Fla Ct Finds JP Morgan Intentionally and Knowingly Committed Fraud on The Court

SERVICES YOU NEED

As basis for the legal case, WaMu had submitted an assignment of mortgage, which however the court just found never actually belonged to WaMu, and instead was carried on the books of Fannie Mae.”

EDITOR’S NOTE: It’s an old story to us but it’s news to everyone else. Yes it IS fraud, and all you have to do is look, inquire and aggressively press the opposition.

Just like Wells Fargo in Massachusetts, GMAC now in 23 states so far, the story is always the same — the lawyer doesn’t know who he/she represents and doesn’t care, the documents submitted are fabricated and forged and the representation that the would-be forecloser is a creditor is a plan and simple lie — only revealed AFTER they are pressed to support their claim of standing, real party in interest, holder of the note etc.

ALL the foreclosures and notices of sale, motions to lift stay, motions for summary judgment start the same way. Some party picked at random from the securitization chain comes in and starts a foreclosure sale (non-judicial) or a foreclosure lawsuit after documents are fabricated showing a chain of title that never happened and doesn’t exist.

MOST of the time borrowers and the Courts are intimidated by the presence of a “Bank” (which is neither acting as a bank nor was it the lender, creditor, or payee at any point in the process of the closing of the transaction between the homeowner as borrower and the investor as lender).

SOME of the time, borrowers are successful in their challenges to the foreclosure. The reason is not that the rest of the foreclosures are proper, right, legal or equitable. The reason is that in those cases where the borrower is successful they managed to get the Judge to pause long enough to actually look at the documents being presented and to allow the borrower to inquire as to their authenticity and authority. If there is such an inquiry the borrower wins. If there is no such inquiry, the borrower loses.

ALL of the proceedings in which foreclosures were initiated in both non-judicial and judicial states are fatally defective and has resulted in a pile of debris called “title” when in fact no title has been transferred, no credit bid was ever submitted and no deed was issued with authority from a party who possessed the right to convey title.

Each day an angry judge realizes he/she has been duped for years by these antics of people he knew and trusted. Criminal acts, contemptuous of the law and the Courts have been committed in millions of foreclosures.

None of the agencies that are charged with responsibility to regulate the activities of these banks, institutions or companies has lifted a finger to impose existing rules and regulations that were designed to prevent this behavior and punish it when it occurs. None of the Courts want to apply clear Federal law on the subject in the Truth in Lending Act and the Real Estate Settlement and Procedures Act. Because when it comes right down to it, the facts unfolding in the lead news stories and in the court orders being entered are downright unthinkable.

We have now come to that fork in the road where we must stop anyone who asks”why would they lie?” and simply admit that it has ALL been a BIG LIE and we have been living this lie for 10 years, hence the name of this blog.

So there is no mistake about it I am stating the opinion that NONE of the foreclosure sales on residential property in which the loan was originated as part of a securitization scheme are valid. They are void. If you think you lost your home you’re wrong no matter what anyone tells you. Any lawyer who studies this instead of responding from a knee-jerk “I remember that issue from law school” will come to the same conclusion — the title chain is not just clouded, it is fatally defective. That means the foreclosures were void according to existing law. It is the same effect as if I signed a warranty deed conveying title to YOUR home now. Such a document might LOOK good, but it is fraudulent, because I don’t have the title to convey much less warrant that it is good title. But if Judge won’t let you speak or won’t even consider the possibility that I would flat out lie and file a totally fraudulent deed, I’ll win and you’ll lose. That’s what is happening.

JPMorgan Brings Foreclosure Case In Mortgage In Which It Was Just A Servicer, Court Finds Bank Committed Fraud

Tyler Durden's picture

Submitted by Tyler Durden on 09/16/2010 16:37 -0500

An interesting development out of Jean Johnson, Circuit Judge in Duval Country, Florida, where in a case filed by JPMorgan/WaMu, as Plaintiff, and law firm of Shapiro and Fishman, attempted to evict defendants Hank and Marilyn Pocopanni. As basis for the legal case, WaMu had submitted an assignment of mortgage, which however the court just found never actually belonged to WaMu, and instead was carried on the books of Fannie Mae.

Once this was uncovered is where this case gets really interesting: In point 5 of the filing we read that the “plaintiff predecessor counsel made “clerical errors” when it represented to the Court that the plaintiff was the owner and holder of the note and mortgage rather than the servicer for the owner.”  Which means that only Fannie had the right to foreclose upon the Pocopannis, yet JPM, as servicer, decided to take that liberty itself.

And here the Judge got really angry: “The court finds WAMU, with the assistance of its previous counsel, Shapiro and Fishman, submitted the assignment when [they] knew that only Fannie Mae was entitled to foreclose on the Mortgage, and that WAMU never owned or held the note and Mortgage.” And, oops, “the Court finds by clear and convincing evidence that WAMU, Chase and Shapiro & Fishman committed fraud on this Court” and that these “acts committed by WAMU, Chase and Shapiro amount to a “knowing deception intended to prevent the defendants from discovery essential to defending the claim” and are therefore fraud.

While the Judge in this case did not also find declaratory damages against the plaintiff, and while the case of the defendants is unclear (we would expect Fannie to file a foreclosure act on its own soon enough), the question of just how pervasive this form of “fraud” in the judicial system is certainly relevant. Because if JPM takes the liberty of foreclosing on mortgages as merely servicer, when it has no legal ground for such an action, who knows how many such cases the legal system is currently clogged up with. The implications for the REO and foreclosures track for banks could be dire as a result of this ruling, as this could severely impact the ongoing attempt by banks to hide as much excess inventory in their books in the quietest way possible.

Our advice to any party caught in a foreclosure process is to immediately go to http://www.fnma.com and use the Lookup Tool to see if Fannie is still mortgage owner of record, if a foreclosure suit has been brought up by a plaintiff other than the GSE. (Editor’s Note: He’s not exactly right here. All you will know is that FNMA claims on its site that it is the owner. The “owner of record” is the party who shows up in the title search of the only place that counts — the county recording office — which is why we tell everyone to get that from us or another party. 99 times out of 100 the “owner of record” is the originating lender who is often out of business — and THAT is why I insist on repeating that these loans are not and never were secured and that no security instrument has ever or could be filed for perfecting a lien on the home.)

We are confident quite a few other such cases will promptly appear.

Barney Frank, Alan Grayson, Corinne Brown Come Through With Sharply Worded Letter To FNMA

SERVICES YOU NEED

9.24.10 BARNEY FRANK LETTER-Letter-to-Fannie-on-Foreclosure-Fraud[1]

VIDEO FEED FROM TAMPA TV

In a blunt, no nonsense letter to Fannie Mae three congressional representatives including Barney Frank who has enormous clout, a shot heard round the country was heard. It wasn’t just a letter of inquiry or even at the level of complaint. It was an accusation and a demand that FNMA comply with law and stop employing foreclosure mills who violate the law in the name of the former government sponsored entity which is now wholly owned by the U.S. Government. We can expect similar action from congress and other agencies as the fog starts to lift and public officials come to realize what the rest of us have known for three years — the whole foreclosure mess is a fraud, should never have begun and the resulting horrific consequences on people’s lives could have and should have been avoided.

Holiday Gift: Staying in Your Home — Priceless: Those Debts You Think you Have? — WORTHLESS

For all the hoopla about moratoriums on foreclosures and other debt collection, the reality is that the only reason they are doing it is to figure out a way out of a mess founded in one inescapable FACT: the mortgage, the note, the credit card, the student loan, the furniture loan and all other consumer loans are worthless. They are not enforceable. This is of course my opinion, but all indicators point in the same direction in the same way.

Whether you are paying on a “debt” or not, whether you have been foreclosed or not, the “creditor” (the one you have been dealing with and who is now trying to enforce the alleged obligation) has NO rights to collect, and in fact has been paid, in some cases several times over.

The reason you are getting offers of “modification” is that they all need new signatures on a new document that is executed in the proper way by real people and recorded in accordance with the laws of your state. They need that because the old paper was turned into toxic waste through their sales process to investors, and because in truth — they never lent you the money and virtually all the people in the securitization chain have been paid in part or in whole on YOUR loan.

They got paid from you, they got paid from insurers, they got paid from the mortgage wholesaler (aggregator), they got paid on your loan from other borrowers, they got paid from inestment banking bailouts, they got paid from the U.S. Treasury, they got paid from the Federal Reserve and they got paid from unwary investors, who have also in paid in part or in whole.

There is no debt in a legal sense anymore — but they don’t want you to know that. They want the world to think that if you escape without paying you are getting a windfall — but they don’t want the world to know they got paid and now they want your house anyway. Whose windfall is that?

Out of the thousands of cases we have tracked here, where the homeowner put up a real fight insisting on real proof, not one has gone to trial. Either the “lender” caved and let the homeowner or “debtor” walk or they settled with deep discounts on principal due, huge reductions in interest rates on thirty year fixed rate mortgages. Do your own research. Every word here is true. You don’t owe the money.

That doesn’t mean they won’t take your house. If they can get the money and your house too, they are going to do it. The only thing that can stop them is you. Use this site and others like it to inform yourself. Information is king. When they know that you know what you are talking about, teh nightmare will be over — no more foreclosure, credit cards, student loans etc. You are in a much better position that you ever thought — you have the property and the earning power. They have nothing unless you give them power over you by signing documents that put you at the same risk you are in now.

Change it. Demand reductions of 60% or more in principal — or go to the mat and fight them off completely. Don’t agree to pay one penny more than you can easily pay. 3% is fine. Second mortgages and HELOCs are being settled for 2-3 cents on the dollar. They have no choice.

So accept the FNMA and Freddie Mac moratorium but realize that come January 9, they will be back and you need to be ready for them. Hold your head high. You are not the bad guy. They probably sold your “loan” for an amount that would astound you, and they received insurance premiums and payouts that would amaze you and they received bailouts from the government that have dismayed all of us.

%d bloggers like this: