NEVERMIND – “We Goofed” – Pretender Lender IndyMac Defies Court Order in Yano-Horoski Case!!!
Gregory Horoski and his wife, Diana Yano-Horoski, had their mortgage canceled last month by state Supreme Court Justice Jeffrey Spinner following a dispute with IndyMac. Earlier this month, two weeks after Spinner’s ruling, “Pretender Lender” IndyMac Defies Court Order in Yano-Horoski Case!!! by sending the Horoskis a letter that claimed the couple still owed $474,936.78. Spinner … Read more
“Orderly Transfer” The Banks Words for Strategic Defaults
The Last Word On Strategic Defaults Posted by Karl Denninger http://market-ticker.denninger.net/ I’m tired of the repeated bull-crap from the media and various carny barkers about “moral obligations” to meet your payments on underwater property. Why is it that you have a moral or ethical obligation to BANKS to do this, when THOSE VERY SAME DAMN … Read more
The Private Sector and Government Response to the Mortgage Foreclosure Crisis
Treasury Assistant Secretary for Financial Stability Herbert Allison Written Testimony before the House Financial Services Committee “The Private Sector and Government Response to the Mortgage Foreclosure Crisis” Chairman Frank, Ranking Member Bachus, and members of the House Financial Services Committee, thank you for the opportunity to testify today about the Administration’s comprehensive initiatives to stabilize … Read more
Bankster Lobbyists Launch ‘Call To Action’ To Crush Financial Reform
Bank Lobbyists Launch ‘Call To Action’ To Crush Financial Reform CEO Alert December 15, 2009 TO: Bank CEOs FROM: Art Johnson, ABA Chairman RE: Regulatory Reform – An Update and a Call to Action On December 7, I sent you a “Halftime Report” in which I said ABA thought the House would pass narrowly the … Read more
Ron Paul Reacts to Ben Bernanke as TIME Person of the Year
Ron Paul: “Ben Bernanke is the most powerful man in the world because he controls the supply of money, which is the dollar, which is the reserve currency of the world. He can create a trillion dollar in secret without any monitoring by the Congress. So there’s no transparency and I think he is more … Read more
MBIA Insurance Corp. vs. Credit Suisse Securities (USA) LLC, DLJ Mortgage Capital, Inc. and Select Portfolio Servicing, Inc
See also Credit Suisse Sued Over Mortgage-Backed Securities 4closureFraud http://4closurefraud.org/ Tweet
MBIA Insurance Corporation v. Bank of America Corp., Countrywide Financial Corporation, Countrywide Home Loans, et. al.
MBIA Statement Concerning: MBIA Insurance Corporation v. Bank of America Corp., Countrywide Financial Corporation, Countrywide Home Loans, et. al. MBIA today commenced an action in the Superior Court of California against Countrywide, several of its senior officers and the underwriters of certain residential mortgage backed securities insured by MBIA. The Complaint alleges state securities law … Read more
MBIA Insurance Corp. v. Countrywide Home Loans, Inc., Countrywide Securities Corp., and Countrywide Financial Corp
MBIA Comments on Ruling on Motion to Dismiss – MBIA Insurance Corp. v. Countrywide Home Loans, Inc., Countrywide Securities Corp., and Countrywide Financial Corp. In this opinion issued on July 8, 2009, Justice Bransten allowed MBIA’s fraud claims to proceed against Countrywide Home Loans, Countrywide Financial, and Countrywide Securities, denying the greater part of Countrywide’s … Read more
Re-Confirmation Hearing – Ben Bernanke – Questions from Senator Bunning
Wow… 4closureFraud http://4closurefraud.org/ Tweet
TRANSCRIPT: Obama Presses Banks to Lend, Accept New Regulations
By Rick Newman USNews An imagined conversation: President Obama: Thanks for coming to the White House, everybody. I know how miserable it is to fly commercial, but thanks for doing it and for taking the subway over from the airport. The American people will appreciate that. Lloyd Blankfein, Goldman Sachs: I got gum on my shoe. … Read more
Credit Suisse Sued Over Mortgage-Backed Securities
Dec. 15 (Bloomberg) — A Credit Suisse Group AG unit was accused in a lawsuit by MBIA Insurance Corp. of making fraudulent misrepresentations about mortgage-backed securities, causing the insurer to pay more than $296 million in claims. The complaint against Credit Suisse Securities (USA) LLC, filed yesterday in New York State Supreme Court in Manhattan, … Read more
‘Whack a Bankster’ Game is a Hit!
The game is proving so popular that its inventor has to keep changing worn-out mallets. The BBC reports that inventor Tim Hunkin says the ”Whack A Banker” machine at his pier arcade in Southwold, Suffolk, is proving a great investment. Punters are promised a ”truly rewarding banking experience” and use a mallet to hit as … Read more
“Ghetto Loans” City accuses Wells Fargo of engaging in illegal “Reverse Redlining”
By BEN NUCKOLS (AP) BALTIMORE — A federal judge suggested Monday that he might restrict the scope of a first-of-its kind lawsuit filed by the city of Baltimore against mortgage giant Wells Fargo Bank N.A. The city accuses Wells Fargo of engaging in illegal “reverse redlining” — targeting black neighborhoods for bad loans that resulted … Read more
REALITY TV: Private Sector and Government Response to the Mortgage Foreclosure Crisis
Laurie Goodman, Senior Managing Director, Amherst Securities, and veteran MBS analyst serves up painful facts about mortgage defaults. Click Here To View Archived Webcast Here’s how Goodman narrates: “Most borrowers do not default because of negative equity alone. Generally a borrower experiences a change in financial circumstances, misses a payment on their mortgage and then … Read more
Fair Game – Lawsuit Reveals the Problems Inside Wall Street’s Mortgage Machine
Gretchen Morgenson does it again! Get Ready, Get Set, Point Fingers By GRETCHEN MORGENSON Published: December 12, 2009 DURING the lending mania, as Wall Street’s mortgage machinery hummed and the money poured in, millions of loans were bought and sold, zipping across town or around the world. Now that this giant factory is pretty much … Read more
“Pretender Lender” IndyMac Defies Court Order in Yano-Horoski Case!!!
Indy Mac claims $474,936.78 still is owed two weeks after Justice Jeffrey Spinner ordered the mortgage canceled. Source: Judge orders parties back to court in mortgage case (requires paid subscription to Newsday) Fri 11 Dec 2009 The state Supreme Court justice who last month lashed out at a bank’s dealings with an East Patchogue family … Read more
Banksters Say No Way to Proposed Mortgage Bankruptcy Changes
Financial Reform: Cramdown Fails, CFPA Preserved Dec. 11 (Bloomberg) — Republican lawmakers defeated a mortgage “cram-down” amendment that would have given federal judges the power to lengthen mortgage terms, cut interest rates and reduce loan balances for homeowners in bankruptcy court. The U.S. House of Representatives voted 241-188 today, stripping the amendment from a broader … Read more
EMERGENCY!! PLEASE TAKE ACTION RIGHT NOW… SAVE BANKRUPTCY REFORM!
House Rules Committee agreed to allow the bankruptcy modification amendment THAT WOULD ALLOW JUDGES TO MODIFY MORTGAGES to be considered on the House floor as an amendment to the broader financial services reform bill AS EARLY AS THIS AFTERNOON!! THIS AMENDMENT IS BEING FIERCELY OPPOSED by the BANKS AND FINANCIAL SERVICES communities and we NEED … Read more
Toxic Titles – “Pretender Lenders” Walking Away from Foreclosures
Governor Elizabeth A. Duke At the Community Stabilization Symposium, NeighborWorks Training Institute, National Harbor, Maryland December 9, 2009 Keys to Successful Neighborhood Stabilization “Communities with weak underlying economies are characterized by a long trend of population loss, gradual impoverishment, and strained municipal resources. For cities like Cleveland, Detroit, and Indianapolis the increase in foreclosures over … Read more
