SB 1259 | Now this is Getting Ridiculous – AZ Rep. Carl Seel Drops Amendment 2 Days After Servicer Grants 56% Principal Reduction

Time to break out the tin foil hats?

It looks like the SB1259 “conspiracy theory” just lost more of it’s “theory.” It is becoming more apparent that it is actually a full blown conspiracy.

We discussed the events on this bill here, here, here, here and here…

And now it just got a little more interesting as you will see below…

I still have my doubts about Ms Reagan since It was just way to convenient that she had a settlement conference the same day SB1259 was changed and her lawsuit was dismissed with prejudice just a few days later.

Again, From what I was told, the settlement between Reagan and Colonial Bank, is under court ordered seal and there also may be a confidentiality agreement.

Kinda strange if no back-door deals were done.

But, this post is not about Ms Reagan, it is about a new player in this conspiracy…

From Mandelman Matters

It seems that one Arizona homeowner set out to revive the essence of the bill, drafting an amendment and recruiting Rep. Carl Seel to propose that it be added to Senate Bill 1474, being sponsored by Senator Ron Gould.

His name is Darrell Blomberg, and he’s a Phoenix area Realtor, and a past president of one of the local boards of Realtors… who is now involved in auditing trustee sales for homeowners.  Basically, he looks for some basis upon which a sale might be cancelled, or at the very least postponed.  He acknowledges that it only represents a temporary solution, but it’s often important to the homeowner nonetheless.  He was actually working on one such audit for Rep. Seel, which is how the two came to know each other.

I’d heard about him from another contact I have in Arizona as being someone very active in the legislation related to foreclosures, so I reached out to him over this past weekend to see what he knew.  He returned my call after reading my story about the disappearing SB 1259 bill, and he certainly did have some news for me and he was very disappointed about the whole thing.

According to Mr. Blomberg, it seems that when the day came around for Rep. Carl Seel to propose the amendment, as he had agreed to do, he was running late and ultimately didn’t get there on time.  The amendment was never proposed as a result.

When I first heard Darrell the story, I thought… well, maybe it was traffic.  Or, a doctor’s appointment that ran late?  Perhaps friends came in from out of town?

When Rep. Seel was asked what had happened to prevent him from showing up on time to propose the amendment, he explained that he had decided not to propose it because he was told there was no chance of it being adopted… something about it not being “germane,” whatever that means.

One thing though… from what Darrell explained to me, Carl Seel must have been in a very good mood the day of his unexpected tardiness, because even though he had been previously turned down twice for his own loan modification, two days before he showed up too late to propose the amendment, Ocwen granted him a PRINCIPAL REDUCTION that reduced his mortgage to $88,000 from roughly $190,000… that’s a reduction of approximately 56% give or take a few points one way or the other.

Now that is lucky, was all I could think to say.  Really lucky, considering it was Ocwen, a servicer I’ve been told is among the most difficult when it comes to modifying loans.  In fact, it’s almost like being the single-ticket-lottery-winner-three-days-in-a-row kind of lucky, wouldn’t you say?

I highly suggest you check out Martin’s post in full here…

People in Arizona, in this entire country, should not stand for this if these allegations are true.

As Yves Smith over at Naked Capitalism puts it…

If you thought the Friends of Angelo program, via which Countrywide gave very favorable mortgage terms to assorted Congresscritters, was pretty bald-faced, you ain’t seen nothin’ yet.

It appears the best way to get a deep principal mod in America is to represent a clear and present danger to the mortgage industrial complex.

So there you have it…

Conspiracy or theory?


69 Responses to “SB 1259 | Now this is Getting Ridiculous – AZ Rep. Carl Seel Drops Amendment 2 Days After Servicer Grants 56% Principal Reduction”
  1. Bill McAuliffe says:

    Well in my humble opinion this is hogwash. Sriker “Amendments”
    should be “stricken”. Do the legislators feel their jobs are “germane”?

    —– Original Message —–
    From: “AgInfo AgInfo”
    Sent: Monday, May 02, 2011 11:53 AM
    Subject: Re: Fwd: SB 1259

    Dear Mr. Bill,

    Thank you for contacting the Arizona Attorney General’s office regarding
    this bill.

    This change in subject matter is due to a practice known as a striker
    amendment, in which the entire substance of a bill is stricken and replaced
    with other subject matter. This process is done in the form of an
    “amendment”, but it essentially changes the entire bill. The rules governing
    amendments state that all amendments must be “germane” to the original
    intent of the bill. The definition of “germane”, as one can imagine, is
    often open to wide interpretation, as evidenced by this very bill. This
    process takes place quite often in our State Legislature. You may wish to
    contact your legislators for further explanation.

    Please let us know if you have any further questions.

    Office of Constituent Services
    Arizona Attorney General’s Office

    To stay ahead of the rapidly changing consumer scams and schemes, please
    visit our Web site at, where you can sign up for late-breaking
    Scam Alerts from Attorney General Horne.

    >>> “mrbill” 4/22/2011 6:06 PM >>>

    With all due respect: What the He– happened to SB 1259? I didn’t
    think my jaw could drop further than it already has. These kind of

    void ANY kind of trust in the people who “Govern”. It’s all about
    the almighty buck (which is worth about 79 cents) I am completely stupefied.


    (Mr. Bill) McAuliffe

  2. MAGGIE MAY says:

    I WAS BEING FUNNI..DONT U REMEMBER WHEN I SAY HAIR CURLS ON MY BUTT!! I GET THESE FEELING WHEN IM AWAKE TOO BUT i need to make sure its not emotions and they r real..ive learned to calm myself down and figure ouit out! last night i dreamt that this mans house exploded as in a gas explosion.! then i saw a screen like a movie with credits and only word in it was LOTY…..

  3. l vent says:

    Please, everyone,check out the you tube video that is entitled: BIN LADEN HAS BEEN DEAD SINCE 2001, THEY HAVE SOME INTERESTING THINGS TO SAY ABOUT THE BANKSTERS, NAMELY CHASE AND THE COUNCIL ON FOREIGN RELATIONS. The media showed a video of hundreds of sheeple in front of the WH tonight celebrating the death of Osama. I hope it was all staged. I hope there aren’t this many Americans who are still drinking the kool-aid. ARGH!! There is another you tube video that is pretty interesting entitled, ARE YOU ON THIS LIST- if you are, you are in huge trouble!! It calls out all of the treasonist, traitor, lying bastards. Spread the word.

    • yvonne says:

      Interesting this info from you…I will check it out…I have been saying since 911 that I believe Ben Laden was killed right after and they have their reasons to keeping him “alive”…LOL…maybe I was right…wont be the first time…

    • I vent….I saw some of the crowd in front of the WH…and the write up said the crowd was young college students….some talking were like 20/ 21 or so. maybe a few older scattered in the crowd. But the article said as OB was announcing to the people that BL had been killed , the crowd gathered…from where beats me… This whole ‘ thing ‘ with Bin Laden really don’t make alot of sense. In 10 years…there has been so many stories… what really is the truth ?? Who do you believe, certainly not the TV news or Newspapers,…and the government has not been truthful or tranparent for many years….and has ignored the people of this country since we found the frauds and the corruption reeking everywhere…..and the secret society was and is busy hiding behind the curtain counting the zero’s on their bank ststements and meeting in secret spots….with people living here in this country…planning a bigger destruction to America….When will our government speak up for the people, the citizens.?…So far nothing has been done…so who do we believe?? Yes, again a bigger destruction is being planned to destroy America….and the government is silent.

  4. MAGGIE MAY says:

    mortgage fraud story lee farkas no bail risk flight boydriend sean murla check out murla last name businesses owned!! WTFFFFFFFFFFFFFFFFFFFFFFFFFF?

  5. Maggie May says:

    You can mess with me anytime. You r the only one that can!

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