Housing Wire, Ben Lane (see link to article below): “Bank committed fraud in order to show ownership.”
We are entering the 6th inning of the game started by Wall Street when it created the smoke and mirrors game based upon false claims of successors and securitization. As lawyers actually do the work investigating and researching, they are getting results that come closer and closer to the reality that the whole thing was a sham.
For each Appellate decision, like this one, there are hundreds of rulings from Trial courts in which Orders were entered finding for the borrower and against the “lender” — simply because the pretender lender was identified as trying to foreclose on property to enforce a debt that was owed to somebody else. Either Judgment was entered for the borrower or, in thousands of cases, discovery orders were entered in which the pretender had to open its books, along with its co-venturers, to show the money trail, which almost never matches up with the paper trial submitted to the court.
But the problem remains that most Judges are still stuck on moving the burden of proof onto the borrower instead of the party seeking foreclosure. The lawyers say it doesn’t matter what the borrower is saying about the paper trail or the money trail or the so-called securitization of the loan.
It doesn’t matter, according to them, if the act of foreclosure itself is an act in furtherance of a fraudulent scheme that started when mortgage bonds were sold to investors and that the money was used in ways the investors could not have imagined. It doesn’t matter that the pretender lenders are taking money from the the real creditors, along with assets that should have collateralized the investment of the real lenders, and taking the homes of borrowers from them despite their entitlement to credits and opportunities to modify under law.
It doesn’t matter that the “lender” broke the law when they made the loan, broke the law when they transferred the the paperwork, and broke the law when they created paperwork that was NOT the outcome of any real transaction.
Attorneys for the banks are actually arguing that it doesn’t matter where the money came from. All that matters, according to them is that money was received by the borrower. The fact that it didn’t come from the lender identified in the closing documents is irrelevant. The consideration is present because the lender promised the loan, and even though they never made the loan or funded it, the lender managed to get somebody’s money on the closing table. That is consideration, according to them.
The danger of this argument, often readily accepted by trial judges, is that it opens the door to the moral hazard we see playing out in virtually all foreclosures. One attorney actually said that if our “theory” was right, then the whole foreclosure docket would be cleared, as though that would be a bad thing. Here’s our theory: “Follow the Law.” In other words stop the servicers and other intermediaries from pushing cases into foreclosure to the detriment of BOTH the creditor and the lender.
This is not one case involving moral turpitude by one Bank. Chase Bank has been involved in a pattern of behavior of falsifying facts and documents from the beginning in a coordinated effort with all the foreclosure players, to force as many foreclosures as possible, dual tracking innocent homeowners, luring them into default with false statements about how they needed to be 90 days behind to be considered for modification, and falsely claiming that the money on the loan was owed to the forecloser — or some unnamed creditor which gave them the right to enforce.
It is still counter-intuitive for most people in the system to confront the truth and believe it. These loans were mostly created pursuant to prior Assignment and Assumption Agreements that called for violations of Federal and State laws. Those agreements were void, as being against public law and public policy, and so were the acts emanating from those agreements. And the perjury, fabrication, robo-signing and unauthorized execution of false documents are the rule, not the exception. Why? Because it is a cover-up.
If banks (as the middlemen they are supposed to be) really did what the securitization documents said they should do, they wouldn’t need false documents, false facts, and false testimony. If the foreclosures were genuine they would not need to rely on false presumptions about holders, holders with rights to enforce and ignore differences and conflicts with holders in due course.
Falsification of facts and documents for closing of loans, collection of payments, and enforcement of false notes and mortgages, is now the rule. What are we going to do about it. Chase Bank didn’t do this by “accident.” It as intentional. Why would they ever need to do that if the loans were genuine, enforceable and being enforced by the real creditors?
For further information call 954-494-6000 or 520-405-1688.
Filed under: AMGAR, CASES, CORRUPTION, escrow agent, evidence, expert witness, foreclosure, foreclosure defenses, foreclosure mill, GTC | Honor, investment banking, Investor, MBS TRUSTEE, MODIFICATION, Mortgage, Motions, Pleading, Servicer, STATUTES, Title, TRUST BENEFICIARIES, trustee | Tagged: Assignment and ASsumption Agreement, Chase Bank commits fraud, dual, dual tracking, falsify documents, pretender lenders, public policy |
https://www.dealview.net/dvnet/deallist/49
If proceeds from the assets of the trust are
not sufficient to make all payments provided for under the
pooling and servicing agreement, investors will have no recourse
to the depositor, the seller, the servicer or any other entity,
and will incur losses.
The TALF began operation in March 2009 and was closed for new loan extensions on June 30, 2010. This was intended for the commercial securitizations, non RMBS, but they shot the money all over the place. Every one of these banks got the money at near-zero cost, and whacked everybody for 5 to 33% interest on their debt.
Ukg- whatever happened to all the loans pledged as collateral under TALF? I never was able to find out
@Scott Thompson: BlackRock is the asset manager for TARP. GMAC/ResCap is the servicer for most of the assets in ML1. That ended with the Ally bankruptcy in the SDNY. Now all this junk is back in the lap of the asset managers like Pimco and BlackRock, and they’re trying to figure out what goes where. Too many pieces. If, somehow, they really get a handle on all of that fraud, and there IS fraud, lots of it, the litigation will only be quashed by the Statute of Limitations. 6 years is 6 years. They’re off the hook. For the ORIGINATIONS, THAT IS. All of the servicing fraud, assignment fraud, failure to deliver, those claims are new as they’re discovered. I don’t think the bank/servicer/sponsors will be able to stop this.
I raise my Glaski to those who requested publication of Kaliski. The count as of Friday was 12 – 0 requesting publication.
Here is another win:
http://www.sacbee.com/2014/07/18/6566661/yuba-jury-awards-16-million-in.html
How do you get that money back out of the caymans ? Where did it all go that real money with the holographic Paper backing it-
Somebody on another thread/board raised the question as to why they waited so long to effectively sue themselves? Maybe trying to cap some sort of Investor loss payout?
Who knows, maybe it really is the shot gun blast to the chest. Finally.
9 zero’s in a billion. I had to Google it.
Make it a Great Day.
Scott Thompson- the mortgage market is 13 trillion, give or take. The banks double and triple pledged the MBS w the same loans. The record as I understand is the guys note for 545k was in 55 trusts. They sold the note 55 times to different investors. So the banks got about 26 million for his 545k note. which of course was created out of nothing to begin with. With these types of numbers and fraud, the 250
billion pimco/ blackrock
Complaint is easier to grasp. Or maybe a lot of it is for lost income, who knows . Haven’t read the complaint yet. My note is probably in there!
I would settle for any info on the names of those who signed documents, such as affidavits, assignments, notarizations in the original case. Please send them to me at jordanalipscomb@gmail.com
This thing really has baked my noodle all the way. And who can even compute 250 BILLION. How is that even possible./?
Though of the day
StAy focused on your cases is where your power lies. Don’t get distracted, be selective regarding what is worth your research time and what is not going to apply to your unique set of pleadings and circumstances regarding where you are procedurally. There are things you can and cannot do in court at specific times – reAd your frcp and local rules discovery rules and watch to see if opposition breaks them because they do and if so rAise it get it on record
Exploit every legal opportunity you are allowed operative word ” allowed” stAy on the right side of the law. We can talk all day about the frauds until blue in the face but everyone realize this THE Time had to be right. And it’s time.
Not an attorney I’m pro se. Just sharing. Please research well before acting. Best to find a honorable experienced attorney if you can.
Scott, I think your bag has a hole in it. You are losing your Marbles.
This could fun. This could get really-really fun.
Make it a Great Day.
@ Scott Thompson ,
great stuff , I’m spreading the word…
Scott Thompson.
The stick analogy – YOU CANT PICK UP ONE EnD WITHOUT PICKING UP THE OTHER. ( quoting NG)
http://www.blacklistednews.com/
Black Rock and Pimco apparently just dropped a 250 billion lawsuit bomb on the major banks. Something about fiduciary duty and fake mortgage’s and such.
It is no joke. You don’t need a team of lawyers for these mega-retard foreclosure firms – You need Smith & Wesson.
1000 meters out in the high winds and rain – they won’t even hear the pop.
Make it a Great Day.
Hey Jordana. Also, attorney Barry Fagan has the order embedded on his site.
Shouldn’t there be a rustle of handcuffs when the court says “….a Chase executive created a document in which Chase fraudulently represented that a prior assignment had been lost and that Chase owned the Kalickis’ mortgage?” Add to that the further criminality in recording such a bogus document, and you gotta’ know that if it were lil’ old you and me doing the nasty, we’d be clanking around with our ankles welded together until our dentures fell out. Seeing as how Chase is a corporation, and therefore has equal if not better rights than we lowly regular people have, thanks to our all-knowing SCOTUS, I’d love to see the entire personhood known as JPMC serving a lot of time in a small room. I’d gladly settle for one Jamie Dimon.
Any of you living in CA should consider hounding Kamala Harris….you’ll assuredly find her speaking at a bankster luncheon somewhere…. until she gets out her dusty, never before used (on banksters) handcuffs. This would go a long way towards nipping this kind of behavior in the bud. Prisons are filled with regular folks who never should have tried stiffing a bank with mortgage fraud. Let’s turn that around, for once.
Yesterday, Senator Warren was grilling Janet Yellen when she revealed the fact that JPMC has 3,391 subsidiaries, and that it’d be some kind of fun watching the FDIC try and put that beast down as in Dodd Frank.
3,391!
Probably one or two of them are legitimate and not setup exclusively for obfuscation.
Speaking of the FDIC, in that Kalicki case it appears that the FDIC tried to run interference for Chase when they argued for mandatory administrative claims. You have to hand it to these banks and their regulators; they’re really good at what they do. I don’t mean banking and regulating, I mean obfuscation and criminality. But their strongest suit is in capturing governments large and small. Nobody does it better.
Absolutely on the publishing of Kalicki.
This is a better link about the Kalicki case, with a call to action to GET IT PUBLISHED so we can all add it to our arsenal of defense weapons –
http://stopforeclosurefraud.com/2014/07/13/kalicki-vs-jp-morgan-chase-request-publication/
Neil you forgot one thing.
http://darwinbondgraham.wordpress.com/2014/05/19/california-appellate-court-judges-ownership-of-stocks-and-bonds-of-financial-companies/
and I think it goes deeper. The District Attorneys, Senators, etc…. Now I am only suggesting.
GOD BLESS AMERICA
Chase being slammed in Ohio ! Great Job Christine! No surprise she went for the juglar too! Enough was Enough A Long Time Ago! This Country is Emploding! Russia, China and Germany had enough of our Banking system! When will Americans?
Looking for a link or cite to the original 2012 trial court judgment.