Where has all the money gone?

Posted on January 19, 2016 by Neil Garfield
THE BANKS ARE NOT ENTITLED TO THE BENEFIT OF ANY PRESUMPTIONS AFTER DEMONSTRATING CLEARLY THAT THEY HAVE BEEN CONTINUOUSLY VIOLATING EXISTING LAWS AND MANIPULATING THE LAWS OF EVIDENCE TO ACHIEVE AN UNJUST RESULT. LAWYERS FOR HOMEOWNERS SHOULD FORCEFULLY ARGUE THAT THE PRESUMPTIONS RAISED IN THE UCC AND OTHER STATUTES DO NOT APPLY TO THE BANKS BECAUSE THEY HAVE AMPLY DEMONSTRATED THAT THEY LACK CREDIBILITY, RELIABILITY AND AUTHENTICITY AS A PATTERN AND PRACTICE. INSTEAD OF PROVING THEIR FORECLOSURE CASES WITH PRESUMPTIONS THEY SHOULD BE FORCED TO PROVE THEIR CASE WITH FACTS.

===========================

WE HAVE REVAMPED OUR SERVICE OFFERINGS TO MEET THE REQUESTS OF LAWYERS AND HOMEOWNERS. This is not an offer for legal representation.
Our services consist mainly of the following:
  1. 30 minute Consult — expert for lay people, legal for attorneys
  2. 60 minute Consult — expert for lay people, legal for attorneys
  3. Case review and analysis
  4. Rescission review and drafting of documents for notice and recording
  5. COMBO Title and Securitization Review
  6. Expert witness declarations and testimony
  7. Consultant to attorneys representing homeowners
  8. Books and Manuals authored by Neil Garfield are also available, plus video seminars on DVD.
For further information please call 954-495-9867 or 520-405-1688. You also may fill out our Registration form which, upon submission, will automatically be sent to us. That form can be found at https://fs20.formsite.com/ngarfield/form271773666/index.html?1452614114632. By filling out this form you will be allowing us to see your current status. If you call or email us at neilfgarfield@hotmail.com your question or request for service can then be answered more easily.
================================

THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

—————-
We keep hearing about “settlements.” Yet any review of the settlement announcements and settlement agreements shows that nothing was settled. So Goldman Sachs pays $5 Billion to someone, somewhere, certainly not providing any tangible relief to victims of fraud, forgery, filing or recording false documents and the list goes on. Both investors and homeowners were screwed by Goldman Sachs and the other major banks.
 *
But the real question is this: given the fact that there were administrative and law enforcement findings that the banks engaged in illegal behavior, and given the fact that this resulted in wrongful foreclosures, where is the announcement that such foreclosures should at least be reviewed, coupled with an enforcement mechanism?
 *
The settlements usually have some “review” provision that is in actuality “self-enforced” by the bank. Letters to the State attorney general and CFPB result in virtually no independent investigation. They act more like neutral credit reporting agencies — i.e., a conduit for trading challenges.
 *
The first thing that should be universally accepted is that these settlements were of course a drop in the bucket as it relates to a much larger scheme with far greater damages caused to the financial system, investors and borrowers. That means that fraudulent documents were used in what appears to be the vast majority of all foreclosures. That fact alone should be sufficient for an administrative finding clearly stated that the banks are not entitled to any presumptions based upon apparently facially valid documents.
 *
WHY DO WE KEEP SEEING DECISIONS BASED UPON “LACK OF STANDING”? WHY DOES THE BANK SIMPLY WALK AWAY FROM ACTIONS WHERE THEIR FORECLOSURES ARE DISMISSED AND VACATED? WHY DO THE BANKS ABANDON PROPERTY THAT THEY FORECLOSED UPON?
 *
Think about it. Lack of standing means the banks are not injured parties, the servicers are not really servicers because their contract is with an empty trust, and the trustee of a REMIC Trust is nothing, which is why the banks that act as trustees don’t administer the REMIC Trusts from their trust departments. The whole thing is a sham.
 *
Why isn’t anyone asking, at this point, why are those entities are still pushing ahead with foreclosures when it has been amply demonstrated that they forged and fabricated documents to prove a relationship to the loan that does not exist?
 *
Why has the DOJ failed to step in and force a remedy that protects the investors, who ARE the source of the actual money used in mortgage deals and homeowners who did take SOME of the money that investors gave to underwriters and brokers on Wall Street?
*
Why is anyone allowing (even presuming) that these entities have any right to be in the mix at all? The remedy is simple — as to existing mortgages that were void, that were rescinded, and that were predatory per se or in foreclosure — eliminate the existing servicers, eliminate the existing trustees of REMIC Trustees, eliminate the successor Trustees on Deeds of Trust — because none of them have any real relationship to the loans. THEN create or use some existing government agency to serve as a clearinghouse for modification of mortgage loans with real notes and real mortgages.
 *
There are a bunch of reasons why no real remedy has been pursued. But one of them is that doing as I suggest would cause universal recognition that the notes and mortgages were void from the start and, that borrowers were induced to sign documents that were in furtherance of an illegal scheme contrary to the rights of investors. Yes it would cause the breakup of many banks and yes it would cause the disclosure of how many stable managed funds are under water.
 *
It was wrong to throw the entire burden of losses onto homeowners many of whom were hounded by salespeople to sign up for a loan that made no sense. It is right to bring the real parties to the table and share the risk. But the truth that will come out is that only SOME of the money advanced to underwriters and brokers of “mortgage-backed” securities was used for loans.
*
The banks skimmed, or perhaps the better word is engorged themselves using fictional trades at their trading desk. As a result, 8 years after the crash, nobody wants to really say how bad this crisis is, out of a dark fear that if they tell the truth, the entire financial system will collapse and society will cease to exist as we know it. Meanwhile the only entities that did well in the crash are the same ones who caused it.
 *
Here is the problem with that hypothesis: even it was true, we would be abandoning the US Constitution and our laws installing the banks as the leaders with their hands being the levers of power without any checks and balances. But even more, the widespread myth of calamity in the “Too Big To Fail” hypothesis is plain wrong. We are somewhat unique in the world. Instead of having just a handful of banks with no safety net (except the government) there are more than 7,000 community banks, savings banks, regional banks and credit unions who are already attached to the exact same electronic backbone for electronic transfer of funds.
 *
All of the major banks that collapse when their true balance sheet is revealed could be resolved in an orderly passage to the other banks in the country with ease. The initial psychological shock would give way to a collective sigh of relief as we discovered that the TBTF hypothesis was just plain wrong. That would liberate courts to stop walking on egg shells when they know full well that there is something wrong with the millions of foreclosures based upon entirely false claims.
============================

Goldman Sachs reaches $5bn settlement over mortgage-backed securities
theguardian.com | January 15, 2016
Goldman Sachs has said it will pay $5.06bn to resolve civil claims related to the firm’s securitization, underwriting and sale of residential mortgage-backed securities from 2005 to 2007. The agreement with regulators will reduce earnings for the fourth quarter by about $1.5bn after tax, Goldman said in a statement.
Read more

 

Bank of New York Mellon Trust Company v. Conley
stopforeclosurefraud.com | January 14, 2016
Melissa A. Giasi of Kass Shuler, P.A., Tampa, for appellant. Brian K. Korte and Scott J. Wortman of Korte & Wortman, P.A., West Palm Beach, for appellee Dennis M. Conley. In this foreclosure case, the trial court granted the borrower’s motion for involuntary dismissal because the bank did not present competent substantial evidence of its standing to foreclose. We affirm.
Read more

 

JPMorgan fined $48 million for failures in U.S. robo-signing settlement
reuters.com | January 7, 2016
JPMorgan Chase (JPM.N) has been fined $48 million for failing to meet terms of a settlement to resolve mortgage servicing violations, U.S. bank regulators said on Tuesday. The fine will be on top of another $2 billion that JPMorgan had been ordered to pay to cover remediation costs and foreclosure assistance to borrowers, the Office of the Comptroller of the Currency said.
Read more

 

Filed under: foreclosure |

« »

19 Responses

  1. greg, on January 21, 2016 at 1:00 am said:

    join greg & neva Episode [17] on Talk/Shoe #1-3-9-3-3-5
    TONIGHT – Thursday evening, January 21, 2016 at 6:45 PM Eastern.
    Homeowners & friends discussing Mortgage Foreclosure Defense and Attack strategies and related experiences
    Guests Brenda Reed & Scot K.
    Call in: at 724.444.7444 (then use Call ID: 1-3-9-3-3-5) then “1#” for guest;

  2. Deborah wynn, on January 20, 2016 at 5:44 pm said:

    Agree Greg
    Very much a bait n switch

  3. johngault, on January 20, 2016 at 5:41 pm said:

    http://www.scbankruptcyattorney.com/blog/south-carolina-bankruptcy-court-launches-mortgage-modification-program/2014/12

    Rather “off-topic” but might be some good news / help for some of us.

  4. greg, on January 20, 2016 at 2:13 pm said:

    1ofthemany-
    amazing interview w ken dost
    can’t wait for the webinars
    a paradigm shift?
    the concept of stopping fighting foreclosure and denying the existence of the loan and calling it a lease that was bait-and-switched through the “other” documents at closing – and prosecuting that instead – is amazing

  6. djabelanger, on January 20, 2016 at 11:12 am said:

    THE LAW OFFICES OF EVAN M. ROSEN CRUSHES THE COMPETITION IN A 2 DAY FORECLOSURE TRIAL

  8. Shadowcat, on January 20, 2016 at 10:35 am said:

    Click the deadly clear link and in their search bar,
    Type in. Rehypothecation

  11. Shadowcat, on January 20, 2016 at 8:29 am said:

    7 years … 7 wars

  12. neidermeyer, on January 19, 2016 at 10:09 pm said:

    Can somebody please point me to a good example of a CONTINUANCE REQUEST/PETITION for FLORIDA ,, I had counsel quit over a billing dispute …

    Thanks!

  13. Shadowcat, on January 19, 2016 at 10:06 pm said:

    1forthemoney!! Nice1!

  14. 1ofthemany, on January 19, 2016 at 6:46 pm said:

    for those interested in the Fraud and a very good possibly to make your home be your home once again and you NOT be a renter/tenant
    take a look see…

    also good for those that have lost homes and some of their life.
    good luck to all

    many lawyers will also move on this if they have a clue:
    lots of fiat bucks to be had here

    https://www.youtube.com/watch?v=N-jub2jsqdQ&feature=em-uploademail

    https://www.facebook.com/kdost1/posts/10206402362522172

    All in good time folks :~) and it is time as Neil states over and over

    Peace to you all

  16. lms53, on January 19, 2016 at 1:42 pm said:

    And let us not forget the Chasemdlsettlement where chase breached and mislead their customers into loan modifications which was settled in the federal court in Boston under Judge Stern. I am still waiting for relief. There is a hush clause in place and when I called attorney Gary Klein recently re the settlement, he is spamming my email and returning to me The attorneys were paid 9 million and told to shut up and obviously they have. Very few of the homeowners if any receive any settlement benefit. Chase needs to be re sued for not living up to their end of the settlement benefits that were promised if you remained part of the class action. Totally bogus. Took them 4 years to settle and they threw me in foreclosure knowing that I would be part of the settlement. Hoping to slam the door on me because if they would have foreclosed on me and got judgement prior to the class action being settled I would get nothing. Well guess what I still got nothing. No Justice with these banksters.

  17. Michael Keane, on January 19, 2016 at 1:31 pm said:

    The intentionally mislabeled “Federal Reserve Banks- 12 regional masters and their corresponding, client banks: their commercial shareholders, participate in “Fractional Reserve Lending” with a further ratio of return of 10:1…

    So… they get money for free and then use that money to create debt for everybody else.

    And then make everybody else pay interest on the debt money they got for free after creating it out-of-thin-air…

    And then they use their free money to gain a further rate of return of ten-to-one…

    This means they create your mortgage debt, out-of-thin-air for 100,000.00, let’s say…

    Then, they go to their masters and receive their 6% and then they are also granted the ability to create an additional 900,000.00 they then use to create more debts out-of-thin-air… a ratio of ten-to-one.

    Is there any wonder why this system has fostered criminal, unconscionable USURY?

  18. Michael Keane, on January 19, 2016 at 1:21 pm said:

    The intentionally mislabeled, “Federal Reserve” is owned by an international, criminal banking cartel and they have zero “reserves”- our money is created, by “FIAT”: out-of-thin-air.

    The 12 regional “Federal Reserve Banks” have a client base of commercial banks that borrow money at zero interest and then use that money to create debts for ordinary Americans. Once they create those debts, out-of-thin-air, ordinary Americans must repay these criminals the debt and the interest…

    So… they create debt from nothing and then get paid back very real dollars and very real interest on those dollars.

    Oh… and they are here, doing this illegally.

    Although paraphrasing, in regard to “Tyranny”, Thomas Paine explained: “Just because something has been tolerated for some period of time, that doesn’t make it right”.

    The banks that promote this USURY each pay to own shares of the intentionally mislabeled “Federal Reserve”. Those shares are NOT available to the general public. That makes the intentionally mislabeled “Federal Reserve” a privately-owned enterprise…

    The shares on this USURY return a guaranteed rate of return of 6%…

    That makes this USURY a “for-profit” enterprise…

    So, the intentionally mislabeled “Federal Reserve” is a “PRIVATELY-OWNED, FOR-PROFIT BUSINESS” and it is predicated upon USURY, while manifesting a presence that directly contradicts the Constitution.

  19. Michael Keane, on January 19, 2016 at 1:08 pm said:

    There are 1200 TRILLION DOLLARS owed to this criminal, farce that is aka “central banking”. Don’t believe me: Google, “1200 Trillion Dollars”.

    The banks in question, any and all, among the TBTF are part of a “private, internationally-owned, banking cartel”: the “federal” “reserve” system.

    The “Federal Reserve System” was the brain child of agents for, and of , both: the British Central Banking System and the German Central Banking System; Aldrich for the Brits and Warburg for the Germans.

    Of course, in direct contradiction to Article 1, Section 8, of the Constitution, this foreign presence, “Central Banking”, is now our Lord and Master.

    Any victim of Fraud and Forgery, in foreclosure, can readily admit there is no longer any system of LAW, even as the banks continue to conceal their insolvency…

    THEY OWE 1200 TRILLION DOLLARS TO THE MULTIPLE FRAUDS THEY HAVE CREATED!!!

    GOOD GRIEF.

    The number, above, renders the offenders INSOLVENT. As such, they are in zero position to collect any money from anyone. If they showed their books through “M3”, it would be common knowledge by now they have destroyed themselves through their own GREED.

    ANY support for Hillary Clinton is a support for the status quo and contrary to the well-being of the US Dollar as it currently exists as the “Sovereign Currency”, or “International RESERVE Currency”.

    The “central banks”, the world-over, are insolvent and they are resolute, in their refusal to open their books for inspection, as is expected through disclosure of “M3”- an aggregate of banking assets versus liablities.

    There are, presently, 1200 Trillion Dollars owed (google “Quadrillion”) to an international shortfall in central banking, described as “Notional Derivatives”. These “derivatives” are simply, “short sale bets” predicated upon fraud.

    Google: “Lynn Szymoniak”.

    To begin to understand the importance of “derivatives” and why they are a threat to the US Dollar, go watch Michael Lewis’ new movie, “The Big Short”.

    Put simply, after his probe of Monica Lewinsky, while facing impeachment, Slick Willy went on a double date with three republican senators,: “Graham, Leach and Bliley”. The “Act” that bears their name suppressed “Glass-Steagall” and opened the door to: “PHONY SECURITIZATION”; “BOGUS TRUSTS”; “THEFT OF PENSION PLAN FUNDS”; “SUBPRIME LENDING”; “SHORT-SALE BETS: AKA, CREDIT DEFAULT SWAPS, COLLATERALIZED DEBT OBLIGATIONS”; “NOTIONAL DERIVATIVES”; TREASON”.

    The banks destroyed themselves through subprime lending- the emperor has no clothes- the banks have not allowed inspection of their books (“M3”), since 2006.

    Thanks to the Clintons and their 3 republican playmates, in the aftermath of the demise of “Glass-Steagall” and subprime lending, the banks next experimented in “Notional Derivatives”, that are, in turn, predicated upon forgerys and fraud.

    Google: “Securitization Fail”. The pension plans have been robbed, as has the middle class and it is an intentional scam.

    Donald Trump’s rudeness to HillBillary is a scam, no less than “Benghazi”, insofar as it is a direct attempt to provide her further victimhood and thereby influence the simple-minded.

    The Clintons are a very real threat to the national security of the US because they, and their elitist minority PALS are fixing to disrupt property rights, here and abroad; the rule of LAW, here and abroad; and ultimately debase the US Dollar.

    Right NOW, the criminal banking elites and their playmates, the Clintons, are desperate to conceal the fact there isn’t one, single, REMIC TRUST that is legitimate- all the “pools of loans (REMIC TRUSTS)” are defective and the foreclosures are the product of forgerys and FRAUD!!!

    If you are facing foreclosure: find out which “Trust” claims they “own” your debt. Then find out which state, either Delaware or New York, they claim to be registered in. Then contact the secretary of state they claim to be registered in… BIG SECRET: they never applied to do business- they are a legal NON-ENTITY. They can’t sue anybody for anything!

    Get a letter of “Attestation” from the secretary of state that shows they aren’t registered. Do a “Freedom of Information Act” to that secretary of state and then send another to the SEC…

    IT IS PAST TIME THE AMERICAN ELECTORATE RISE UP AND PUT THE CRIMINAL, BANKING FILTH AND THEIR PLAYMATE POLITICIANS IN JAIL!

    PLANT MORE ACORNS, THE AMERICAN PEOPLE ARE GONNA NEED MORE TREES.

Contribute to the discussion!

%d