Pure Intellectual Masturbation is Fabulous

Fabulous Fab Tourre: The CDO’s I Create Are “Pure Intellectual Masturbation” Editor’s Note:by Neil Garfield “a ‘thing’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price.” Think about it. The foundation of the supply of money that was pressure pumped into our economic housing system resulted … Read more

MERS Partners with Xerox Accelerate eMortgage Adoption; Help Lenders Prime for Growth

CHICAGO, Apr 26, 2010 (BUSINESS WIRE) — Xerox Corporation /quotes/comstock/13*!xrx/quotes/nls/xrx (XRX 11.39, +0.07, +0.62%) is making the mortgage industry’s transition to paperless easier than ever with new on demand services that help industry participants overcome the hurdles of eMortgage adoption by requiring little set up and upfront investment. Xerox Mortgage Services’ eVault is a virtual … Read more

Trashed Out – Deutsche Bank Acts Like Paid Off Home is a Foreclosure – Broke Down Doors, Changed Locks, Stole Belongings along with the Home Owners Sense of Security

Only in America… WoodTV.com “All kinds of things were taken — from a dining room set to the American flag mounted outside the home.” Bank acts like home is a foreclosure Rick and Sherry Rought (April 25, 2010) Gowen couple files lawsuit against Deutsche Bank By Megan Stembol GRAND RAPIDS, Mich. (WOOD) – A Gowen … Read more

NY Post – Florida Judge Reverses own Summary Judgement after GMAC Lawyer Could Only Manage a Ralph Kramden-like hamina-hamina-hamina

This story in the NY-POST is in regards to OVERRULED!!! Florida Judge Reverses His own Summary Judgment Order! Full transcript below… GMAC Mortgage got slammed by a Florida judge this month — and that may be good news for some of the 1,234 New York homeowners hit with a foreclosure action by GMAC since the beginning … Read more

Can it Be? Fraud at the Credit Rating Agencies

Fraud at the Credit Rating Agencies By: David Dayen If we had a media that highlighted events in proportion to their importance to the nation, Carl Levin’s Permanent Subcommittee on Investigations would be plastered across every channel in the nation, including MTV. He has done some spectacular work on the financial crisis in a series … Read more

Court Ordered Discovery – I Found the Fraud by WAMU’s Underwriter – Provable, Tangible and Undeniable

By Rob Harrington Email to Senate Sub-Committee re: WAMU’s Fraudulent (criminal) business practices I am sending out copies of this email to others to enlighten them as to the Senate Sub-Committee hearing with Kerry Killinger and Steve Rotella, both formerly of Washington Mutual Bank (WAMU.) I have proof that WAMU INTENTIONALLY changed my debt to … Read more

MERS Loan Registry Raises Legal Questions

The Salt Lake Tribune  A small real estate data-management company is the focus of a widening legal controversy that could affect millions of U.S. foreclosures, including thousands filed against distressed homeowners in Utah. The nation’s largest lenders created Mortgage Electronic Registration Systems (MERS), of Reston, Va., in 1994 as a loan registry designed to save … Read more

What We Did Was Criminal – Confessions Of A Former Loan Officer

Bring Criminal Charges Against Chief Executives of Leading Originators And Securitizers of Stated-Income Mortgages by Michael David White   You can steal and burn money many different ways. Leaders of financial firms use a conservative bias with money they lend to protect society’s most precious asset: Savings accumulated through blood, sweat, tears — sacrifice. Unless you live … Read more