The CLOUD: No Name, No Docs, No Terms, No Balance Due: MBS Investors Screwed and Taking Borrowers Down With Them

Writing with the flu. Despite symptoms and medication that makes me dizzy, I feel compelled to write about something that is getting traction out there. The more you look at the false claims of securitization the more it stinks. We are dealing with a system that is based on really big lies. I’m sure our leaders of government have a very appealing rationalization why we must pretend the mortgage bonds are real, why we must pretend the mortgages are real, why we must pretend the notes are real, and why we must pretend the debts and defaults are real. But those are lies based on sham transactions. And those lies are based in public policy. And public policy is contrary to law.

My focus is on cases pending in the judicial branch of government. Our system of government was designed to insert the judicial branch into disputes so that fractures in public policy do not cheat citizens out of their basic rights. In this case, the failure of the other two branches of government to include the rights of homeowners is damaging both to the society generally and producing millions of cases of unjust enrichment and displacement of millions of people from their homes in cases, where if all facts were known two facts would be inescapably accepted: (1) mortgages filed as encumbrances against real property were fatally defective and unenforceable and (2) the balance owed on the debt is either impossible to ascertain or zero, with a liability owed to homeowners on the overpayments received in the midst of that opaque cloud we are calling “securitization.”

The trigger for the writing of this article is once again coming from BANK OF NEW YORK MELLON as the “Trustee” of vast numbers of REMIC Trusts. Bill Paatalo, a private investigator, uncovered an officer of BONY who is very frustrated with BOA and others who are telling borrowers that BONY is the owner of their loan. Indeed, suits have been brought in the name of BONY without any reference to the trust; and of course suits have been brought in the name of BONY as Trustee of a REMIC Trust, which represents but does not own the loans (the ownership interest being “conveyed” with the issuance of the mortgage bond to investors who were duped into thinking they were buying high grade investments. BONY and DEUTSCH both say such suits are brought without their authorization and have instructed servicer’s to cease and desist using the name of Deutsch of BONY MELLON in foreclosure suits.

The problem revealed is contained in an email Paatalo posted from an officer of BONY MELLON, who wants BOA to stop telling people that BONY is the owner of their loans. He says BONY doesn’t own the loans and has no right, power or obligation to modify or mitigate damages caused by the borrower failing or stopping payments on the loan they unquestionably received. He says BONY is the Trustee for the loan and denies ownership and further denies the ability or right to modify.

What he doesn’t say is what he means by “Trustee for the loan” and why the “trust” should be considered real as a legal person when there is no financial account or assets held in the name of the Trust. Like Reynaldo Reyes at Deutsch Bank, he is basically saying there are no trust assets, there never was any funding of the trust, and there never was an assignment or purchase of the loan by the trust — for the simple reason that the Trust never had a bank account much less the money to buy loans or anything else.

So Reyes and this newly revealed actor from BONY are saying the same thing. They are Trustees in name only without any duties because no money or assets are in the trust. Which brings us back to the beginning. If the loan was securitized, the Trust would have had a bank account to receive money advanced by investors who were purchasing alleged mortgage bonds that promised that the investor also was an owner of the loans — an undecided percentage interest in the loans.

That money in the Trust account would have been used to fund or purchase the loan to the borrower. And the Trust would have been the mortgagee or beneficiary on the mortgage or deed of trust. There would have been no need for MERS, or originators or any of the countless sham corporations that are now out of business and who supposedly loaned money to borrowers. If it was real, the records would show the Trust paid for the loan and the recorded documents from the loan closing would clearly show the Trust as the lender.

It is really a very simple deal, if it is real. But complexity was introduced by Wall Street, the effect of which was that the lenders didn’t get the loans they were expecting, didn’t get the collateral they thought they were getting and didn’t even get named as lenders despite the fact that it was investor money that was used to make and acquire the loans. Like the borrowers, investors were stepping into a cloud that intentionally obscured the ownership of the loan.

On the one hand, the Banks covered ownership by the issuance and execution of an Assignment and Assumption Agreement, but that was before any loan applications existed, just like the prospectus and sale of the bonds — a process known as selling forward on Wall Street. On the other hand, the bonds were issued in the name of the investment banks, a process called Street Name on Wall Street. On the third hand, the loan documents showed neither the investment banks nor the investors or even the REMIC Trusts. instead they showed some other entity as the lender even though the “lender” had advanced mooney whatsoever — a process later dubbed as “pretender lenders” by me in in my writing and seminars.

By pushing title through pretender lenders and private exchanges that registered title that was never published (like the county recorders’ offices publish recorded deeds, mortgages and liens), the Banks created a Cloud which by definition created clouded title to the property, the loan and created a mortgage document that was recorded despite naming the wrong terms and the wrong payee.

Pushing title away from the investors who advanced the money and toward themselves, the Banks were able to play with the money as if it were their own, and even purchase insurance and credit default swaps payable to the banks, who were clearly the intermediary agents of the investors. And the Banks even got the government to guarantee half the loans even though the underwriting standards were ignored — since the banks had no risk of loss on the loans (they were using investor money and they were getting the right to receive third party payments from the government and private parties). Eventually after the meltdown, the Banks became part of a program where tens of billions of dollars worth of the bogus mortgage bonds owned by the investors were sold to the Federal government (some $50 Billion per month).

Through their creation of the Cloud, the banks were able to take the money of the investors and receive it as their own, concealing the initial theft (skimming) off the top by creating sham proprietary trades. Now they are receiving judgments and deeds from foreclosure auctions based upon their submission of a credit bid that clearly violates the very specific provisions of state statutes that identify who can submit a credit bid rather than cash at the auction. Only the actual owner of the unpaid account receivable has the right to submit a credit bid.

And by the creation of the Cloud judges and lawyers missed the point completely. The result is stripping the investors of value, ownership and right to collect on the loans they advanced. At no time has any Servicer filed a foreclosure in the name of the investors whose money was used to fund the deal. In no case is there any underlying real transaction in which real money was paid and something was received in exchange. The Courts are now the vehicle of public policy and manifest injustice by enforcement of unenforceable mortgages for fabricated notes referring to non existent debts.

The net result is that public policy and government action is contrary to the rule of law.

57 Responses

  1. US Bank and SN Servicing has submitted Forged documents in our federal bankruptcy case too and we will never stop perusing them in court for damages. We are also asking our Federal judge to prosecute their current attorney out of Jacksonville Florida who continued to defend this case knowing that forged document are before a federal court. All the offending parties at SN Servicing and their attorneys are committing a serious crime against our country. We have filed a formal complaint with the FBI and the US attorney general and many great Judges all across this nation are finally stopping them from this kind of fraud on American families. US Bank and SN servicing and their attorneys are also violating a serious consent order that was to protect the people from these crimes but they could care less. Please feel free to have your clients join a class action suit so that we can end their behavior with a multi billion dollar punitive damage suit. Join us, call Ray Shelton in Florida at 352 274 8467

  2. Attorney Deceit Statutes

  3. re: “Trustees in name only without any duties because no money or assets are in the trust”. I’ve been attacking the failure of the trust to form (both REMIC) and any purported “trust” relationship formed by the DOT.

    Since we all know we can beat them with commercial law, discovery, evid rules, etc but crooked judges still screw us, I’ve been attacking the fact that the necessary elements to form a trust (intent, purpose, parties, specific trust res/property) are not present along with no “method of formation” since there was no effective present transfer of trust property.

    I’m that guy with a 1099a with Box 5 “was borrower personally liable for repayment of the [purported] debt? checked NO, I got from the IRS to enter into evidence.

    Despite that evidence in the record it was same ole (5 against 1-me, and hostile “judge”). My nemesis Thomas P. Dore got a 90 day vacatioin (suspension) by Court of Appeals of Md on 20 Aug 2013 but he will come back with a tan and be up to his same criminal tricks.

    But when I attached the failure of the trust to form and that they must be fraudclosing under trust law, not commercial law, and discovered that per Md. Rules the word “borrower” is also a grantor of a deed of trust. Borrower doesn’t necessarily mean you “borrowed” “money” (money of account, or money of exchange).

    Suffice it to say it was not my intent (necessary element) to form a trust with unknown “trustees” and “beneficiaries” absent any consideration, as no one in their right mind would do that. It must have been a mistake.

    “judge” Trickey Mickey Norman was pissed and used the term “malicious” to describe me and my filings. What a dick, but tricky Mickey knows I know, what he knows and it’s eventually going to come crashing down on him and his ilk.

    I’ve taken a lot of arrows on the frontier and there are still a few sticking in me but I encourage everyone to stick with the “vanilla” litigating and watch that Judge James Rowe v. Nationstar et al in West Virginia fed court since he is the first judge I know of who sued them when he figured out he was getting screwed.

    Responsive pleadings (answer) is due today 30 Sep 2013. Notice they didn’t try that b.s. 12(b)(6) lame Motion to Dismiss per Iqbal/Twombly.

    Those wankers had to actually answer the complaint. Read up since that Judge sue for violation of TILA 6 years after the purported “closing”. Very vanilla but big difference when a Judge is the Plaintiff.

    Hang tough.

  4. the mission of the United Secret Service is:

    The vision of the United States Secret Service is to uphold the tradition of excellence in its investigative and protective mission through a dedicated, highly-trained, diverse, partner-oriented workforce that employs progressive technology and promotes professionalism.

    IS TO SAFEGUATD THE NATION’S FINANCIAL INFRASTRUCTURE AND PAYMENT SYSTEMS TO PRESERVE THE INTEGRITY OF THE ECONOMY and to protect national leaders, visiting heads of state and government, designated sites and National Special Security Events- looks like they are sitting waiting for us.

  5. Right, Poppy…bottom line—the “loans” are unsecured.

  6. E. Tolle,
    I totally feel you—I didn’t appeal either, for the very reasons you cited. I had just gone through 2.5 years of collecting facts, learning the law, learning rules of civil procedure, explaining my position as completely and competently as I could. Smoking too many cigarettes, staying up too late, reading blogs and lawsuits until my eyes glazed over, draining printer cartridges, visiting Kinko’s more often than a beginner punk band making flyers for their first teen center shows—living and breathing this bullshit, in other words, only to have the judge make some cockamamie ruling? And now I’m supposed to do it all again, spend the money and the time on the very off chance that three of the black-robed demons will somehow be more fair to me than the one was? No thanks.

    The bargain that Tavakoli wrote about the other day—in which the banks are allowed to skate away from their obligations scot free while we, on the other hand, have to bear the full burden of having signed a few onerous pieces of paper—is in full fucking effect. That is to say: they win, we lose. And that’s why we can’t fight them on their home field, i.e., the courts. That home field advantage may be eroding now, but it’s eroding so slowly that by the time the courts finally decide to apply the law correctly, most of us will be snug in our caskets.

    I say that because for every seven-figure settlement like in San Luis Obispo, there are a thousand losses like the one in the recent (a week or so ago) appeal of Kramer v. Fannie Mae (5h Cir.). Not gonna go over the gory details, but basically, the court said MERS is fine, the mortgage doesn’t follow the note, it doesn’t matter who holds/owns the note, etc. And Kramer had the benefit of being represented by a fine Texas attorney with whom I have had the pleasure of speaking on a number of occasions about some interesting info.

    As long as the bank bargain is still on, there will be no justice. The law will not be followed. There may be little uprisings here and there where a black-robed demon gets an inexplicable flash of conscience (or they miss a payoff or two), but this downward descent into tyranny and economic apocalypse will not be slowed one microsecond by any of that.

  7. Deb,

    In the Stauffer case, you can tell the bank ain’t too confident. Look at this last minute filing. Worth its weight in BS.

  8. “There’s no hope for mankind with divergences such as these.”

    Mankind will survive. Always has in the past 250,000 years. America chose its distractions… and it wasn’t by ignorance. After all, it does teach history in school, doesn’t it?

  9. NPV, I am impressed constantly with your concise, in=depth explanations. And you too, ELEXQ! I have to cut and print that explanation. Really appreciate it.
    NPV, I need you to contact me off blog. usedkarguy at yahoo. Have a guy who needs a loan audit. pre-foreclosure.
    Tolle, courts are getting p.o.’d because they are faced with one of two choices: violate the homeowners’ civil rights by silencing them and denying evidentiary hearings, or just rule against them and allow plaintiffs to enter fraudulent documents. Either one leads to misprision of a felony exposure.

  10. But, what, me worry?

    I just found out that while we here are concerned about millions of foreclosures, and many millions more in the pipeline, word has it that, “ Taylor Schilling chose a haltered pearl-hued Thakoon featuring a high front slit and open back.”

    There’s no hope for mankind with divergences such as these.

  11. Elexquisitor wrote, “My first question is what happened on appeal?”

    I didn’t appeal. Remember the old saying, “A man who is his own lawyer has a fool for a client?” I’d expand that to include….a man who knows he has Judge Curmudgeon waiting in remand should just skip to plan B. Where I’m from, the district court judges are a band of brothers, with a sister or two in the ranks. You cannot run their gauntlet. Only a fool would try.

    A friend who I’ve written about before here, an astute attorney, won in appellate court recently. When remanded back, the first words out of the judge’s mouth were. “Don’t consider this a victory. You will not get discovery. You will not get depositions. The banks will first get another bite at the apple.” He’s determined to get certified before the Supremes now.

    Only a fool will push against such odds. “He who knows when he can fight and when he cannot will be victorious.” – Sun Tzu

    I didn’t cite Tompkins v Healthcare, it was from a case I pasted from stopforeclosurefraud.

    Elex states, “Either they have the GAAP records evidencing sale / purchase of note and resulting damages and the question of legal capacity to be a party if they don’t.”

    Have you been granted discovery?

    I guess it’s a sign of the times that, like TU queried about in her recent post, one needs to write a complaint, not based upon factual summaries, but instead geared towards losing, but with enough facts to support an appeal. As she said:

    “Interesting that the going understanding now is that if you are sued, you should expect no remedy in the court you are sued in, you should expect to argue and lose and appeal and ‘hope’ to win if your argument is good enough.”

    Bizarro world.

  12. Wow.
    I don’t know how to mention this, but the post that stated
    citing precedent from the United States Supreme Court’s decision in Carpenter v. Longan, 83 U.S. 271, 16 Wall. 271, 21 L.Ed. 313 (1872)
    is interesting because the patriot community said the supreme court had changed everything for everybody, living, after Erie v Railroad decision.

    I haven’t paid attention to standard court rulings to see how often they site any United States Supreme Court ruling prior to the Erie v Railroad decision, but it’s refreshing to see a court go back to the beginning and if the ruling hadn’t been overturned, it still stands.

    If everyone was robbed and knew what they needed to know for the ‘original court of justice’ to rule in their favor to keep their property, there’d be no need for an Appeals Court nor a Supreme Court.

    Interesting that the going understanding now is that if you are sued, you should expect no remedy in the court you are sued in, you should expect to argue and lose and appeal and ‘hope’ to win if your argument is good enough.

    Something about that just doesn’t sit well for our ‘supposedly advanced society’ with the ‘advanced technology’ and the ability to travel into space and access free energy.

    hmm. if you have been paying for a home, it’s a matter of time, you will be sued, you will go to court. Write your case for a second court because the first court will rule against you and when you go to the second court, the one’s suing you will settle.

    Trespass Unwanted, Creator, Corporeal, Life, People, Free, Independent, In Jure Proprio, Jure Divino

  13. @EToLLe wrote “In my own case, the judge moved to seal hugely damning evidence that I had uncovered against the banksters showing how they circumvented the very laws the court was supposed to uphold, all WITHOUT a single motion asking this judge to seal this evidence. So no other mortgagors will now benefit from my exhaustive, case-damning research. ”

    My first question is what happened on appeal? Because we all know to write our cases for the eventual appeal, because when the appeals come back for the homeowner, settlements occurs quickly.

    And I would have appreciated the use of your brain to pick apart my case so I could possibly make it stronger, rather than having to read thru your diatribe of the all familiar experiences of negative results. Even your citation to Tompkins v Healthcare is a canard because it points to ERISA as the preemptive law when HOLA, RESPA, and TILA are the oprative law in foreclosures. I would like to leverage off of Glaski by using its decision on objections to noticed documents, and firming up the issue of preemption by pointing out I have a Glaski in my pleadings I didn’t exercise because case law didn’t support it at the time of my pleading. And it points to the question of title, which is the issue to raise when you have first followed the money trail to its conclusion. Either they have the GAAP records evidencing sale / purchase of note and resulting damages and the question of legal capacity to be a party if they don’t.

    What was your experience when you used this argument? What did your appellate court rule on it?

  14. Christine
    Agreed. No more wArs
    Time for something new and exciting.
    I love the concept of brothers and sisters unite. All for one and one fior all.
    Maybe some day soon i hipe.

  15. Deb,

    I don’t necessarily agree that this period is worse than any before. For one thing, fewer and fewer people believe that war is ever justified. Our parents and grand parents didn’t know and sacrificed their lives for causes they had been sold on through lies and deceit and which they wholeheartedly bought, hook, line and sinker. Most people nowadays know that wars are created by the banks and for banks’ profit. I call that progress.

    More people also know that government is never the answer. Quite the opposite. Lastly, there is a higher level of consciousness worldwide about humanity being interconnected and interdependent. I credit the mixing of races for it. How can we possibly go and kill anyone when most families nowadays have relatives from every continent and multiple countries? Of course right now it looks like total chaos. It’s just that we know much more about what happens worldwide than we ever did.

    Humanity’s history is being rewritten. The trap we must not fall in is become cynical.

  16. Christine
    The trust has gone i know Media is a joke because, well you know nothing is what it seems, all we can do is the best with the info we have at a given junction in the road snd listen to that small voice intuition.
    One thing i know is we were born in this time for a reason and the othet thing i know is i do not want grandchildren, not in this world or life time- how sad is that, ive not had tv for about 5 yrs. i miss Reno 910.

  17. We’ve seen lower. Not to worry.

  18. The question was, “Is anybody on this blog bothered by my level of intelligence?”

    No, not really.

  19. Is anybody on this blog bothered by my level of intelligence?

  20. Deb,

    Seemingly “off topic” but nowadays, nothing really is: the 1% has been committing the most horrendous acts against the 99% for what appears to be… forever and people are now revolting worldwide.

    Tony Rooke has won a case in court whereby he no longer must pay his BBC fee in order to watch TV because, as he demonstrated in court, BBC was complicit to 911, when it announced the collapse of building 7 20 minutes before it happened. What’s remarkable is that a magistrate would accept to hear that case and, officially, dare agree with him.


    Call it “reality TV” if you wish. The fact of the matter is: until a few years ago, we had no idea how bad things were. Nowadays, it is out in the open. We may not (yet) have magistrates with that kind of courage here but it is only a question of time. When that happens, the IRS will not survive… The Feds won’t probably either.

  21. Its on the rise

  22. This is a perfect example of the judiciary coming around, as posted over at stopforeclosurefraud today:


    And so, Wells Fargo wins on a technicality. The Court never addresses the merits of this case and expresses no opinion thereon. Still, it is appropriate to point out that, were Henning to prove his case on the merits, the conduct of Wells Fargo would be shown to be nothing short of outrageous. On the other hand, perhaps if Wells Fargo addressed the merits, its conduct would be vindicated by fair-minded American jurors. A quick visit to Wells Fargo’s website confirms that it vigorously promotes itself as consumer friendly, Loans and Programs, page within Home Lending,, (last visited September 17, 2013); a far cry from the hard-nosed win-at-any-cost stance it has adopted here.

    The technical (and now obsolete) preemption defense upon which Wells Fargo relies is an affirmative defense which can be waived. See, e.g., Tompkins v. United Healthcare of New England, 203 F.3d 90, 97 (1st Cir. 2000). The disconnect between Wells Fargo’s publicly advertised face and its actual litigation conduct here could not be more extreme. These facts lead this Court to inquire whether Wells Fargo wishes to address Henning’s claims on the merits. After all, it may be that Wells Fargo has done nothing wrong.

    ACCORDINGLY, it is ORDERED that Wells Fargo, within 30 days of the date of this order, shall submit a corporate resolution bearing the signature of its president and a majority of its board of directors that it stands behind the conduct of its skilled attorneys and wishes to avail itself of the technical preemption defense to defeat Henning’s claim.
    Should it do so, judgment will enter for Wells Fargo. If no such resolution is filed, the Court will deem the preemption defense waived and both Wells Fargo and Henning will have the opportunity to address the merits (i.e., what really happened) at a trial before an American jury.


    /s/ William G. Young
    William G. Young,
    District Judge

  23. Its on tbe riae.

  24. Hmm gluten ” allergy” ?

  25. This is how the battle wages between us and TPTB….buried deep within this 120,000 word bill that will continue payments towards defense spending and homeland security in the looming cliff battle, is this little rider to the emergency spending bill, which, btw, no one will claim authorship of:

    Sec. 735. In the event that a determination of non-regulated status made pursuant to section 411 of the Plant Protection Act is or has been invalidated or vacated, the Secretary of Agriculture shall, notwithstanding any other provision of law, upon request by a farmer, grower, farm operator, or producer, immediately grant temporary permit(s) or temporary deregulation in part, subject to necessary and appropriate conditions consistent with section 411(a) or 412(c) of the Plant Protection Act, which interim conditions shall authorize the movement, introduction, continued cultivation, commercialization and other specifically enumerated activities and requirements, including measures designed to mitigate or minimize potential adverse environmental effects, if any, relevant to the Secretary’s evaluation of the petition for non-regulated status, while ensuring that growers or other users are able to move, plant, cultivate, introduce into commerce and carry out other authorized activities in a timely manner: Provided, That all such conditions shall be applicable only for the interim period necessary for the Secretary to complete any required analyses or consultations related to the petition for non-regulated status: Provided further, That nothing in this section shall be construed as limiting the Secretary’s authority under section 411, 412 and 414 of the Plant Protection Act.

    Very quietly, the U.S. House of Representatives on Friday approved an extension of a law allowing farmers to keep growing a genetically modified crop while it is being challenged in court, a move critics said overrode actions to prevent contamination of non-GMO crops. So, they can continue to grow, sell, distribute and so on, GMO’s, without the hassle of legal battles. Who got paid for this and how much? So they are against providing food support to the unemployed, stating that the withdrawal of food support will force people to find work, and yet they found it within their hearts to support their real constituency, Monsanto?

    The senate had an opportunity to slow Monsanto down by forbidding them to plant GMO crops while a court case on the matter was in legal process. Our Monsanto-owned senators did their job and voted yes to this disgraceful law. Here is the list of how all the senators voted. Remember this when they come up for re-election. Your health and the health of your children depends on stopping Monsanto any way we can.

    Here’s how your rep voted

    All 535 of these sellouts should be prosecuted for treason. Ship them all off to Gitmo, and feed them round-up.

  26. Deborah, those are exactly the kind of issues that are continuing to be reversed and remanded on a larger scale. More power to you.

  27. @ E. ToLLe,

    Sorry you are in one of several states that are rigged for the banksters.

    I am in CA where that Glaski case, plus a few other borrower-favorable cases are shaking things up. My case is assigned to one of the few BK judges who had been ruling in favor of borrowers where arguments could be made about standing, even before Glaski.

    My case has not even advanced to the stage of the adversarial on the mortgage, but when it does, I have been told it could be filed either in the BK court or in a different court. In the meanwhile, more information is coming out that helps my case and more favorable case law is being created in CA.

    Too bad FL went the opposite direction with the recent laws. CA gave the homeowners a little help instead with the Homeowner’s Bill of Rights or HBOR as it is referred to. It is one of the few things that CA has done right in this mess, in my opinion, aside from the Appellate court rulings in favor of borrowers, that is.

  28. Etolle
    I have my transcripts and judges make big mistakes too. Like after close of discovery with 2 motions unruled upon before the court and allowing/ ruling on newly arbitrarily changed causes of action acting outside FRCP and application of law. I called it out – so all -your homework folks -do it
    judges as we are seeing are covered by ” mistake” but it is often called abuse of discretion.

  29. Poppy
    You hit the nail on the head
    Re if they can do this they can do anything to us
    If the man with the gold rules then we are finished
    Remember ” all that glitters is not gold”

  30. “I’m beginning to realize this is a ‘reality’ blog – part Real, mostly fictional posts by ‘authors’ who lost the war of their home based on their understanding of law and micro-economics.”

    Okie doke, elex….I look forward to your first, post-hearing comment, on how you successfully slew the dragon/s, based upon your more realistic understanding of law and micro-economics. This should be entertaining to say the least. Pass the popcorn. Go for it.

    But more than likely, you too will come to terms with the fact that by millions to one, the judges never let you step out of the dugout, much less take a swipe at the ball. Or, he/she simply altered a legal reality for a moment in his/her courtroom, such as is discussed here by Mark Stopa:

    Do you notice how the judge was helping the bank’s lawyer?

    You might think it was subtle, but, as I see it, the judge’s “help” absolutely jumped off the page.

    Look at page 8. The bank’s lawyer made it clear he had “no further questions” (for the only witness he brought to trial), and it was clear to me that he was done presenting evidence. However, the bank’s counsel had not asked his (only) witness any questions or introduced any evidence to prove the bank’s claim to re-establish the lost note, as would be required for the bank to prevail and foreclose. Clearly, the judge realized counsel was not introducing evidence of an essential part of his case. But instead of allowing him to screw up (and, potentially, enter judgment for the homeowner), the judge interjected:

    “[Counsel], this is a lost note?”

    If you’re a nonlawyer, this might seem subtle, but as a lawyer, I assure you – this was an obvious reminder by the judge that the bank’s attorney needed to submit additional evidence. Of course, right on cue, the lawyer responded by asking more questions, with an eye towards proving what a bank needs to prove to re-establish a lost note under Florida Statute 673.3091.

    Tellingly, at the bottom of page 8 and continuing at the top of page 9, the bank’s lawyer actually asked the judge if she “required anything else.” This was not innocuous, either; this was the lawyer’s way of asking the judge, on the record, if he was missing any other evidence necessary to prove his case (and for the bank to prevail). In response, the judge told him precisely what to ask:

    “no explanation as to how [the note] got lost?”

    Again, right on cue, the bank’s attorney responded by asking the question the judge told him to ask, i.e. how the note was lost.

    Later, after all the evidence was admitted and the bank’s lawyer and this homeowner were making closing arguments, the homeowner argued the case should be dismissed given the bank’s failure to give her the required 30-day notice and opportunity to cure. The bank’s lawyer didn’t think this letter was necessary, but the judge prompted him to re-open his case to introduce the letter into evidence, asking him

    “Do you wish to re-open the case to admit the letter?”

    Notably, the bank’s attorney had not asked to re-open the case; the judge suggested, all on her own, that he do so.

    That’s three instances where this judge prompted the bank’s lawyer to do something to prove his case. The judge prompted counsel to ask questions about a lost note, directed him to ask for an explanation of how the note was lost, and encouraged him to re-open the evidence to introduce the lost note.

    Ladies and gentlemen, this is completely, undoubtedly, 100% wrong. And that’s not just my opinion – that’s what many, many Florida appellate decisions have held. Judges cannot help bank lawyers prove their cases at foreclosure trials. This judge did, three times, in fact, but that conduct never should have happened.

    Or yet again when Stopa writes:

    As a foreclosure defense lawyer, I’ve seen pro se homeowners attend hearings in their cases and not be allowed to speak. Not one word. It wasn’t that the judge didn’t hear the homeowner or didn’t realize he/she was present, either – the homeowner asked the judge to speak at a duly-noticed hearing and was not permitted to do so. Homeowner loses, yet couldn’t say one word. Isolated incident, you say? I’ve personally seen it more than once.

    Not being permitted to speak has not been limited to pro se homeowners. I have personally been threatened with criminal contempt – criminal contempt – for moving to disqualify a judge after striking my defenses without letting me say one word about those defenses. Your defenses are stricken, you can’t talk, and if you complain about it, I’ll throw you in jail.

    Or consider what Yves Smith wrote back in 2010:

    Let’s look at one example of banana republic faux justice in the US, via a speech by foreclosure court Judge Roger Colton to his court on how the day was going to go. It’s simply breathtaking. He says that if the bank is foreclosing, he’s not going to consider any evidence that the foreclosure is in error (servicing errors, plaintiff can’t provide proof it owns the note, which means it might not be the right party and procedurally, means it lacks standing to take action). He says he has already heard everything, there is a lot of unemployment in the area; he is going to schedule a court date, but that is merely a deadline for negotiation. In other words, he makes it abundantly clear he has no interest in hearing evidence. When he gets to seeing a defendant after his speech to the court (p. 13), he rubber stamps what the bank wants without even considering the evidence. And apparently his entire day went like that. The summary from an attorney who was representing a client before him that day:

    On 8/30, I had a Summary Judgment Foreclosure hearing on Palm Beach County’s “Rocket Docket”. The judge spoke for 14 minutes to the crowd, of mostly pro se defendants, about how they should just agree to the summary judgment and the plaintiffs, (whose attorneys (Shapiro & Fishman had a dedicated courtroom and to whom he referred to as “my attorneys”) would be gracious (Ha!) enough to allow them to stay in their homes for 120 days if needed (even though the statute says he only has to give them 30). When it came to hearing arguments which were fully briefed and provided to the court (pursuant to the instructions of the Divisions head judge) he only allowed 30-60 seconds for argument, failed to read any of the papers, failed to review the plaintiff’s foreclosure package, flatly ignored the Affidavit filed in Opposition, ignored my plea for a trial, signed the judgment and dismissed me. I never was permitted to even read the proposed judgment or to examine the “newly discovered” allonge which Shapiro’s counsel said I had no right to see.

    Elex, I could do this all day, not because I want to, but simply because the courts do it all day as well, all across America. In my own case, the judge moved to seal hugely damning evidence that I had uncovered against the banksters showing how they circumvented the very laws the court was supposed to uphold, all WITHOUT a single motion asking this judge to seal this evidence. So no other mortgagors will now benefit from my exhaustive, case-damning research. The judge buried the bodies for the adversary. How nice. The judge in my case has also been overhead exclaiming, “These people are threatening our fine American banking system!” With all due respect your honor, go fuck yourself and your system.

    Many who frequent this site have similar stories of corruption in courtrooms across the land. I have no doubt that you will also, when your day of wreckoning [sic] comes. Many here still fight behind the scenes even though having been treated to similar atrocities as described over and over above, in an attempt at preserving legal rights and honing knowledge bases, awaiting the next skirmish. I can’t wait to re-enter the fight, as a matter of fact, I don’t consider that I ever left the battle. I realize that time is on my side, as the tide is definitely turning, almost like in war when decisive battles prove detrimental to the bad guys….supply lines cut….dwindling resources, or what have you. That’s happening slowly but surely, as more and more people, judges included, see through the fog of this war to the underlying realities…that this is all another slow-motion bailout, foaming more runways for criminal enterprises. It will not work. In the end, they will be exposed. It’s happening as we speak. The public is coming around.

    Many here simply slink off after being handed a defeat, never to be heard from again, which is very understandable. Some have no interest in fighting more uphill battles. I get that. Others, myself included, would rather continue to battle until all hope is exhausted, or until the truth is exposed. Resistance movements against these foes will prove very damaging to Wall Street in the long run. As Poppy said, this battle must continue. This is THE defining moment of our time. We can draw the line with the rentier class here and now, or live in their gulag from now on. This will be our children’s fate as well, if we stand down.

    But you go for it. I read your post in the previous thread. Yes, you sound like you’ve figured out your adversary’s Achilles heal. Good luck with that. I would wish you well, but I’d rather wish that you could be afforded a just and level playing field. I just don’t hold out hope that that will happen. As the old English nursery rhyme goes, “If wishes were horses, beggars would ride”, suggesting that it is useless to wish, that better results will be achieved through action. Give it your best shot. Just be prepared to be astounded at the lack of fairness, even civility, in your courtroom. Then, we’ll talk further about resisting and destroying their version of what civilization should look like.

  31. My only comment now is this: this fight goes much deeper than the home…for me at least, we have a lawless society. Even if you are successful in your fight here, there are more and more of them.

    The “corruption” and “cancer” is pervasive. Every right you have as a “human being” is being compromised, at every level.

    And so it goes; round and round. A house is not necessarily a home…but a life’s work, quite another.

    And let’s not forget in many instances, one can make a difference. We have an entire history of “change” when necessary. This culture NEEDS to change or nothing else will.

    The battle with the government and the banksters MUST continue. If they can do this, they can do anything to us, anytime!

    The question really is: who are we as a society/people and what do we want to be?

    My humble $.02, which is about what I have left, under my pillow!

  32. What’s real.
    While the masses have awakened to the pattern of destruction, there are those who noticed nothing until something happened to them.

    When they finally took notice, they looked where they were guided. To the courts for a remedy, and they did not understand the law. It was not written for them, it did not apply to them. So as they saw other people’s homes get stolen, some decided to learn their law and take the action on their own to save their home, their property.

    Others got it, saw what they saw and got out.

    The truth of the matter is, millions, no tens of millions of people have been evicted. The mortgage settlement was for only 4.9 million and a 1 year time span, only a snippet of the farce and it was proven when ‘everybody’ got a check there was fault in their fraud scheme.

    Bot people are looking where they are guided.
    There are pro se who supposedly ‘cracked the code’ and to keep their home they settle and non-disclose. These are the people who said ‘we should all fight this’, but once they got ‘their’ remedy even though it affected everyone, they settled. Where’s the follow up story?

    This system has information. If you win in one place, they come and get it in another. As for answering questions or replying to posts, I post how many people filed for bankruptcy and still have their job? That’s legitimate. After a period of time, it appears to me, they end up on the unemployment line, even if they saved their home that time, they can’t save it the entire time.

    The program is interlocked, if they don’t get it one way, it will be taken another. And for those that think going to court year after year is producing some result, I will not give any information to distract you, but I’d like to see a post from someone who after fighting for three or four or five years of their life whether they ‘won’ and was it worth it. At what cost to your life and how much money was lost, how about the health, family relationships, etc.

    I know people who walked away and they are happier than they’ve ever been. I was robbed. If I live in that past, I can’t live ‘Now’. The past, is gone. What’s done is done.

    Neil can post until he’s blue in the face, no loan, no obligation, no money due, funded by investors, etc, and people will still go to court and have to ‘find that phrase or that discovery that saves their home’.

    Why is that?
    Why if it’s proven no money changed hands, are these banks still suing and you (whoever you are) are still being pulled into court with more paperwork? A plaintiff has to prove their case, that has always been the case, but so far the plaintiff has not proven anything, just stuck a lot of documents into a court case by representation. You can’t even face your accuser, let them say they loaned you money and you owe them like on a Judge Judy show, yet you think you are still winning.

    To judge us over a single case over property is ‘short sighted’. One who knows who they are, do not need self esteem or to redeem via the Creator in another.

    Many have shifted this system, whether their home was stolen (meaning they never got it back), or whether they saw a need for others who’s home are stolen and (they never got it back) or saw a need through those who got a modification that they fought for and (the home was taken legitimately and legally because it’s a new agreement to pay).

    The Frank O’Collins and Bo and Rocko and Terri Hinkle and Karl Lenz people are out there trying to educate the people about the ‘system’ and as much as they open doors, it gets closed by those controlling things. It took the Pope to finally say something on July 11th to turn the tables in our direction.

    I’m one of those investors. I have a 401K and it’s invested in real estate, it’s a Real Estate Investment Trust, so how can I be double paying for my property and someone still say I owe them money when it was a 30 year promise and the promise could only be accelerated by the one I made the promise to. They can sell their ‘interest’ in the note, but that doesn’t mean they can make me do anything about it.

    Me and A have an agreement. A needs some money and tells B, hey guess what, if you give me this amount of money, well see I got this arraignment where A pays me this much per month. I’ll give you a portion of that for helping me out. Be gives A some money and A passes portions of the money received to B. But one day A goes away for whatever reason and B starts knocking on my door telling me I have an agreement with A but I need to pay them. If I don’t pay them, they are taking my home.

    In any world, of common sense and good conscience, that’s extortion and a shakedown. But no, if they call it a mortgage and a foreclosure and the people sitting here ‘all made equal’ post their higher than might posts about some being stupid or ignorant or wasting their time, and they get caught up in word games and somehow think the theft is legitimate because they are still fighting it.

    We can choose our way, but unlocking this was never going to take place in their courts under their rules and trying to play by their rules.

    Morpheus said it best in the matrix. Their world is based on rules. Some you can bend, some you can break.
    Thus if their rules does not apply to you, it’s broken, if it does apply to you and they can’t tell you how, it can be bent because it’s not firm.

    It’s an illusion, and going in with blinders on, and words on paper means nothing. If there is an interest in that neighborhood, they can let one fight for years while their neighbors witness it, only to have a lot of witnesses see the outcome. Like a lion playing with it’s dinner.

    I’m not discouraging you. For the few who will get through like lottery winners, I’m going to be celebrating with you, but for those that don’t make it, the odds were like any gambling situation where winning it’s based on odds even if you are playing by their rules.

    I’ve seen just about every legal argument. By the time it’s posted here, there’s maybe a few wins and then they write a rule such that it doesn’t allow another win using that ‘legal argument’.

    If you have a good argument, keep it in your pocket since you want to save ‘your house’.

    The truth is out here. We all know it. Not sure why we can’t see that it’s not a court of justice. Not sure why we don’t know it’s there for another reason, they serve another purpose, and have another master for which they’ve taken an oath to represent and protect it’s identity at all costs. It will always be a fictitious name well represented when by their own docs you have a right to meet your accuser. If the accuser doesn’t show up in court, no case. They can show up by video conference. You never get their testimony, nor affidavit. Just a bunch of paperwork and a judge willing to serve that same master, because the judge took the same oaths as those that represent the one hiding behind the fictitious name. Talk about conflict of interest.

    There is no debt, no obligation, the paperwork was separated, the original note was scanned into a computer and destroyed so an original and copy of the note could not be securitized at the same time. Then behind MERs they sold it back and forth to each other getting payments for each transaction, and not talking insurance and derivatives and investors.

    The only way to see the ‘real world’ is to be real in the real world even when someone is sending you a fictitious argument, with a fictitious plaintiff.

    The only reason the tables have turned is there are people behind the scenes cracking the code of their words. Actually learning what it means legally, actually getting the root definition of words they use.

    A thief may have someone’s property but they have unclean hands because they stole it. Nothing is unknown because it’s all got a paper trail, that’s why an audit reveals the truth.

    If it’s true someone was robbed and they don’t have their home, it’s nothing to demean them about unless if makes the one demeaning them feel better about their self by lashing out like that at someone who has been robbed.

    If someone is the thief or works for the thief and are posting here, then it explains why they get angry that people aren’t fighting back or aren’t seeking new contracts via moodifications. It tries to give legitimacy that the home was part of some tug of war where two people claim to be the owner of the same thing, and they are each tugging for it through court and paperwork and someone (a judge) intervenes and decides who can have it.

    Trespass Unwanted, Creator, Corporeal, Life, People, Independent, State, In Jure Proprio, Jure Divino

  33. elexquisitor

    Not for anything here, but strategy matters too….And the fact is, I have been on here 3 + years and some people are still talking about the same things, that never worked. Then you have those who fill the blog with cut and paste of things that are really unrelated to the nuances of this particular fight.

    The bond holders were on the table long before Neil “broke” the situation down, fractional ownership, where most will NEVER find the owner, and converted their note into a payment stream to people who have no authority to foreclose. Then “servicers” a catch-all phrase these days…and 90% of the readership here has NEVER even entertained looking up the definition of what the words mean e.g. servier (REMIC, not servicing an account, very different), beneficiary, nominee…this can open up a can of worms, as this is a game of “words-semantics”…the paperwork is counterfeit…you must know your enemy and how they work.

    And being in the proper jurisdiction…you shouldn’t be in the state courts with a “commercial instrument”…nor should you be in the Federal Court with a debt collector all of this MUST be defined before the battle begins.

    Just my short piece on this…no lawyer, no advice, just sound thoughts on what the game is really about! Don’t complicate it, you cannot trust the paperwork…validate and verify! The answers are in your file. Read them over and over again and understand what you read and deny, deny, deny…because most of the loans are “unsecured” ! Your money has been stolen…and now your land(it’s not about the house, per say)

    Just my $.02 on the matter.

  34. Neil
    Above fighting for our properties ( sometimes out of necessity like zombies) we are real people –
    . any one on medication has to be cautious of a bad connection between grapefruit juice and some medications.
    thanks for the info you give us and wish you feel better soon

  35. Neidermeyer,

    Nor am I. Nothing happens in a vacuum and things are moving worldwide, outside of that system. Derivatives were a very punctual and time-limited experience, the end of which we are slowly seeing. That being said, it implicates this country’s economy and very few people appear to want to look beyond them. Focusing on trusts and trustees is still being hung up on derivatives.

  36. I’m beginning to realize this is a ‘reality’ blog – part Real, mostly fictional posts by ‘authors’ who lost the war of their home based on their understanding of law and micro-economics. Yet these same posters seem to have a contest of who can combine the most useless facts with the greatest emotional impact about macro economics to earn points they can use to redeem their self-esteem. If it weren’t such a waste of my time and those actually fighting in the courts to save their homes, it would be pathetic.

    Interestingly enough, none of them responded to the post of actual legal tactics and logic that I posted in the previous topic, that might actually help someone facing foreclosure.

    Fresh lemons, … indeed …

  37. @ Neil ,

    Excellent post ,, nothing really new here but I think you’ve hit on a narrative that is easy enough to understand (as well as accurate) that we can continue to work on turning the opinion tide which I see as our most important work. Other blogs where I hang out are no longer fighting “our” version of the crisis as the truth continues to come out.

    @ Christine 7:43pm

    I am less and less worried about the derivatives … this has dragged out for 6 years already and I’m sure many/most of those contracts have sunset dates … they’re just paper backed by nothing but goodwill and lies from entities like GS that have absolutely no intention of ever paying off on even a valid debt… they will all be worthless with one turn of the available cash float ,, the first to be paid off will universally refuse to pay off down the line…

  38. The Armageddon Looting Machine: The Looming Mass Destruction from Derivatives
    Posted on September 17, 2013 by Ellen Brown

    Five years after the financial collapse precipitated by the Lehman Brothers bankruptcy on September 15, 2008, the risk of another full-blown financial panic is still looming large, despite the Dodd Frank legislation designed to contain it. As noted in a recent Reuters article, the risk has just moved into the shadows:

    [B]anks are pulling back their balance sheets from the fringes of the credit markets, with more and more risk being driven to unregulated lenders that comprise the $60 trillion “shadow-banking” sector.

    Increased regulation and low interest rates have made lending to homeowners and small businesses less attractive than before 2008. The easy subprime scams of yesteryear are no more. The void is being filled by the shadow banking system. Shadow banking comes in many forms, but the big money today is in repos and derivatives. The notional (or hypothetical) value of the derivatives market has been estimated to be as high as $1.2 quadrillion, or twenty times the GDP of all the countries of the world combined.

    According to Hervé Hannoun, Deputy General Manager of the Bank for International Settlements, investment banks as well as commercial banks may conduct much of their business in the shadow banking system (SBS), although most are not generally classed as SBS institutions themselves. At least one financial regulatory expert has said that regulated banking organizations are the largest shadow banks.

    This is NOT going to end well. Not here anyway…

  39. Why was there a need for 2 trustees? One on the DOT and one for the fake securitization? Which one takes precedence in a foreclosure if the mortgage wasn’t assigned. Common sense would tell me that it must be important to have the foreclosing trustee on record otherwise why would they substitute the trustee in the first place. I don’t think the title companies want the liability.

    Aren’t trustees supposed to have a fiduciary responsibility to the borrower as well as the lender? If they didn’t they would serve no purpose. We would just have a mortgage and not a deed of trust.

    How can Deutsche executives call their mortgage “pigs” and “crap” and how can they wear shirts that say “I short your house”. I guess I got more questions than answers. Somethings just don’t make sense.

  40. There is something profoundly screwed up with nabbibg someone on fraud charges, convicting him to jail and… rewarding him after the fact for having given info. Typically, people give info to assure a lesser sentence or in order to obtain probation instead of hard time. It’s called negotiating. At least, that’s how it used to be.

    Nowadays, we throw the bomb in jail for 2 years (at taxpayer’s expense) and… reward him (at taxpayer’s expense).

    What a fucked up country!

    $104 Million To Be Given To UBS Whistleblower
    September 12, 2012 — 3 Comments

    Bradley Birkenfeld, the former UBS banker credited with helping break open Uncle Sam’s investigation into secret untaxed Swiss accounts, is about to be $104 million richer.

    The Internal Revenue Service has recommended that Birkenfeld receive that impressive amount after he has now served around two and a half years in federal prison for a fraud conspiracy conviction related to the case.

  41. Finally, JPMorgan Admits The Bank Broke The Law

    The Huffington Post | By Mark Gongloff Posted: 09/19/2013 10:58 am EDT | Updated: 09/19/2013 6:34 pm EDT

    In the years since the financial crisis, we may not have solved too big to fail, sent any bankers to jail, or done much to prevent another financial crisis, and we certainly haven’t changed Wall Street’s devotion to money-making at all costs.

    But we at least have finally gotten a bank to admit it broke the law.

    In what amounts to a relatively stirring triumph of justice on Wall Street, the Securities and Exchange Commission has convinced JPMorgan Chase, the biggest U.S. bank by assets, to admit that it broke federal securities laws in its handling of the $6.2 billion “London Whale” trading debacle.

    “JPMorgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses,” George Canellos, co-director of the SEC’s enforcement division, said in a press release announcing the bank’s settlement with the SEC. “While grappling with how to fix its internal control breakdowns, JPMorgan’s senior management broke a cardinal rule of corporate governance and deprived its board of critical information it needed to fully assess the company’s problems and determine whether accurate and reliable information was being disclosed to investors and regulators.”

    Still not a real admissions of having broken the law in my book. Still wishy-washy but, at least, some admission of having failed to do something. We’re getting there slowly.

  42. Karen Hudes appears to have nailed it: America is finally+ starting to crack down on the bank abuses. Not a minute too early… And we still don’t know where all that money goes, the fees, the fines, etc.|main5|dl21|sec3_lnk2%26pLid%3D378448

    More Bad News for JPMorgan: It Owes Credit Card Customers $309 Million
    by Matt Brownell Sep 19th 2013 3:27PM
    Updated Sep 20th 2013 9:15AM
    Credit cardsAlamy
    JPMorgan (JPM) is having a very bad day.

    Just hours after it was announced that the bank would be fined $920 million for its “London Whale” trading loss fiasco (not the mere $700 million or $800 million first reported), news came down that it must also pay customers $309 million for bad credit card practices, plus $80 million in fines.

    The Consumer Financial Protection Bureau announced today that JPMorgan Chase and Chase Bank have agreed to pay refunds totaling $309 million to more than 2.1 million customers. The joint action with the Office of Comptroller of Currency “found that Chase engaged in unfair billing practices for certain credit card ‘add-on products’ by charging consumers for credit monitoring services that they did not receive.”

    Sound familiar? It should. The marketing of credit card add-on products was actually the subject of the CFPB’s very first enforcement action, which forced Capital One to reimburse customers $150 million. Clearly, this sort of misbehavior is something the agency takes seriously.

  43. What he is saying is “we are the indenture trustee – or trustee of the grantor trust”

  44. Agreed

    Sent from my iPhone

  45. Bair, p.46

    So how’s that make you feel: loans were a ruse all along, and we’re all ‘flop sweat’ to figure out what went on here? For 7 years?! THEY’ve just been playing with us?

    And if lucky enough to have won your case & get a 2nd time around, none of what they did the 1st time will be relevant?!? That was the old case, this is the new?

  46. People have a right to decide their own fate in any controversy created by someone else. People have a right to not be pulled into a controversy.

    In all the countries we’ve invaded, there were people who did not join in the fighting, men, women, and children were killed and weren’t fighting the one who came in, invaded their space and oppressed them.

    So what makes stealing homes any different. Human nature may have evolved to not fighting and not being manipulated into fighting.

    Mandelmann can count on one grain of rice how many people went to court and fight and it won’t matter a lick. He should have another list on how many filed bankruptcy and still have a job, filed bankruptcy and still have their home, won the case and could not make the payments and lost the home, won the case and didn’t pay taxes and was foreclosed, won the case and an HOA took it, refinanced the home after winning a case and could not make payments and got foreclosed on, etc and so on and so forth.

    His counting means nothing. We are tired of fighting and we are tired of bullies and we have a right to say ‘no’, and if someone still takes it, then we don’t have to fight to get it back. We said no and they committed the trespass. Two people don’t need to go to hell, Just one.

    Anyone knows that if two people fight when neither should, they are both considered at fault and someone else determines who wins.

    If One comes in and beats up the many who did nothing to provoke the attack and did not fight back, the One can easily be identified as the bully/terrorist and anyone charged with protecting the women, children, and the innocent have a duty to assume their position and protect.

    People ignore basic definitions and think others who do nothing are the ignorant ones.

    Their courts, their ordinances, laws, citations, provisions, codes, etc are for ‘persons’. But no one wants to recognize what a ‘person’ is.

    The definition of a person is written in their code. Attorneys represent persons. Definition of a client is a person. Definition of man, woman, or child is a person. Student is a person, Guardian is a person, parent is a person, employee, patient, applicant, and so on are persons.

    Their system has persons and persons have to be ‘re’ presented in a court. Attorneys represent persons, so they represent corporations and State of (x) against the ‘person’ that is identified as the Defendant. Judges are choosing between corporations and deciding based upon presumption of contractual agreements, and who is the better debater.

    Chapter 7 and chapter 11 bankruptcy are for corporations, chapter 9 9 is for municipalities. People file for bankruptcy not realizing (or not caring) that they are playing word games and relabeling them as persons in order to clear the accounts that those same people are unaware of.

    The last shall be first.
    This system is unwinding and the people that will survive it will survive it by divine plan and no other plan.

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

  47. Reblogged this on Deadly Clear and commented:
    That’s why the government knew these were NTMs (nontraditional mortgages) but the homeowners didn’t. “Hybrid ARMs were not being offered to expand credit through lower introductory payments; they were purposely designed to be unaffordable, to force borrowers into a series of refinancings and the fat fees that went along with them.” Sheila Bair, Bull By The Horns, pg.46.

  48. Published on Sep 18, 2013… Karen Hudes, a former 20 year employee of the World Bank, contends the U.S. credit rating is on very dubious ground. Hudes says, “This is actually an underhanded move because they know the U.S. dollar is going to lose its status as an international currency.” What would that look like to the man on the street? Hudes predicts, “Prices would change on a daily basis. They would double. The number of families that would be employed would be in the minority . . . there would be lawlessness.” Join Greg Hunter as he goes One-on-One with former World Bank lawyer Karen Hudes.

    Prices ARE changing every day. Last night, gas was 3.16. This morning, it is 3.55. Right now, it is just gas (and heating fuel). As soon as the US currency loses its status, every single price will fluctuate daily. Hudes is making a point of the new bank created by BRICS. Her gripe is that the public is being deliberated kept misinformed and/or uninformed.

  49. If these statements are true from Deutsche Bank and BONY then we need to get the depositions into the court records immediately….please provide that information and we will be able to further our dismantalling of the fake securitization machine in the courts of law and throughout the country.

  50. Mandelman is right. JDBs are mushrooming all over the place, they seize houses as fast as they can and they don’t have a care about REMIC and SEC violations and saving their bad names. And once the loan has been sold, claiming anything about trusts or lack thereof is meaningless.

    Nope. No progress yet. And he is right too that no concerted effort by the homeowners is at the root of the problem. Fewer than 5% fight. Fewer than 1% insist on a jury trial. Those looking at their documents and attacking first before being in default can be counted on the fingers of the hand.

    What people NEED to know about the foreclosure crisis in 2013 & 2014

    Here’s the first fact about the next few years that you NEED to know:
    This year we’ll see the largest sales volume of non-performing debt in history.

    That means that the holders of non-performing loans are now selling them to debt buyers… organizations whose interests are not to modify, but rather to foreclose quickly and flip the house cheap… and with as little investment as possible, too. Next year is forecasted to be more of the same, and who knows what comes after that.

    It would seem to me that there wouldn’t be any Pooling & Servicing Agreement limiting what the loan’s new owner can do with the loan, and somehow I can’t imagine that the new owner would be participating in the HAMP program. In fact, I think it’s safe to say that the buyers of these non-performing loans will have little or no interest in modifying loans… ever… that’s just not why they’re buying the loan.

    They’re buying it to empty and flip it as quickly as possible… period.

    The Unthinkable… the loan modification process gets worse?

    My point is that the increasing sales volume of non-performing loans means the unthinkable… that it’s going to get even worse for homeowners who are seriously delinquent and need to get their loans modified in order to keep their homes. Brand name servicers may be difficult to deal with, but debt buyers who buy non-performing loans don’t have reputations about which to worry.

    Pardon me for saying so, but we certainly haven’t gotten very far by flailing about in all directions.

    The Writing is on the Wall…

    The sales volume of non-performing loans at record levels should not be a surprise… at a certain point investors are simply better off to stop the losses resulting from loans in default by letting someone else take on the risk going forward. That’s also why we’re seeing the billions in servicing rights being sold and transferred to servicers with names we’ve never heard of until now.


    Had we started out in 2009 with a fair and effective loan modification process, how many homeowners would be attempting to litigate over document fraud, securitization fail, and countless other legal challenges that at best cost untold thousands, and at worst just flat out fail far more often than anything else?

    And that’s a fact, folks. You want to get mad at me for stating the truth… I guess that’s okay… it’s disappointing, but there’s certainly nothing I can do about it. I’m never going to be someone willing to lie in order to be popular.

    I do think many will ultimately remember that they heard it here first… that it’s about to get worse, not better.

    It’s up to us to force things to change and we have the power to do it… but not as divided as we stand today. The way we are today, in terms of being any sort of “movement,” I’m quite sure that I’ll be re-posting Sarah Bloom’s speech again two years from now and it will be as relevant as it is today… and as it was two years ago.

  51. Oil of Oregano will also kill off what you have, give it a few days, also a good proactive measure to take to prevent getting sick.
    It is potently strong and has serious anti bacterial, viral and fungal properties.

  52. Quote from the article:
    What he doesn’t say is what he means by “Trustee for the loan” and why the “trust” should be considered real as a legal person when there is no financial account or assets held in the name of the Trust. Like Reynaldo Reyes at Deutsch Bank, he is basically saying there are no trust assets, there never was any funding of the trust, and there never was an assignment or purchase of the loan by the trust — for the simple reason that the Trust never had a bank account much less the money to buy loans or anything else.

    Neil get well soon, thanks for the post, my opinion is,
    He may be saying he’s the trustee who is supposed to hold property for a beneficiary, and seeing no property has funded the trust, the beneficiary named gets nothing and as trustee he doesn’t have a legal duty to initiate a foreclosure on nothing. Maybe he’s saying the trust is void. It needs a beneficiary and property.

    If the beneficiary is gone too, then it’s really void because he’d have nothing to take action for as the named beneficiary abandoned the trust.

    As far as banks bringing suit in the name of BONY, it’s old news, they hire ‘substitute trustees’ to represent their interest in the property.
    A sort of first come first serve on the theft. After getting a judgement in their favor they tell the BONY trustee of their win and the substitute trustee wants the ownership papers from the trustee of BONY, who has nothing to transfer.

    Trespass Unwanted, Creator, Corporeal, Life, People, State, Free, In Jure Proprio, Jure Divino

  53. we are now at The Law of Rule

  54. So when OCWEN just last year filed an assignment where their personnel signed as the “Attorney in fact” for Bank of New York Mellon as Trustee for a CWABS trust, they did so without the permission of that Trustee?

    It had already looked hokey enough with the assignment in favor of the entity that OCWEN is supposedly working for. And it was a second attempt to assign the loan to the long-closed REMIC trust.

    Hmmm. Guess I should talk to PI Bill Paatalo.

  55. Thank you, Neil, for sharing.
    Fresh Citrus (grapefruit, oranges, Lemons) will help you heal quickly. Eat them excessively and squeeze the juice in your water and hot tea for congestion; Epson or Himalayan salt bath/feet soak for cleansing.
    ♥ Heal intentionally and internally.

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