And Now, For The Real Sh$% Show… Life Insurance Companies v Countrywide, Mozilo, Bank of America, et al
The Market Ticker | And Now, For The Real Sh$% Show… Oh my, what do we have here? Life Insurance Companies v Country Wide, Mozillo, Bank of America, et al That would be a nasty little lawsuit (well, maybe not so little) against Countrywide (and its successor, Bank of America) in which it is alleged … Read more
US Judge Temporarily Delays Shredding of Fraudulant Loan Documents
US Judge Temporarily Delays Loan Document Shredding * Two defunct lenders seeking to destroy boxes of records * One judge temporarily blocks document destruction * In separate hearing, destruction partially allowed * Rulings come amid wide concerns of missing loan docs By Scot J. Paltrow WILMINGTON, Del., Jan 24 (Reuters) – A U.S. bankruptcy judge … Read more
The Consumer Law Group Sues to Stop FL A.G.’s Probe, Insisting That Law is not ‘Commerce’
Law Office Sues to Stop A.G.’s Probe, Insisting That Law is not ‘Commerce’ WEST PALM BEACH (CN) – The Consumer Law Group, of Boca Raton, claims the Florida attorney general has no authority to investigate its business practices because “the practice of law does not constitute ‘trade or commerce’ as such term is defined by … Read more
L. Randall Wray | Requiem for MERS (and the Banks That Created the Frankenstein Monster)
L. Randall Wray Requiem for MERS (and the Banks That Created the Frankenstein Monster) It is now widely recognized that MERS facilitated fraud by lenders, servicers, foreclosers and securitizers. Even on the most charitable interpretation it is very difficult to believe that MERS was not fraudulent by design. So much of the story has already … Read more
NY Post | 2 Banks, 1 House – SI Foreclosure Shows Paperwork Nightmare
Toxic Title Anyone? ~ NY Post | 2 Banks, 1 House – SI Foreclosure Shows Paperwork Nightmare A house divided cannot stand. A house foreclosure case divided by two banks probably doesn’t have standing — in court — either. Two banks, Home123 Corporation and US Bank, both lay claim to owning a house in Staten … Read more
Judges to Weigh Mortgage Document Destruction
Judges to Weigh Mortgage Document Destruction (Reuters) – Federal bankruptcy judges in Delaware are due to hold separate hearings Monday on requests by two defunct subprime mortgage lenders to destroy thousands of boxes or original loan documents. The requests, by trustees liquidating Mortgage Lenders Network USA and American Home Mortgage, come despite intense concerns that … Read more
REO’s | Fannie, Freddie’s $24 Billion Glut Imperils Recovery
Fannie, Freddie’s $24 Billion Glut Imperils Recovery Fannie Mae and Freddie Mac’s combined inventory of foreclosed residential property has quadrupled in just three years and now stands at a record $24 billion. The number of properties on their rolls — now at nearly 242,000 — has increased fivefold. That’s roughly a third of the total … Read more
Open Letter to MERS CEO RK Arnold | NA NA NA NA – NA NA NA NA, HEY HEY, GOODBYE – YOU SAY GOODBYE & NYE SAYS HELLO!!!!
Dear RK: It was with much anticipation and delight that I read this morning the following link… http://www.bloomberg.com/news/2011-01-22/merscorp-s-arnold-retires-as-chief-executive-bognanno-named-interim-ceo.html. As such, on behalf of all American home and property owners as well as taxpayers, I wish you a speedy departure and send you our collective and my own personal sentiments in the following video and words. … Read more
MERS Exposed I: Process Expert Catalogues Fundamental Flaws
MERS Exposed I: Process Expert Catalogues Fundamental Flaws Proposed legislation in Virginia, House Bill 1506, which if passed would eliminate the role of the electronic registry system MERS in that state by requiring every mortgage transfer to be recorded in the local courthouse, is having the salutary effect of exposing more information about this generally … Read more
MERS Exposed II: General Counsel Tells Whoppers in Testimony Before Virginia House
MERS Exposed II: General Counsel Tells Whoppers in Testimony Before Virginia House It has become so common for members of the securitization industry to play fast and loose with the truth that nothing should surprise me any more. Nevertheless, I am taken aback by a rough transcript of the remarks by William Hultman, the general … Read more
A ONE QUESTION POP QUIZ FROM FRAUD DIGEST
A ONE QUESTION POP QUIZ FROM FRAUD DIGEST Are debtor/homeowners-in-foreclosure entitled to protection from criminal acts by their creditor/bankers? a) No – these debtor/homeowners have hurt the U.S. economy so much that they need to be chased off in any effective way. b) No – protecting these debtor/homeowners will slow down the economic recovery of … Read more
Guest Post | Banks Want You to Commit Crimes With Them
Banks Want You to Commit Crimes With Them By Jason Werner You just found a store that sells the product you have desired for so long, and it is going to cost much less than you anticipated, making it much more affordable. This store is literally blowing away everybody with their prices, even WalMart. WalMart, … Read more
FIRST STANDING-RELATED VICTORY IN VIRGINIA: Aurora’s claim to title thrown out for lack of standing!
FIRST STANDING-RELATED VICTORY IN VIRGINIA: Aurora’s claim to title thrown out for lack of standing! Prince William County, Virginia Yeah, I know… You are thinking, What standing? Isn’t Virginia a nonjudicial foreclosure state? Well, the twist in this case was a self-created cloud on the title that Aurora sought to remove prior to its contemplated … Read more
Florida Foreclosure Fraud Class Action | Teresa O’Neal and Marco Delgado v Bank of America
Teresa O’Neal and Marco Delgado individually and on behalf of all other similarly situated persons, Plaintiffs, v Bank of America, N.A., a foreign Corporation, Defendant ~ Complaint and exhibits below… Homeowner Class Action Filed Against Bank of America, Challenging Ownership of Homes Obtained Through Improper Mortgage Foreclosures Teresa O’Neal and Marco Delgado, through the law … Read more
