The Market Ticker – To The Media: Stop LYING About Foreclosuregate

To The Media: Stop LYING About Foreclosuregate

I’m getting tired of this, so I’m going to trot out the proof and stick it under everyone’s nose.

We keep hearing that these “lost document” affidavits and similar are just “sloppiness.”

They are not.  They are hard evidence of fraud, with the only decision left to be made being one on exactly where the fraud happened.

I’m going to show you a document – a Pooling and Servicing Agreement – from one MBS Trust.  There are literally thousands just like this.  I’ve read dozens.  Those that were sold to the public are all filed on the SEC’s web page, and can be found either on EDGAR or SECINFO.  Every single one that I’ve read contains a certification that is, in form and substance, identical to that below.

This specific example is one that others have picked on and happens to be right from the top of the bubble around 2006 – and it also happens to be from our favorite Vampire Squid, Goldman Sachs.

It is GSAMP Trust 2006-FM1

Here is the CERTIFICATION form that the Trustee, post-closing, covenants and represents he will execute for the benefit of the buyers of these MBS (that is, your pension fund, your insurance company that is funding your annuity, your retirement account’s bond fund, etc):

Re:  Trust Agreement, dated as of April 1, 2006, between GS Mortgage Securities Corp. and Deutsche Bank National Trust Company

Ladies and Gentlemen:

In accordance with Section 2.02 of the above-captioned Trust Agreement (the Trust Agreement), the undersigned, as Trustee, hereby certifies that as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or listed on the attached Document Exception Report) it has received:

(A) The original Mortgage Note, endorsed in the form provided in Section 2.01 of the Trust Agreement, with all intervening endorsements showing a complete chain of endorsement from the originator to the last endorsee.

(B) The original recorded Mortgage or a certified copy thereof.

(C) Except with respect to each MERS Designated Mortgage Loan, an executed Assignment of Mortgage endorsed in blank in the form provided in Section 2.01 of the Trust Agreement; or, if the Trustee has actual knowledge that the related Mortgage has not been returned from the applicable recording office, a copy of the Assignment of Mortgage (excluding information to be provided by the recording office).

(D) Except with respect to each MERS Designated Mortgage Loan, the original or duplicate original recorded assignment or assignments of the Mortgage endorsed in blank showing a complete chain of assignment from the originator to the last endorsee.

(E) The original or duplicate original or certified copy lender’s title policy and all riders thereto or, any one of an original title binder, an original preliminary title report or an original title commitment, or a copy thereof certified by the title company.

Now why are we filing “lost note” affidavits?

There are no “lost notes” ladies and gentlemen.

Either:

  • The Trustee never got the notes, in which case he filed this certification and in doing so committed fraud upon the MBS investors,  

    OR

  • The Trustee has the notes and doesn’t want to produce them because there is something in there that could lead to the foreclosure being dismissed (E.g. TILA violations) or the Trustee being sued (e.g. he took the note even though it violated their representations and warranties relating to loan quality), in which case the fraud is upon the court in the instant case.

Pick one, but either way someone has been defrauded.

It is literally impossible for it to be otherwise.

When will the damn media and prosecutors start STOMPING on this crap?

View with responses

~

4closureFraud.org

Comments
13 Responses to “The Market Ticker – To The Media: Stop LYING About Foreclosuregate”
  1. DLC 55 and holding says:

    Wait and see the bullcrap that will come out of the AG’s investigation, AG miller is trying to explain why he’s received so many contributions since the anouncement that he would head the investigation. Who in their right mind goes into an investigation with the criminals and calls it an ice breaker. Ice Breaker my ass, should have gone in there with arrest warrants.

    A great Lawyer once said that the federal governments conspiracy laws were written so well that a first year prosecutor could get an indictment on a ham sandwich. But not one indictment has been handed down against the Banksters for criminal acts.

    Go figure……………..

    DL, 55 and holding…………………………………

  2. LadyH says:

    Just watching this unfold from the UK. Horrific. I have copies of the deeds of my house going back to 1843 when it was built, seems like no-one in the US is going to know how held their deeds last week.

    This has to be Facebooked/Twittered/Commented all to hell and I hop you are all writing to your Congressmen. The only thing they like more than money is votes.

    Are there third party candidates you can vote for in Nov? time to send a message.

  3. housemanrob says:

    Pretty clear to me…………….and all of those media lions who graduated from Harvard and whatnot…….are a lot smarter than me I guess. I just got a little diploma from podunk U. WHO THEY KIDDIN’.

  4. Equity Free says:

    Its truly a sad story for America, when its one of the three examples above and none are legal . Fraud, Fraud everywhere and our judges remarks echo ” i have not seen a widespread problem, i don,t know what to do ” , I have heard it all before so you will not be given anything but 1-3 months , you pick it .” The mass media outlets are in bed with these same financial institutions who are spending millions as we speak to buy candidates who will let them continue their corrupt ways . They are fighting the expiration of the Bush tax cuts, saying in these tuff times you can’t raise taxes when really record bonuses loom at years end for them . Fact – the top 10 hedge fund managers averaged 900,000.00 per hour, 36 million a week, in the worst economic year since the great depression, 2009. These guys were players with other Wall Street firms who engineered this crises . Now we are seeing that they really are not that smart, they over looked a few things, like the law . Don,t let them buy their way out !
    Keep making waves !

  5. Officer of the Law says:

    Don’t forget the fact that the banks violated a number of laws and committed fraud during the loan origination process.

    This criminal conduct is why most people suddenly found that their mortgage payment was significantly higher than they anticipated, and it lead to defaults which the banksters anticipated.

    As long as the economy didn’t tank and real estate values kept going up, the banks were making a killing at the expense of their victims.

    When their criminals acts did finally take down the economy, the banksters just called in more favors and ripped off the taxpayers.

    I wonder why the regulators and prosecutors just looked the other way while the banksters went on their crime spree and stole the homes and life savings of millions of Americans, don’t you?

    Could it be the same reason why Congress gave hundreds of billions to the banksters while letting millions of Americans who were victims of their crimes get thrown out into the streets?

    Even though we are supposed to send complaints like this to special bank regulators, some of the boys in blue know who committed the crimes and who is on the take, but there is not much we can do with our hands tied behind our backs.

    How do you like that for justice?

    By the way, get ready for the new call for saving the banks from all of those poor people who bought homes that they couldn’t afford.

    • Officer of the Law says:

      I pulled my money out of B of A a long time ago and put it in a credit union. Imagine what would happen if all of the abusive banks suddenly found their depositors moving their deposits to small honest banks or to credit unions.

      Of course, the big banksters would probably just say that the sky was going to fall, the news media would report that as the truth, and Congress would just give them another trillion or so, pass a law making it easier for the banks to take the homes of their victims like the IRON Act, and create a new regulatory agency to regulate the regulators who failed to regulate the banks. Could that be their plan?

      Didn’t one of the few honest members of Congress say the new way to make money in America was by stealing it?

      [youtube=http://www.youtube.com/watch?v=AqnHLDeedVg&hl=en_US&feature=player_embedded&version=3]

      Maybe it is time to vote all of the incumbents out everywhere unless the are taking action to show that they are for the American people and not just helping the banksters steal everything.

  6. Larry says:

    HELLO People!!!!!!!!!! Who do you think owns the Main Stream Media? AHHHHHHH—The Banks?

    Are you kidding me? Come on wake up people.

  7. lucy says:

    A must read for the “deadbeat homeowners.”

    Bring out the champagne!!! I feel like celebrating.

    http://foreclosureblues.wordpress.com/

  8. lucy says:

    I agree 100%
    We know we are being lie to, if only they come clean can we start to clear this mess.

  9. Juan Roca says:

    Rule 10b-5(b), and section 10(b).

  10. Donato Loscalzo says:

    Absolutely agree. The issue is regrettably very clear: banks and financial firms spend substantial amount of money buying advertising on those media and many media commentators have or wish to have a job as pr for the same banks they report on. As an European I am also always appalled on how the American media rushes to provide the American public with “easy” HEADLINE solutions: i.e. borrowers are all irresponsible and criminal delinquents, and they deserve what they are getting. The poor banks are only OVERWHELMED with all this unnecessary paperwork. Nobody reads and understands the Constitution and what it means (no property shall be taken unlawfully) Analyzing WHY the banks (as you detail in great depth) have been doing those frauds is TOO COMPLICATED therefore of no interest…………what a shame, disgusting really.

  11. Linda Venturella says:

    Just wanting to let you know I have been e-mailing all of the mainstream media oulets and letting them know that the people know that they are trying to cover up Foreclosuregate. I also let them know that the people are watching the WH and Pres. Obama is going to have egg all over his face if he doesn’t have a nationwide moratorium. Millions of people are watching. This system wide fraud in our system cannot be swept under the rug .

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