Ally $52 Million settlement for “Deficient Securitization”

All of these adjectives describing securitization add up to one thing: the claims were false. For the most part none of the securitizations ever happened.

And that means that the REMIC trusts never purchased the debt, note or mortgage.

And THAT means the “servicer” claiming the right to administer a loan on behalf of the trust is false.

And THAT arguably means the business records of the servicer are not business records of the creditor.

And THAT my friends means what I have been saying for 10 years: virtually none of the foreclosures were legal, moral or justified. The real transaction was never revealed and never documented. The “closing” documents were fake, void and fraudulent. And THAT is grounds for cancellation of the note and mortgage.

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It is hard to imagine any scenario under which Government cannot know what I have been saying for years — that the claims of securitization are false and the documents for the loans were fraudulent. Government has decided to ignore the facts thus transforming a nation of laws into a nation of men.

In plain English the decision was made to let the chips fall on borrowers, who were victims of the double blind fraud, despite clear and irrefutable evidence that the banks malevolent behavior caused the 2008 meltdown. The choice was made: based upon information from the birthplace of securitization fraud, Government decided that it was better to artificially prop up the securities markets and TBTF banks than to preserve the purchasing power and household wealth of the ordinary man and woman. The economy — driven by consumer spending (70% of GDP) — had the rug pulled out from under it. And THAT is why the effects of rescission are still with us 8 years after the great meltdown.

The fact that there are 7,000 community banks, credit unions and savings banks using the exact same electronic payments platform as the TBTF banks was washed aside by the enormous influence exerted by a dozen banks who controlled Washington, DC, the state legislatures, and the executive branch in most of the states.

The American voter came to understand that they had been screwed by their representatives in Government. They voted for Sanders, they voted for Trump and they voted for anyone who was for busting up government. But they still face daunting challenges as they continue to crash into a rigged system that favors a handful of merciless bankers who have bought their way into the Federal and State Capitals.

Chipping away at the monolithic Government Financial complex individual homeowners are winning case after case in court without notice by the media. It isn’t noticed because in most instances the cases are settled, even after judgment, with a seal of confidentiality. Most people don’t fight it at all. They sweep up and leave the keys on the counter believing they have committed some wrong and now they must pay the price. THAT is because they have not received the necessary information to realize that they can and should fight back.

11 Responses

  1. Need help, I am putting together some case documentation against Wells Fargo and US Bank as Trustee. Can someone tell me how I can find all of the illegal DOT’s that are in public records. Looking specifically for Securitized Trust DOT’s. You can reach me at 443-677-2799 or

  2. Dear Tonycat,
    You may want to contact attorney Jim Surane at:, phone 704-895-5885.

  3. I know you exactly what everyone means. I’ve been in this now for almost 10 years. The lies and fraud and misdirection and bad servicing……it never stops. They make up the rules as they go along. Last year in default I was able to get a loan paid back in 30 years 0% interest to cure arrears for just under $30,000. Based on a reinstatement figure provided by Rushmore Loan Mgmt Svs. my servicer, I got the loan got current and not 2 weeks later I receive a letter in the mail from Rushmore stating my escrow is short by $2000 and to make up for that they are increasing my mortgage by $150/Mo. I was furious and after confronting them about the miss quote, they say they don’t do escrow analysis’s on delinquent accts. So as soon as I was current they did one. In mediation they Shud hv addressed all issues to completely inform me of everything yet they didn’t and to top it off, I could have gotten a bit more in my loan had I known. I also haven’t had access to my online mortgage acct or paper copy since January since they don’t allow delinquent accts access. This is rule 1 of RESPA I think that they can’t do yet nobody cares. I don’t want them to win but I’m exhausted by this and don’t know how I can do it on My own. It’s all so confusing and then what’s to say I’ll get my fair shake in court. I hv a sale date again of 2/3/17 and it’s coming fast. This house was my retirement and rent here in WA is way out of reach. I’m not sure how to move forward.

  4. Ronda Scott — Good for you, and very good advice. The government or the “justice” system will not step in. You are correct. It is the frontline troops that must pave the way and take up the cause. May we find victory and camaraderie in our quest for REAL justice.

  5. TonyCat — I have the same problem in New York. Most lawyers don’t know foreclosure law, and do not have the courage or will to even attempt defending beleaguered homeowners. Every lawyer I spoke to told me to give it up. That was more than three years ago, and I am still fighting.

    I could not afford a lawyer, not to mention their unenthusiastic responses, so I had to learn everything on my own. There are many sites like Living Lies that give very good information. I cannot tell you how helpful Living Lies was to me. There are also a lot of YouTube videos that are helpful. Just be careful, many will not apply or work.

    It is a lot of work. I read case laws, statutes, studied banking laws, etc., which can be difficult to understand at times. This was purposely done to make it difficult for the average person — they do not want the people poking into what they consider their business.

    The biggest obstacle is, however, overcoming the corruption and ignorance of local judges. You can have an airtight case, but they still rule against you coinciding their opinions to the opinions you found with the lawyers — you took out a loan, so you must owe someone.

    It is immaterial to the courts if you are not paying the correct party or that the bank already collected insurance upon your default and are now seeking unjust rewards by taking you home.

    My advice is to fight them as best you can. You could delay them in a foreclosure by even putting up the slightest resistance. They do not expect it. They know most people walk away and that is their greatest advantage. There are some knowledgeable judges who will hold the banks to the law. They are few and far between, but you may just find one who is adjudicating your case. Don’t give up hope. The banks have committed many crimes and errors in their procedures. They have a lot of cracks in their armor.

  6. I’m fighting back but feel like a blind man who is shouting and others stare in disbelief I see the lies. I see the lies. A local judge listened and denied foreclosure. It’s up to the soldiers on the front line to lead the charge and take down the banks. Be fearless and fight. Fix bayonets!!’

  7. We cannot find a lawyer in our state (North Carolina) who believes any of what you are saying. Nor will any of them fight for us homeowners. The belief is that we should pay every dime of what we “agreed to” in the original contract, no matter how deceived we were, no matter that the contract may have been fraudulent, no matter that the legal system in our state KNOWS (by our state’s Attorney General and the other states having made a settlement with the banks and lenders) that the “loans” were fraudulent. They all want the homeowners financially ruined – by having to either be foreclosed on or take Bankruptcy (in which all the extra bogus charges imposed by the servicer will have to be paid AND the original home loan too). Most of us homeowners cannot see the justice in that. We figure some folks at the top of the food chain and legal system too MUST be getting some big payoffs.

  8. The government seems to be picking up a lot of fine money at the expense of the people. The government makes these institutions pay the fines which lets them (institutions) off the hook for the serious crimes. The government then pockets the money, but still offer no relief for those who have had their homes stolen or about to be stolen.

    We couldn’t rely on the Obama regime for help and we will certainly get no help from our new Elite billionaire president. The elite, despite their phony protestations, got what they wanted again — one of their own as president.

    The Trump supporters were fooled once again much the same as the Obama supporters were duped.

  9. I read the article and the settlement document. My question is, how do you glean from the settlement document that the closing documents were fraudulent?

    I am currently fighting with Deutsche bank and one of the defenses was that the original note was defective in that NO money was loaned (no consideration by the bank) and they were not a party to the note because no representative from the bank ever signed the note which is negotiable making it a contract. Contracts must be signed by both parties.

    This is not our primary defense which is still based on the note and violations of the UCC in the attempted assigning of the note through MERS.

  10. So what recourse do we have after they have stole our property and got judgment and forced us into bankruptcy to avoid deficiency judgment. Thieves and lisrs have to pay!!

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