Banks have failed to produce any evidence that isn’t false and fabricated

If it were true that the claimants and plaintiffs in foreclosures were real, you would have reams of pleading, exhibits, and evidence showing that — and there would be very few defenses left for homeowners.

in 14 years of challenges from me — in and out of court — the banks have failed to produce any evidence that isn’t false and fabricated and they have lost their foreclosure cases most of the time because of that —  but only if they were challenged.

The banks have known that reformation is their only way out. They have known for many years. And quietly, because nobody understood what they were doing, they have been doing exactly that through the uninformed consent of homeowners who enter into “modification” agreements. 

Both law and common sense dictate that claims of any type against homeowners must only be brought by people who have suffered some injury resulting from something the homeowner did or did not do. Once you strip the presumptions arising from the facially valid transaction documents the foreclosure mill has nothing but an arcane legal argument to get their way. And it is only by wearing down the homeowners and intimidating the lawyers that would defend them, that the banks have, thus far, been successful. 

Bob Hurt and others have been paid agents of PR firms for the banks for over 10 years. They are ramping up criticism since I ramped up the attack with Appellate briefs, my announcement of petitioning the state Supreme courts for rule changes, the blog, and the radio show.

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Like all fake news proponents, they start with a lie (e.g., there are no cases that support Garfield’s view) or perhaps something with a grain of truth and then state a conclusion that is dead wrong (e.g., foreclosure mills don’t need to show proof of payment of value even when challenged). Banks won’t show their face in this fight because they don’t want to give us more PR oxygen than is absolutely necessary from their perspective. But they are there. And as the old phrase goes, when you’re getting a lot of flack —  that’s when you know you are over the target.

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The fact remains that in 14 years not one person anywhere has ever said (on TV, Radio, blog, legal article, or live appearance) or produced exhibits showing that the REMIC trusts or trustees have ever been entrusted with any money or assets. In fact, as I demonstrated over the years the seminars for foreclosure mills and bank lawyers have always agreed with me and told the banks and the foreclosure mills that they proceed at their own peril.
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That is the bottom line. If it were true that the claimants and plaintiffs in foreclosures were real, you would have reams of pleading, exhibits, and evidence showing that — and there would be very few defenses left for homeowners. As it stands my record is over 80% success in defending over 5,000 homeowners directly and indirectly and over 50,000 indirectly because they read my blog.
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And the banks just took another hit in Florida where the Supreme Court reversed Florida law that said homeowners who prove lack of standing or who successfully defend by revealing that the foreclosure mill has no proof of standing (ownership of the debt, note or mortgage) can get recovery of attorney fees. This opens the door to more access to lawyer, which means more access to courts, and more victories for homeowners.
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The fact remains that in 14 years of challenges from me — in and out of court — the banks have failed to produce any evidence that isn’t false and fabricated and they have lost their foreclosure cases most of the time because of that —  but only if they were challenged. The only hope they have for maintaining the “securitization” infrastructure is by legally reforming the transaction with homeowners.
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They must get a court order or an agreement from homeowners that waives compensation for concealed risks (inflated appraisals, nonviable loans etc.) and waives compensation for launching the concealed securities scheme.
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While “securitization” does not mean securitizing the debt, note, or mortgage, it does mean that securities were sold that use the existence of facially valid loan documents as a reference point for the securities which are simply bets on the reports by investment banks about “performance.” In that scenario, it doesn’t matter what the homeowner does or does not do. It only matters that the investment bank issues a report on what the homeowner did or did not do as part of a group of other homeowners. There is never a report of how anyone took a loss or posted a gain resulting from any homeowner making or not making any scheduled payments.
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The banks have known that reformation is their only way out. They have known for many years. And quietly, because nobody understood what they were doing, they have been doing exactly that through the uninformed consent of homeowners who enter into “modification” agreements. In those agreements, which appear to be facially (if not substantively) valid, the homeowner (a) waives all possible claims and defenses and (b) agrees to accept the servicer as the new creditor. That is the reformation of the “loan” agreement which now exists thanks to the “modification.”
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It all comes down to one simple proposition. Both law and common sense that claims of any type against homeowners must only be brought by people who have suffered some injury resulting from something the homeowner did or did not do. Once you strip the presumptions arising from the facially valid transaction documents the foreclosure mill has nothing but an arcane legal argument to get their way. And it is only by wearing down the homeowners and intimidating the lawyers that would defend them, that the banks have, thus far, been successful.

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PRACTICE NOTE: Lawyers who entering the field of foreclosure defense will be rewarded for their efforts and they will win their cases if they litigate properly. They should be aware and remain aware that despite all appearances to the contrary, the only interested parties in the outcome of foreclosure litigation is the concealed investment bank and the homeowner. And none of the foreclosure players are participating for any reason other than fees. there is no effort for restitution for an unpaid debt because there is no unpaid debt account on the ledgers of any company anywhere.
As I have repeatedly shown in and out of court, proceeding on that premise yields exciting and at first, unexpected, results. Try it, you’ll like it. Tastes like chicken. 
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Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.

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Neil F Garfield, MBA, JD, 73, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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10 Responses

  1. Everyone — one word CONCEALMENT. What you see is not always what you got.

  2. Javagold, as I explained when we spoke, education is free from us, but when you want documents analyzed, we charge for that. And since we don’t due things half-assed, analyzing a few documents vs. the minimum of a thousand documents that’s needed to be analyzed in the typical mortgage transaction in the midst of foreclosure is a waste of time, money, and totally irresponsible.

    It’s analogous to going to an oncologist for a suspicion of cancer, and asking that he just take your temperature, but then want to know what his diagnosis is and if your suspicions are correct. We’d be remiss, just like the oncologist without performing a complete examination.

  3. Reformation is not an option since the original contract for for financial SERVICES with secretive Wall Street Bank, not for purchase of the debt. It was a VOID contract and nobody has authority to reform it.

    Servicers are merely “talking puppets” without any servicing duties.

    The only party who CAN participate in reformation are Wall Street Banks and Black Knight – but they cannot reform a non-existing account. Plus they need to step out from bushes and reveal the true nature of the Contract – involuntary servitude by homeowners, for negative compensation. None of Wall Street banks want to do it.

    Breach of contract is also not an option since the Lender was fake, this the contract is void per se. You cannot claim a breach of contract with someone who was not an actual part of this Contract

    You can only claim fraud and conspiracy to defraud.

    Fraud makes every contract void ; as well as every Court decision based on such contract

  4. Everything Neil says is absolutely TRUE. It supported by millions cases

    I myself researched hundreds of cases – NO single foreclosure has ANY legit document to prove any ownership of the debt, all forged and robosigned.

    Here are no evidence that ANY investors is an actual part of any foreclosure, most plaintiffs are either non-existing or defunct Trusts

    Moreover, EVERY case with an affidavit from purported “Servicer” mentioned that ALL their information is coming from MSP (sometimes deceptively called “shared website, see Bayview v. Kay); and that payments processing is done via lockbox. Which eliminates need of servicers per se, merely making them “talking heads” without servicing functions.

    Big Banks succeed because their fraud is covered by the Government

    Because this MYTH about securitization of mortgages is operated by Federal Reserve who owns everything in America.

    ALL data called “securities” is issued via Federal Reserve DTC who sell investors IMAGES (a hologram of an empty paper bag)- see below.

    Here are some citations from Ginnie Mae offering circular, Dec 2019, ALL based on forward looking statements.

    “Mortgage-Backed Securities, which WILL be sold
    from time to time in one or more series, represent interests in separate Ginnie Mae SMBS Trusts established from time to time”.

    Each Trust WILL be comprised primarily
    of (i) “fully modified pass-through” mortgage-backed certificates

    Each SMBS Security will be issued and maintained in book-entry form through the book-entry system of the U.S.
    Federal Reserve Banks (the “Fedwire Book-Entry System”). Each SMBS Security initially will be registered in the
    name of the Federal Reserve Bank of New York (together with any successor or other depository selected by Ginnie
    Mae, the “Book-Entry Depository”).
    The Fedwire Book-Entry System is an electronic facility operated by the U.S. Federal Reserve Banks for
    maintaining securities accounts and for effecting transfers. The Fedwire Book-Entry system is a real-time, deliveryversus-payment, gross settlement system that allows for the simultaneous transfer of securities against payment.
    The Fedwire Book-Entry System is used to clear, settle and pay not only Ginnie Mae Securities, but also all U.S.
    Treasury marketable debt instruments, the majority of book-entry securities issued by other government agencies
    and government sponsored enterprises and the mortgage-backed securities issued by the Federal National Mortgage
    Association and the Federal Home Loan Mortgage Corporation.
    Beneficial ownership of an SMBS Security will be subject to the rules and procedures governing the Book-Entry
    Depository and its participants as in effect from time to time. The Book-Entry Depository will maintain evidence of
    the interests of its participants in any SMBS Security by appropriate entries in the Book-Entry Depository’s books
    and records. Only participants of the Fedwire Book-Entry System are eligible to maintain book-entry accounts
    directly with the Book-Entry Depository. A Beneficial Owner that is not a participant of the Fedwire Book-Entry
    System generally will evidence its interest in an SMBS Security by appropriate entries in the books and records of
    one or more financial intermediaries. A Beneficial Owner of an SMBS Security must rely upon these procedures to
    evidence its beneficial ownership, and may transfer its beneficial ownership only if it complies with the procedures
    of the appropriate financial intermediaries. Correspondingly, a Beneficial Owner of an SMBS Security must depend
    upon its financial intermediaries (including the Book-Entry Depository, as Holder) to enforce its rights with respect
    to an SMBS Security. SMBS Securities will not be issued in certificated form.

    The Trust Assets for a Series of Securities may include Ginnie Mae Certificates conveyed by the related Sponsor to
    a Trust pursuant to the terms and conditions of the SMBS Trust Agreement.
    The Sponsor will represent and warrant in the SMBS Trust Agreement

    https://www.ginniemae.gov/investors/multiclass_resources/Documents/smbs_base_oc_20191223.pdf

  5. Neil:
    Here is a word you might use for your clients:
    REVENDICATION: It means To reclaim or restore what is the claimants.
    See Blacks’ Law Dictionary 4th edition and 6th edition.
    David
    enjoy

  6. Legisman.
    I understand. Time consuming. But it seems there was really no reason to have sent many documents to you in the first place, since other than COVID , all seemed to be long known coming events.
    Nonetheless, thanks for your time & I enjoyed talking to you. I do/did listen to what you say.. I will win this fight on my own as I always intended.. Congratulations and feel better soon.

    As for Neil post Above.. Oh boy. No comment.

    Javagold

  7. Javagold, no excuses, except I got Covid, my daughter delivered a baby girl, sold the property we brought our five children up in for the last twenty five years; very busy analyzing student loans, mortgage loans, and the criminal work our litigation support co. provides, and obviously have to take care of our paying customers first; but most importantly, we can’t tell what may have happened in your mortgage transaction without analyzing the WHOLE transaction, not just part of it.

  8. Legisman.
    I allegedly breached. But have a defense that the bank/lender/Servicer definitely breached first. I showed you the facts (and more) and yet never heard back from you. You say attack the contract. As you heard I’m doing just that. The FJ objection to the figure was SUSTAINED. Meaning the plaintiff admits the escrow balance should have zeroed out BEFORE the permanent modification effective date. Of course I now have to appeal & work this Fraudclosure backwards to unwind but my argument from the beginning has always remained the same. I just didn’t know how they breached the contract until I received the cost breakdown. And was able to put the timeline together and finally figured it out myself. As well as prove it to the court.

    So, If my case doesn’t fit your narrative. I don’t know what does. I was looking forward to your expert opinion, whether negative or positive. However, Your silence since has been disappointing and makes me wonder why. If it’s time & money. Fine..

  9. Oh boy. No Comment.

  10. Garfield is either incompetent or is deliberately trying to mislead homeowners in an effort to sell his audits and consulting services. He claims to have won hundreds of cases. The facts are he has NEVER won a foreclosure case; stalling isn’t winning; nor have any of the clueless dupes that paid for his seminars. However, many have been disbarred and sanctioned for making his ridiculous arguments.

    He defames people and makes libelous comments against those prove him wrong. He claims they’re being paid for by PR firms of banks. Why would a bank need to hire anyone when they win 99% of all foreclosure cases? Just more lies for the feckless homeowners, who if they actually took time to think it out and applied logic, would understand it’s all B.S.

    Once again, all the bank has to prove is that the homeowner breached–PERIOD; and if the borrower doesn’t have defense for the that breach, their home will be gone. NOBODY has ever won a foreclosure case arguing standing, produce the note, securitization, split the note, didn’t get into the trust in time, REMIC, robo-signing, etc., etc. I’ve posted dozens of cases proving that fact.

    Furthermore, myself and others have asked repeatedly for all of these so-called wins, and he has failed and refused to produce any, because they don’t exist. Notwithstanding the fact, we could produce dozens where hundreds who applied his nonsense who lost their homes.

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