maybe I miss something that someone was gonna chat about due to their focus being distracted. & BTW…I do agree that banksters and politicians run America.

    @ Stripes again @ 6:32…Perfect Example…Who The F***is Norm Goldman? No Link or focus. No Disrespect Intended nor Expected.

    TY & Neil for all you do.

  75. I am sure everyone would agree there has been no real justice or liberty for the American people who have all been severely harmed and damaged since 9/11…. that is because evil directs this vast conspiracy against our Constitutional Republic and has been working to destroy it ever since its inception. How many lies have we been told to believe by these evil doers….? Too many to count. I believe the most heinous one is by those who tell us we have no Constitution…No American citizen ever signed or agreed to that or any of this evil. America has become a house of lies and is being directed by evil and evil doers.

    That is why we are all living in this fraudulently induced hell created by the bank owners both foreign and domestic who believe they are all Gods and worship false idols and are control freaks who protect everything they steal from all of us.

    Who gave them their power…..? They did, by secrets lies, deception & fraud they steal everything and control everything. That is why they spy on all of us. We should not allow that.

  76. ilovemympv and satish, thank you both.

  77. I do not see anything good in any of these politicians, bankers or anything they do.

  78. Nabdulla…..why is that an excuse for Obama, the politicians and law enforcement to do nothing but keep secretly aiding and abetting the criminals…..?

  79. Listening to Norm Goldman on the radio tonight talking about how he is unconcerned about what happens when he dies or how he got here and doesn’t care to know. He just wants to try and change the world while he is here. Interesting….. I would like to know who he believes guides his human spirit to make his life choices. I think Norm believes he is his own God and he directs his own choices. That is the ignorance of man. Everyone wrestles with choices and who they allow to direct those choices. No man is an island unto himself. Every action and reaction has either a force for good or a force for evil. You can’t be both and you can’t be impartial. Everyones choices effect the world for good or for evil there is no in between. Good is a life force….evil is destructive to everyone and everything….it destroys the human spirit and everything around it. When peoples lives are being directed by evil forces that is highly destructive to everyone and everything. That is why I reject evil and all of its evil works.

  80. @ stripes

    “Restoring our Constitutional Republic means everyone has to pitch in, including him. This country is in decline and has been ever since (Obama) took office.”

    Disagree with you Dude. Just about EVERY PSA I’ve read and EVERY “Assignment Of Mortgage” I’ve seen were ALL allegedly set-up and allegedly executed BEFORE President Obama took his first oath of office.

    Nevertheless, I would TOTALLY AGREE with you, and anyone else, who takes the position that he IS NOT a GOOD President for our country. Simply because, in my opinion, he maintains the “status quo” that’s been put in place by the Banks, traitor politicians, and corrupt “judges” that are destructive to the Americian citizens and our Country – rather than bringing about the “change” FROM the “status quo” that he promised.

    Like I said, this is strictly MY opinion, and I do say it with reserve. Because, you see, I know that our President is privy to information that is kept secret and hidden from us. The traitors have already made it known that they would put a bullet in his head in a heartbeat if he did do certain things, (Lincoln, the Kennedy’s, etc). For example, again my opinion, I truly believe that the GREATEST threat to our country and our freedoms and our future progeny is the the “centralized” banking system, the so-called “U.S. Federal Reserve”, (The Creature From Jekyll Island) and their fraudulent “Federal Reserve NOTES” (“Dollar Bills”). Until that entity is COMPLETELY and TOTALLY DESTROYED, and our government coins and issues our OWN currency, we’ll remain in debt slavery. But if Obama made the slighest move to get rid of the system, his plane would have “engine trouble” and crash, or something similiar. Then what? Who would they put in next? I don’t believe for a second that our President is a “coward” – no where NEAR being one. What would YOU or I do in his position??

    Again, just my opinion….

  81. @Charles Reed ,

    What you say about Ginnie Mae sounds correct to me ,, I can’t find anything to poke a hole in it and it may be the “man behind the curtain” in my case … AIG paid off my loan (and millions of others) at about the same time as AHMSI#1==became==>AHMSI#2 , O-One doesn’t own sh*t , AHMSI doesn’t either and neither does WF … nothing but crickets from the plaintiff regarding who is the harmed party (WF as fake trustee for empty trust is plaintiff) … I think I need dynamite to get them moving… Only endorsement is a “too late” “in-blank” on the SECOND “original” submitted.

  82. This is a banker war against the American people. They robbed us and We The People should not be paying for it by repaying for their crimes against every American. This is Crony Corporate Capitalism by the Bank Owners their minions and cohorts in finance and the Politicians …it is totalitarianism.

  83. Forcing people to declare bankruptcy because they were robbed by these crooks is not right. It is a cover up for the banksters crimes against US. These crooks should be sued and forced to pay back what they stole.

  84. Thanks for revealing who you are Christine. Kudlow on CNBC tonight posing the question…should we be teaching the Bible….?

  85. Subhuman. Repulsive of stupidity.

  86. Here’s another reuling against JP Morgan Chase in bankruptcy Court Today in which I have actively participated: I have redacted personal information contained in the ruling for privacy purposes. Here it is:
    Tentative Ruling:

    On or about December 2005, Plaintiff Adina Zaharescu (“Plaintiff”) applied for a home equity line of credit with Washington Mutual Bank (“WAMU”). The loan agreement was executed on January 13, 2006, and a deed of trust in favor of WAMU was executed for 4351 La Barca Drive, Tarzana, CA 91356 (the “Subject Property”). The total amount of the loan approved was for not more than $250,000.
    Plaintiff filed this adversary complaint on July 21, 2012, alleging the following causes of action: (1) rescission; (2) RESPA and TILA violations; (3) declaratory relief that Plaintiff’s obligations WAMU and its successors have been satisfied; (4) declaratory relief that Defendant does not have standing to enforce the note; (5) violation of 15 U.S.C. § 1692 (“the FDCPA”); and (6) accounting. The Court dismissed plaintiff’s original complaint on October 3, 2012, without leave to amend the claims for actions that predate the Purchase and Assumption Agreement. Plaintiff’s claim for rescission under the TILA was also dismissed without leave to amend. All remaining causes of action were dismissed with leave to amend. Plaintiff’s first amended complaint (“FAC”) was filed on November 5, 2012. At a hearing on a Motion to Dismiss FAC held on January 9, 2013, the Court granted Defendant’s Motion to Dismiss FAC with leave to amend.
    Plaintiff’s second amended complaint (“SAC”) was filed on November 5, 2012, wherein she asserts claims for (1) declaratory relief that Defendant and its agents do not have standing to assert a claim against Plaintiff; (2) declaratory relief that Defendant is not a holder in due course (and therefore does not have standing to enforce the note); (3) violation of 15 U.S.C. § 1692 (“the FDCPA”); (4) accounting and (5) objection to claim.
    Rule 12(b)(6):
    A motion to dismiss under Rule 12(b)(6) challenges the sufficiency of the allegations set forth in the complaint.“ A Rule 12(b)(6) dismissal may be based on either a ‘lack of a cognizable legal theory’ or ‘the absence of sufficient facts alleged under a cognizable legal theory.’” Johnson v. Riverside Healthcare Sys., 534 F.3d 1116, 1121 (9th Cir. 2008), quoting Balistreri v. Pacifica Police Dept., 901 F.2d 696, 699 (9th Cir. 1990). In resolving a Rule 12(b)(6) motion to dismiss, the court must construe the complaint in the light most favorable to the plaintiff and accept all well-pleaded factual allegations as true. Johnson, 534 F.3d at 1122; Knox v. Davis, 260 F.3d 1009, 1012 (9th Cir. 2001). On the other hand, the court is not bound by conclusory statements, statements of law, and unwarranted inferences cast as factual allegations. Bell Atl. Corp. v. Twombly, 550 U.S. 544, 555-57 (2007); Clegg v. Cult Awareness Network, 18 F.3d 752, 754-55 (9th Cir. 1994).
    In Ashcroft v. Iqbal, 556 U.S. 662 (2009), the Supreme Court elaborated on the Twombly standard: To survive a motion to dismiss, a complaint must contain sufficient factual matter, accepted as true, to state a claim to relief that is plausible on its face…. A claim has facial plausibility when the plaintiff pleads factual content that allows the court to draw the reasonable inference that the defendant is liable for the misconduct alleged….
    Declaratory Judgment that Defendant does not have Standing to Enforce the Note

    Defendant maintains that Plaintiff’s request for a declaratory judgment regarding Defendant’s standing to enforce the note must fail because under the terms of the PAA, Defendant succeeded to WAMU’s rights in the loan. As a result of its succession to WAMU’s interest in – and acquisition of – the Loan, Defendant argues that it qualifies as the “person entitled to enforce” the note under California’s version of the UCC. In addition, Defendant contends that it has an ownership interest in the Note under the PAA. Defendant points out that the FDIC, as the receiver for WAMU, had the power to transfer WAMU’s assets, including the note, as a matter of law. See 12 U.S.C. § 1821(d)(2)(G)(I). According to the PAA, Defendant argues that it paid value for the note, which the FDIC assigned, transferred, conveyed and delivered to Defendant. In short, Defendant contends that all of the elements necessary to transfer an ownership interest in a promissory note under California’s version of Article 9 of the UCC are satisfied in this case. Defendant did not provide a declaration as to the ownership of the instrument, or whether Defendant has said instrument in its possession.
    Plaintiff’s claim rests on the assertion that because the loan was purportedly sold prior to the execution of the PAA, and thus there was no loan in the hands of WAMU for the FDIC to take over and transfer to Defendant. The facts alleged in the SAC as to the basis for Plaintiff’s belief set forth a plausible claim.
    Defendant also argues that Plaintiff’s request for a declaratory judgment regarding Defendant’s standing to enforce the note is unnecessary and must fail because an adequate remedy exists under Plaintiff’s objection to claim, and that Plaintiff must follow the claim objection procedures under 11 U.S.C. § 502 and Fed. R. Bankr. P. 3007. Plaintiff argues in response that the relief sought by the objection to claim, and the request for declaratory relief, are similar but not identical. Plaintiff points out that an order from this Court granting declaratory relief will likely survive a dismissal after confirmation or some other issue affecting the claims process, but an order on an objection to claim may not. Plaintiff does not believe that prosecuting and defending the action with the inclusion of declaratory relief will not be any more onerous or expensive, and that the declaratory relief action should survive if it serves to clarify the parties’ interest.
    Under Federal Rule of Bankruptcy Procedure 7001(2), an adversary proceeding is proper to determine the validity, priority, or extent of a lien or other interest in property, other than a proceeding under Rule 4003(d). Fed. R. Bankr. P. 7001(9) requires an adversary to obtain a declaratory judgment as to any of the foregoing subsections of Rule 7001. Plaintiff’s objection to claim seeks to determine what interest Defendant may or may not have in the Subject Property in her bankruptcy case. Typically, the filing of an objection to a proof of claim “creates a dispute which is a contested matter” within the meaning of Bankruptcy Rule 9014 and must be resolved after notice and opportunity for hearing upon a motion for relief. See Adv. Comm. Notes to Fed.
    R. Bankr. P. 9014. In fact, Rule 3007 provides that “[i]f an objection to claim is joined with a demand for relief of the kind specified in Rule 7001, it becomes an adversary proceeding.” The clear implication is that a simple objection to claim need not be brought as an adversary proceeding. Nothing in the Rules or Code specifically precludes an objection to claim being brought as an adversary proceeding and the Court can think of no practical reason to so hold. The adversary procedure imposes no additional hardship on the claimant and, in fact, it affords a claimant heightened due process. See In re Moi, 381 B.R. 770, 772 (Bankr.S.D.Cal. 2008).
    Here, the objection to the proof of claim is related to Plaintiff’s requests for declaratory relief seeking a determination that (1) Defendant does not have standing to assert a claim against Plaintiff in any forum, and (2) that Defendant does not have an interest in the Subject Property. Plaintiff’s objection to claim is based on her argument that Defendant has no interest in the Note, Deed of Trust, or the Subject Property due to lack of standing. When ruling on such an objection, the bankruptcy court makes a substantive ruling that binds the parties in all other proceedings and may finally adjudicate the parties’ underlying rights. As stated inKatchen v. Landy, 382 U.S. 323 (1966): The bankruptcy courts “have summary jurisdiction to adjudicate controversies relating to property over which they have actual or constructive possession.” Id. at 327 (quoting Thompson v. Magnolia Petroleum Co., 309 U.S. 478, 481, (1940)). Courts have adopted this characterization of the effect of claim objection proceedings under the somewhat different, and more expansive, jurisdictional structure in place under the 1978 Bankruptcy Code. EDP Med. Computer Sys., Inc. v. United States, 480 F.3d 621, 624 (2d Cir.2007); Siegel v. Fed. Home Loan Mortg. Corp., 143 F.3d 525, 529–30 (9th Cir.1998); Bank of Lafayette v. Baudoin (In re Baudoin), 981 F.2d 736, 742 (5th Cir.1993).
    Consistent with this view, orders in claim objection proceedings have been given issue and claim preclusive effect. As stated in Katchen, The normal rules of res judicata and collateral estoppel apply to the decisions of bankruptcy courts. More specifically, a creditor who offers a proof of claim and demands its allowance is bound by what is judicially determined; and if his claim is rejected, its validity may not be relitigated in another proceeding on the claim. 382 U.S. at 334 (citations omitted).
    In short, a claims objection proceeding in bankruptcy takes the place of the state court lawsuit or other action because such actions are presumptively stayed by the operation of § 362. In light of the preclusive effect of this Court’s orders on objections to claim, the request for declaratory relief would at first glance seem to support Defendant’s argument that the request for such relief is duplicative. The Court notes, however, that an order on the objection to claim may not be sufficient to resolve claims of title in state court, whereas a declaratory judgment may be recorded with the appropriate agency.
    As the Court agrees with Plaintiff that the inclusion of declaratory relief will not be any more onerous or expensive to the parties if included, Defendant’s Motion to Dismiss Plaintiff’s request for declaratory judgment that Defendant does not have standing to enforce the note is DENIED.
    Declaratory judgment that Defendant has no rights under, or interest in, the Note
    While Defendant admits that Plaintiff’s theory that WAMU sold its interest in the loan prior to the FDIC takeover is plausible, Defendant argues that Plaintiff’s allegation is at odds with previous statements she made in her schedules wherein she identified WAMU as the holder of a secured claim after WAMU was placed into receivership. Based on her statements made in her schedules under the penalty of perjury, Defendant maintains that Plaintiff should be stopped from making an inconsistent allegation in her SAC.
    It is true that Plaintiff listed WAMU as the holder of a claim secured by the Subject Property under the penalty of perjury. It is likely that Plaintiff listed WAMU because it was the last entity that she knew had a secured interest in the Subject Property. It is telling that when Plaintiff filed this chapter 11 on February 13, 2012, she did not list Defendant as the holder of a claim secured by the Subject Property – even then she disputed that Defendant was a secured creditor.
    Plaintiff also argues that the Trust to which Plaintiff contends her loan was transferred does not exist, because the identifying Committee on Uniform Securities Identification Procedures (“CSUIP”) number that Plaintiff listed does not conform to the nine-digit numbering system used by the CSUIP. Defendant contends that this fact should undermine the plausibility of Plaintiff’s claim that her loan was transferred before the FDIC takeover of WAMU.
    The SEC does indeed state on its website that CSUIP uses a nine-digit numbering system, but that is simply not something that can be considered at the motion to dismiss stage. Plaintiff also attaches an exhibit from a non-related case that purports to reference the Trust that Plaintiff alleges held her loan prior to the FDIC takeover of WAMU to “support Plaintiff’s good faith contention of the Trust’s existence.” Opposition, p. 5, FN 1. Although the CSUIP number Plaintiff listed does not comport to the usual nine-digit numbering system, this does not require the Court To draw the inference that the trust does not exist. The Court could just as easily draw the reasonable inference that Plaintiff has not yet (though the discovery process) ascertained whether, and if, her loan was transferred to a trust of a different number.
    Thus, Defendant’s Motion to Dismiss Plaintiff’s request for declaratory judgment that Defendant has no rights under, or interest in, the Note is DENIED.
    Violation of FDCPA 15 U.S.C. § 1692
    Plaintiff’s cause of action for violation of the FDCPA was solely based on her contention that at the time that the FDIC took over WAMU, the loan had already been sold, and thus Defendant is not properly a creditor in her case. The definition of a “debt collector” under the FDCPA exempts certain parties from its purview. Defendant cites toPerry v. Stewart Title Co., 756 F.2d 1197 (5th Cir. 1985) to support its argument that it is not a “debt collector” under the definition provided for in the FDCPA. Perry is inapposite for two reasons: first, as a Fifth Circuit case, it is not controlling authority for this Court. Second, and more importantly, Defendant appears to rely on a misreading of the Perry court’s holding. In that case, the Fifth Circuit found that “[t]he legislative history of section 1692(a)(6) indicates conclusively that a debt collector does not include the consumer’s creditors, a mortgage servicing company, or an assignee of a debt,as long as the debt was not in default at the time it was assigned.” Perry, 756 F.2d at 1208 (emphasis in original). The last clause appears to be vital to the determination of whether Defendant may be considered “debt collectors” under the FDCPA—that is, the condition that the debt not be in default at the time of assignment applies to creditors, mortgage servicing companies, and assignees who wish to fall within this exclusion. See Frison v. Accredited Home Lenders, Inc., 2011 WL 1103468 (S.D.Cal., March 25, 2011). Plaintiff alleges in the SAC that she became unable to pay her mortgage obligations sometime in 2008, and that the FDIC had taken over WAMU as receiver on or about November 2008. SAC, 5:5-28. It is plausible that the mortgage debt was in default at the time the FDIC took over WAMU, and when the FDIC purportedly assigned for value the interest in Plaintiff’s loan. It therefore follows that it is plausible that Defendant may not be exempt from the FDCPA’s restrictions.
    Plaintiff she has presented a plausible claim for a violation of 15 U.S.C. § 1692, Defendant’s Motion to Dismiss Plaintiff’s SAC for violation of the FDCPA is DENIED.
    As stated above, Plaintiff argues that a claim for accounting should properly proceed where Plaintiff alleges that Defendant has received money to which it was not entitled and an accounting is required to determine if there is a balance due to Plaintiff. See Johnson v. HSBC Bank USA, N.A., 2012 WL 928433 (Bankr. S.D.Cal., March 19, 2012).
    Defendant argues in the Motion that even if the Court finds that Defendant is not entitled to enforce the Loan, Plaintiff’s claim nevertheless fails because the relationship between a lending institution and its borrower-client is not fiduciary in nature.” See Nymark v. Heart Fed. Savings & Loan Assn., 231 Cal.App.3d 1089, 1093, (1991)(citing Price v. Wells Fargo Bank, 213 Cal.App.3d 465, 476-478, (1989). Where no fiduciary relationship exists, Defendant argues that Plaintiff must establish that the account is “so complicated that an ordinary legal action demanding a fixed sum is impracticable.” Wise v. Wells Fargo Bank, N.A., 850 F. Supp. 2d 1047 (C.D. Cal. 2012)(citing Batt v. City & County of San Francisco, 155 Cal.App.4th 65, 82, (2007)). Defendant contends that the SAC is devoid of any allegations establishing that the account at issue is complicated or that a legal action demanding a fixed sum is impracticable.

    In Osei v. Countrywide Home Loans, the District Court for the Eastern District of California recognized that the holding in Nymark was limited. Osei v. Countrywide Home Loans, 692 F.Supp.2d 1240 (E.D.Cal. Mar 03, 2010). The court in Osei found that even when a lender’s acts are confined to their traditional scope, Nymark announced only a “general” rule. Id. at 1249. Rather than conclude that no duty existed per se, the Nymark court determined whether a duty existed on the facts of that case by applying the six-factor test established by the California Supreme Court in Biakanja v. Irving, 49 Cal.2d 647 (1958). This test balances six non-exhaustive factors:
    (1) the extent to which the transaction was intended to affect the plaintiff;
    (2) the foreseeability of harm to him;
    (3) the degree of certainty that the plaintiff suffered injury;
    (4) the closeness of the connection between the defendant’s conduct and the injury suffered;
    (5) the moral blame attached to the defendant’s conduct; and
    (6) the policy of preventing future harm.

    Glenn K. Jackson Inc. v. Roe, 273 F.3d 1192, 1197 (9th Cir.2001)(quoting Biakanja, 49 Cal.2d at 650)(modification in Roe). Although Biakanja reasoned that this test determines “whether in a specific case the defendant will be held liable to a third person not in privity” with the defendant, Nymark held that this test also determines “whether a financial institution owes a duty of care to a borrower-client” 231 Cal.App.3d at 1098. Applying these factors to the specific factors in that case, the Nymark court assumed that plaintiff suffered an injury, but held that the remaining factors all indicated against finding a duty of care. Nymark, 231 Cal.App.3d at 1098-11.

    Here, it is unclear under the applicable law whether Defendant may have a duty of care to Plaintiff as a fiduciary. At the 12(b)(6) stage, the Court need not apply theBiakanja factors; the Court need only determine whether Plaintiff’s claim that Defendant owes them a duty to account for payments made is plausible. As Defendant argues that it is the party that is entitled to enforce the obligation against Plaintiff, it stands to reason that it is also the party that may be charged with a duty to account for payments made by Plaintiff on the obligation.
    Defendant’s Motion to Dismiss Plaintiff’s claim for an accounting is DENIED.
    Objection to Claim
    As stated above, Plaintiff’s requests for declaratory relief are not duplicative of the objection to claim, nor is Plaintiff barred from bringing an objection to claim within an adversary proceeding. Defendant argues that its claim should be allowed in its entirety because its burden to establish standing because it is the assignee of the right to payment by Plaintiff under the original loan agreement. Thus, it is Defendant’s position that it has both the injury-in-fact requirement of constitutional standing (as a defendant, not a plaintiff, it need not establish constitutional standing), and the real party in interest requirement for prudential standing, to assert a claim in Plaintiff’s bankruptcy estate. See Veal v. Am. Home Mortg. Servicing, Inc. (In re Veal), 450 B.R. 897,922 (B.A.P. 9th Cir. 2011).
    Defendant acknowledges that it may be required to demonstrate its standing to assert a claim before its claim can enjoy the prima facie validity provided for under Fed. R. Bankr. P. 3001(f). Here, Defendant was not the initial payee of the Note. Due to this fact, Defendant is required to demonstrate facts sufficient to establish its standing. In this regard, Defendant sought a distribution from the estate in payment of the Note by filing a proof of claim, and thus it had to show that it was a “person entitled to enforce” the Note, or was the agent of such a person. In the context of a claim objection, both the injury-in-fact requirement of constitutional standing and the real party in interest requirement of prudential standing hinge on who holds the right to payment under the Note and hence the right to enforce the Note. In re Weisband, 427 B.R. 13, 18–19 (Bankr.D.Ariz.2010) (holding that real party in interest is the “party to whom the relevant substantive law grants a cause of action”). In other words, Defendant must be a “person entitled to enforce” the Note in order to qualify as a creditor (or creditor’s agent) entitled to file a proof of claim. Otherwise, the estate may pay funds to a stranger to the case; indeed, Plaintiff’s arguments at the prior hearing demonstrate that she objects to the claim because she seeks to ensure that such mistaken payments do not occur.

    Plaintiff argues that Defendant’s conclusory statements that it is the assignee of the right to payment by Plaintiff under the original loan agreement is, by itself, insufficient to establish standing. While all parties may agree that Defendant assumed all of the assets and liabilities held by WAMU at the time the FDIC took over in September 2008, the main contention of this adversary is that Plaintiff’s loan was not held by WAMU when Defendant obtained its rights under the PAA.
    Unlike a motion for relief from the stay, the claim allowance procedure has finality, as § 502(b)(1) explicitly directs a bankruptcy court to disallow a claim if a legitimate non bankruptcy law defense exists. Again, unlike motions for relief from the automatic stay, there will be no subsequent determination of the parties’ relative rights and responsibilities in another forum. The proceedings in the bankruptcy court are the final determination. As a result, Civil Rule 17’s policy of preventing multiple liability is fully implicated (incorporated here by Fed. R. Bankr. P. 7017). Taking Plaintiff’s allegation that her loan was transferred to the Trust prior to Defendant having succeeded WAMU, it is unclear whether Defendant is a “person entitled to enforce” the Note in order to establish “real party in interest” status and qualify as a creditor (or creditor’s agent) entitled to file a proof of claim. At the 12(b)(6) stage, this is all that is required.

    Defendant’s Motion to Dismiss Plaintiff’s objection to claim is DENIED.

    For the reasons stated above, the Motion to Dismiss is DENIED. The parties should be prepared to discuss how Plaintiff will establish an escrow account into which she will deposit monthly adequate protection payments. These payments, in an amount to be determined, will ensure that the real party in interest (to be determined) is adequately protected until the objection to claim is resolved.
    Satish Shetty

  87. Christine….leave my family out of this. You need help. You are a morally corrupted and rotten soul.

  88. Really Christine you are hoping I croak or end up in a FEMA CAMP for having an open mind….? That is the very sadistic and closed minded view that put us here. Only you can save your rotten and corrupted spirit…no one can do that for you. Your will is not free it is being held hostage by your indoctrination into an evil belief system of control by control freaks. I will pray that you can see the light.

  89. Christine…..this is not about religion, this is about a belief in a spirit world. There is nothing idiotic in a belief in a spiritual world. That is unfortunately a product of brainwashing that has your closeted your mind and closed down your ability to have an open belief system. That is your choice, not mine. I am trying to open minds, not close them.

  90. The good thing is that the imbecile will croak some day. The bad thing is that she bred first. No wonder any species would want to do genetic experiments to correct that kind of error… Oh well. Fema will come handy.

  91. All of mankind’s struggles are interlocutionary….meaning internal struggles between good and evil. These struggles are spiritual and are now playing out in the physical world. There is a fine line that the followers of evil cannot rise above and it comes from the inside of everyone. It is called the human spirit and is to easily swayed by false beliefs.

  92. “That is why they crucified Jesus and they are crucifying all of us.”

    Moron, stop with your campaign of disinformation and idiotic religious crap. You’re an asshole with not even one ounce of spirituality. You’re just a piece of shit. Layola had nothing to do with Jesus’ crucifixion. He came in the God damn 1500 century, asshole. I don’t know what is worse: an imbecile that repeats indiscriminately anything CNN and CBS spits out (while screaming that mainstream media is brainwashing the world… whast kind of an asinine behavior is that?) or a moron that pretends to understand and know something about anything but is too lazy and stupid to do any research.

    I know what’s worse… a moronic imbecile who consistently does both. I find you repulsive of stupidity. Simply subhuman.

  93. CNN is reporting the new pope is the first openly Jesuit pope….Study the Jesuit Order and the Society of Jesus….the Jesuit Order was founded by Ignatius Loyola. They believe in the philosophy of great human suffering is the only way to the salvation of the soul. That is why they crucified Jesus and they are crucifying all of us. They have bad interiors. They believe in everything that is the opposite of the truth because they are evil spirits inside. That is what Obama meant by you can’t change Washington from the inside. Lucifer is rising through their evil spirits.

  94. These followers who claim to be leaders will tell you everything they are doing is for the sake of our own peace and security, but there is no peace and security because the spirits of these followers are not following any of the laws of this land….

  95. Here is why Ginnie Mae is the first target as it does not have as many moving parts as the loans are placed into the Ginnie Me a pool with the relinquishing of the Notes to Ginnie Mae as the underlying collecteral for the securities that are being sold.

    Ginnie is providing the insurance for the investor who in most cases is the Federal Reserve Bank who is buying the MBS. Ginnie Mae has not way of liquidating the Notes as they are not a lender and are not authorized by the US Congress to buy or sell a home mortgage loan at all. Once a party who takes physical possession of a endorse in blank Note without purchasing the debt, there is a no return point because you cannot reunite the two.

    Ginnie got no way to put its name in the endorsement because it does not purchase the loans and the ex-lender now a “issuer” has relinquish all financial interest in the loans.

    Here is a big part of the equation and is because Ginnie Mae cannot accept a single house payment at all there cn never be an payoff amount also because there was a pay through procedure that went to pay the P&I payment due the investor as these payments could actually be applied to the home owner’s account. One payment coming in cannot pay the P&I for the two separate transaction!

    You got an accounting trick as Ginnie Mae has a the property foreclosed where it appears as if the payment was always being accredit to the homeowner’s account but it impossible to have been done, because there is no actual lender who can collect.

    The service is just a front for Ginnie who cannot enter into a servicing agreement as it is not a lender, and cannot have a service collect for something it cannot do by law.

    So who is at risk of losing monies? The Fed, because what they are buying never actual had any value what so ever, because the Notes were never purchased!

  96. That change for good includes from within the politicians and their minions & cohorts…..not just from within all of us.

  97. Obama knows the truth, the change for good can only come from within.

  98. This spiritual war is playing out in the real world in real time if you want to see it. Obama was asked if there will be a change in his policy’s because of the new pope. Obama laughed.

  99. You are wrong E Tolle…I want no attention paid to me, just the unfolding events and the reasons for them. This is a spiritual awakening for mankind. I wish to remain anonymous that is why I don’t use my real name.

  100. Deutsche Bank Pays $17.5 Million to End Massachusetts Probe
    By Jody Shenn – Mar 13, 2013 12:44 PM PT

    Deutsche Bank AG (DBK) reached a $17.5 million settlement with Massachusetts regulators who said the firm’s employees didn’t disclose conflicts of interest tied to collateralized debt obligations before the financial crisis.

    The bank’s securities unit failed to ensure that buyers of a CDO known as Carina knew a proprietary trading group at the firm and a hedge fund had played a role in structuring the product in 2006, Secretary of the Commonwealth William Galvin said today in a consent order. The group and fund intended to bet against part of the CDO or similar debt, he said. Galvin faulted the bank’s unit, known as DBSI, for supervisory lapses.

  101. “….we are being woken up for a reason and being asked to pay attention to these events.”

    No moron, you are asking everyone to pay attention to you and what you deem important. You plainly suffer from Narcissistic personality disorder. Go somewhere else and do your papal analysis. If I could reach through this monitor, I’d experiment with waterboarding and its effects on Narcissism and fools in one fell swoop. Too bad.

  102. I am sorry ..please excuse my error…the Pope was elected on 3-13-13….

  103. I see these events happening in the world as very significant and we are being woken up for a reason and being asked to pay attention to these events. I am sorry to hear E Tolle you are so closed minded. I hope you wake up to this spiritual awakening.

  104. …..and a great thing, if he means it.

  105. The Pope praying to the Blessed Mother is IMHO a very significant event.

  106. You’re 100% American Moron straps, and like many if not most flag waving – bible toting – dyed-in-the-wool Americans you believe that everything that comes out of your tiny – empty brain is important and that we should all listen up pronto. Anyone needing to post 10 comments to everyone else’s one is screaming out for attention, and needs serious psychiatric help. Do us all a favor and find one.

  107. The good meaning of the number 3 indicates something of importance or significance in Gods plan of salvation by identifying an important event in the salvation story. The number 3 operates as a signpost in scripture study for the reader to “pay attention” to the next significant event.

    The evil meaning of the number 3 is unlucky, misfortunate and evil fate.

    The new Pope vows to pray to the Blessed Mother … I wholeheartedly agree and will pray for him.

  108. Obama sent the Pope his blessings in his sentence to the chair of St Peter.

  109. BTW nabdulla, I am not a dude …… I am an American woman.

  110. The 13 evil spirits are spooks like the trolls at this site. CNN reporting the Pope speaks several languages including Italian, Spanish & German. Pope Francis asked for blessings… he certainly needs them.

  111. The number 13 has 2 meanings…one good…it is a powerful blessing from God…. it is the invoking of the creator’s love and unity…..the evil meaning is the 13 evil spirits of this cabal are joined in hatred and division of the creator’s love & unity and vow to work against the creator and against us.

  112. Nabdulla …. these jokers and thieves tear me up all the time…I am just calling it like I see it.

  113. Note the date of the Popes election…. 3-3-13……

  114. Christine looks like securitizing the cash flow of rentals is the plan
    A collegueOf mine never packed a thing they foreclosed. ( upside down on mortgage ofcourse) then gave her a number she could afford and leased the property back. Slick or what. How is that actually legally done- by signature. Hmmm

  115. nabdulla @ stripes

    stripes, on March 12, 2013 at 10:55 am said:
    E Tolle…I know how to use more than the 3 cells they activited. It’s called thinking outside of the cage. Don’t believe everything you are told & believe in things you cannot see. You should try it. Maybe your existance wouldn’t be so miserable.

    Dude, you tear me up sometime. But I agree that you’re 1000% correct – the “commecialized” “religion” panned out today is just another FRAUD.

  116. For gods sake stripes. This is not the forum for your opinion. I said i respect your opinion in that you have the right, but. Please control yoursrlf take that opinion and exercise your right on another blogg.
    Sometimes you totally spoil any credibility your points have by the rants that follow.
    Leave the pope out of court.

  117. CNN said Bergolio is the first Pope from outside of Europe since Peter……there’s the truth, he is Peter the Roman… a wolf in sheeps clothes.

  118. They are all liars and they are all full of it. They are loyal to no one but the bank owners. I reject evil and all of its evil works as the Catholic Church instructed me to do. These are not our leaders, they are all imposters; fictitious persons and fictitious payees just like the fraudclosers…the bank owners & the politicians. They are all big fat frauds.

  119. The new pope is representative of global totalitarianism …. the last pope Benedict was representative of fascism…that was a pretend joining of the bank owners by secretly imposing a dictatorship. We The People owe no loyalties or money or wealth or property to these secret dictators & monarchs of this European dynastic establishment and we never have.

  120. The pope works for the bank owners and is not impartial to any of them. The bank owners run the show from behind the scenes of the vatican.

  121. The new pope is calling himself Francis…but is in reality, Peter the Roman in sheep’s clothes. This is a fake changing of the guard. The big secret is out, the Spanish run the enforcement arm of the Monarchy through many proxies and the Italians run banking & commerce through many proxies. They are both in bed with each other…frenemies. They both want totalitarianism.

  122. Marone…….Pope Bergoglio has and Italian last name…is a Jesuit and a member of the Society of Jesus reported CNN… but speaks Spanish and is from Latin America… he is to appear to be both Italian & Spanish…consigliare and a member, loyal to both… of course.

  123. Is that a trick question or is someone being a smart ass? Let me see… how ’bout… the banks? And, incidentally, I came upon something yesterday about bankers bonuses and compensations having never been as high as they are today. Your tax dollars at work. Aren’t you proud?


    I would gladly pay taxes if indeed, they went to the people paying them. Seeing that it hasn’t been the case for decades, I can’t justify the IRS existence. And my money is too hard to come by to be as mismanaged as the feds have thus far. If I want to waste it, I’m big enough to do it all by myself!

    Who Benefits From the Fed?

    2013-03-13 —

    We recently looked at the Federal Reserve’s 2012 results. In particular, we pointed to some positive and negative developments. On a positive note, the Fed managed to shrink down the size of its balance sheet by approximately one-third of a percent. (Hey, it’s a start.) On a negative note, this decrease occurred because banks shifted their holdings of reserves into cash, thus forcing the Fed to sell off some of its assets. I explained that this is a potentially negative result, as the shift into cash brings with it inflationary pressure on prices.

    In this article I want to point out who has benefited from the Fed’s opera

  124. BofA’s Countrywide Asks Appeals Court to Undo MBIA Ruling

    2013-03-13 —

    Lawyers for the bank’s Countrywide unit argued yesterday in Manhattan that State Supreme Court Justice Eileen Bransten was wrong when she ruled last year that MBIA doesn’t need to establish a “direct causal link” between misrepresentations about the loans and claims payments made by the insurer.


    Blackstone Said to Get $2.1 Billion Loan for Home Purchases
    By John Gittelsohn – Mar 13, 2013 1:10 PM ET

    Blackstone Group LP (BX), manager of the largest real estate private-equity fund, has expanded a credit line to buy single-family homes to $2.1 billion from $600 million, according to a person with knowledge of the deal.

    Deutsche Bank AG (DBK) is leading the syndicate of banks, said the person, who asked not to be named because the loan is private. Other lenders include Bank of America Corp., Credit Suisse Group AG (CSGN), Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM)
    Sponsored Links

    Blackstone has invested $3.5 billion to buy 20,000 single- family rental homes since last year, making the New York-based company the largest investor of its type in the U.S. The firm is rushing to acquire properties as housing prices recover and as demand for rentals increases among people who can’t qualify for a mortgage or don’t want to own.

    Meet the future Too Big to Fail. The next bubble will be rentals. From Wiki:

    Blackstone was founded in 1985 as a mergers and acquisitions boutique by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers, Kuhn, Loeb Inc. Over the course of two decades, Blackstone has evolved into one of the world’s largest private equity investment firms.

    Looks like Lehman Bros. opened the door for a whole lot of people…

  126. The “new pope” Peter the Roman, is about to be announced in Latin…

  127. The American people do not understand the true meanings of many things we are told. That is the crime of INTENT TO DECEIVE…..Like the “closing” was really the opening of this crime spree by the bank owners on our Constitutional Republic. How were we to know these words we were told had opposite meanings like “loan” really meant the bank owners and the politicians were stealing from us….? Same with taxes, social safety net programs, bailouts and investing.

    Everything we were told was a scam and a big swindle and we could have never known we were being lied to about the true meanings of words. That is why Secret Societies have no place in our Constitutional Republic.

    The bank owners who hide behind the scenes of their crimes in order to rob and control us are our enemies both foreign and domestic. They are terrorists who secretly but openly declared war on our Constitutional Republic on 9/11…this is in fact, the last phase of their war against US….WW III…and what they wish to achieve is totalitarianism ….the bank owners wear many disguises and hide behind the scenes of their crimes… they are loan officers, Wall Street, the politicians, lawyers who write their communist rules for radicals, judges and law enforcement. They are not our Government…..they are a Giant Corporate Megaconglomerate of thieves and dictators who want totalitarianism. We The People never agreed to or authorized any of it….therefore the bank owners and all of their fraud are unconstitutional and illegal…a nullity.

    Investment is not ownership. Only the right to Defend Life, Liberty and Property is guaranteed by our Constitution and our Bill of Rights. Corporate pension funds are not guaranteed under the Constitution or the Bill of Rights and none of the Corps should have been bailed out by U.S. TAXPAYERS…..These Corporate crooks have stolen $60.4 trillion of our wealth and 20 + million of our properties to date. They are all war criminals.

  128. I asked fdic. Re the assets snd the remic status of my losn that was sold to onewest under legal rights of foia and i have letters from the year prior frim cheif council for fdic that onewest was not the successir in interest of indymac so what did fdic sell onewest after receivership what did they conserve exactly did they not know, then how can they enter into a deal .I was not given anything or even decent excuse under foia ( other than ask onewest) i was specific all i got was a printout. One line identifying my “loan ” number ( they were collecting payments on but for who
    The foreclosure date was set a month before recievership. Assignment by erica johnsen seck to hsbc. As attorney in fact for indymac after its receivership. Recorded retroactively. Why the need. Thought mers had it covered.


  130. iwantmynpv, thank you! I have been following the Paulson, Flowers, Mnuchin history too. Unfortunately I just lost my case. Did you know Flowers was key in the Lehman Brothers sale to Bear Stearns? And that Paulson was cherry picking from Deustche Bank via Goldman Sachs? And that Mnuchin was a key player in the CDOs. Please see articles below.

    SEC looks into Deutsche Bank CDO shorted by Paulson
    Tuesday, January 31, 2012
    Deutsche Bank is facing an SEC investigation for its role in structuring a synthetic CDO, according to a report by Der Spiegel. The German publication states that the bank’s actions in raising a CDO under its Start programme will come under question after it allegedly allowed hedge fund Paulson to select assets to go into the fund. The bank is then said to have neglected to have told investors about Paulson’s role in the transaction as well as concealing the fact that the hedge fund had taken a short position on the assets, allowing it to profit as the deal collapsed.

    Chuck Schumer fund-raiser John Paulson is key figure in Goldman Sachs fraud case, records reveal
    Saturday, April 24, 2010

    LA TIMES February 20, 2010|By E. Scott Reckard
    In taking over IndyMac’s assets, the investor group, led by Steven Mnuchin of Dune Capital Management, put up $1.55 billion to revitalize the bank. Other investors included hedge-fund operators George Soros and John Paulson, bank buyout expert J. Christopher Flowers and computer mogul Michael S. Dell.

    If you read about Mnuchin and Chris Flowers you will find that they orchestrated the Credit Default Swaps while they were working at Goldman Sachs.

    You can go to SEC web site and review the Goldman Sachs investigation that was settled out of court.

  131. Congrats Iwantmynpv! Unfortunatly your stratagy does not work for all loans….. only sub-prime loans. Our rate was Excellent fixed rate!

  132. Come on MariK! Get a forensic audit and have a little faith in what Neil is saying. If presented in the right way by a competent attorney – the facts cannot be denied. Thank you Neil puitting what really happened out there in a way that anyone can understand. Unfortunately we have some judges who have already made their mind that we are all deadbeats and are there to get a free house. Keep at it and never give up.

  133. Really, I just beat One West (with prejudice). I know first hand that all of the loans were absorbed into a special purpose entity IndyMac Venture LLC. One West Venture, LLC did fund the reserve requirements with 1.3 billion, and the FDIC purchased all the loan sitting on the FHLB of San Francisco balance sheet.

    In addition, the Obama administration used this political payback to Mnuchin, Dell, Soro’s and Silar, Paulsen etc.. and forced the United States Taxpayers to absorb the 6 billion in losses on the Fannie and Freddie loans originated at Indy, with full and implicit recourse, and buried the story so these guys could make 800 million off the Indy stuff inn the first 24 months.

    Since 2009, One West has plead ownership of these loans in tens of thousands of foreclosure actions, which a simple letter will have withdrawn, and now have begun withdrawing and having the “issuing entities” file through the Trustee of the securitization trust. This is another lie!

    Don’t start with cash flow… start with features of the transaction, such as; the borrower paid a higher interest rate per annum to purchase the hedge. It was credit driven and the higher the credit risk, the higher the rate to pay the swap premium / credit enhancement on loans that were never conveyed past the Depositor. Even Fannie and Freddie used DO/DU so they could check the pipeline and purchase the swaps based on credit risk, which in turn, gave the enhanced guidelines (higher interest rate) to the end-user to dupe the potential borrower.


  134. Truth…
    Much used word but its value in dealing with the Goliath 5 is worthless

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