From the man who brought us Bankster v. Deadbeat Debate…

And most recently Untangling the Foreclosure Mystery…

Now we get his next article…

But first, some comments from Matt…

The editors sat up and took notice by the responses in the comment section and have assured me a total of five commentaries…I know the response is in direct relation to your support, and that of your readers!!  Thanks again.

Granted the slant is local, and this week I covered the County Clerk, but next week I start to discuss what the Judges have been up to!  I expect to be escorted out of the Keys very soon!!  The response throughout the community has been great as well.

Keep up the good fight!



by Matt Gardi

Part Doo because this is where it really starts to stink, and we’re all stepping in it.

If you recall last week I began to unravel the foreclosure mess that is invariably affecting every one of us. I began this series of commentaries to discuss how all of the economic ailments you are hearing about lately are intimately entwined.

Property values, court budgets, pension funds, robo-signing, tax base, foreclosures, and bank fraud are all seamlessly linked together.

Last week I described how main stream media covers this crisis superficially, and never gets to the meat of the story, while only touching on foreclosure “paperwork issues” the banks are having, and thereby omitting the holy grail of systematic fraud.

I posed the question, “Why do the banks have to produce questionable documents to proceed with a foreclosure?” and “Why can’t the banks simply use the documents on file in the County Clerk’s Office to foreclose?”

I alleged rampant, intentional, widespread bank fraud is the reason, and I answered the questions above by suggesting that the banks intentionally destroyed original notes and mortgages. On purpose.

I also suggested that they intentionally avoided filing subsequent assignments of mortgages, thereby evading billions in filing fees. I left you with another question: Why would the banks intentionally do that?

Here is a quick synopsis of what was going on during the housing bubble. Mortgages were intentionally being given to anyone, so long as you were breathing, and in some cases even if you weren’t.

So if you know someone who exploited this open spigot of cash, remember they could not have done it without the banks being COMPLETELY willing to provide the poorly underwritten loan.

Now get over to the original post to read the article in its entirety and get involved in the comments here…

If we can get more local voices to speak out, we can really educate the masses…

Thanks again to Matt and  his editors for reporting the truth


9 Responses to “Matt Gardi | Key West News – HOW THE DOG ATE MY MORTGAGE ASSIGNMENT – PART 2”
  1. CoCo says:


  2. CoCo says:

    If you received a Pick-A-Pay loan from your mortgage broker/loan officer, you need to file a complaint with Department of Banking and Finance against that loan officer and the company that they worked for if you did not receive the appropriate disclosures regarding negative amortization. These types of loads were pushed by the wholesalers, the mortgage brokers and you were the victim. These loans are a big reason that people are underwater today. Don’t worry if the loan officer or the company is out of business. They are required to keep your files on record. They have probably resurfaced under another company’s name by now. I think you will find that the same appraisers were used over and over again to get the bogus appraisals. Do you smell “kickbacks”? When these brokers’ fees for these horrible loans are checked, you will see that your loan officer made as much as 15k-18k on your loan especially if yield spread was not disclosed-that is where the bank paid the mortgage broker extra money to give you a MUCH HIGHER INTEREST RATE THAN YOUR CREDIT SCORE DICTATED. They made a bundle.

  3. TUCKER says:

    more and more lies says:
    May 16, 2011 at 5:51 AM …………..

    You should file a complaint against the appraiser for fraud. You need to do this with the DBPR in the state of FL, its a long slow process. Usually takes them about a yr. to complete due to lack of personel,but if you keep on them , they will get it done. You won’t receive any money from them for the appraisal derelection, but they will procecute the appraiser. Then file a suit against them and others for the fraud….

    • CoCo says:

      The others for fraud are the loan officers and the mortgage companies that consistently used one or two appraisal companies. In other words, they were in cahoots. Should be easy enough to verify.

  4. more and more lies says:

    i found some intresing info on my appraiasal i would like comments. this is a florida appraisal from 2/2006.
    comp 1— on MLS x 51 days at 225k sold for 245k
    comp2—– bought in 4/2005 for 238k sold agian 10/2005 280k (how did they come up with 280 property value in 2005 is the mystery here) it sold in only 17 days. at that price
    comp 3also sold for 280k for sale 5 days, in county records states the home was built in 2003 but here was no tax assessment done on the house very sneaky stufff

    doesnt the under writwe check out these inconsistencies before approving a mortgage. isnt that there job. the not finding the tax appraisal for this home built in 2003 is odd very shady to me. should have been thrown out no basis fo rthe 280 appraisals both in 2005.

    please need comments. need to know what to do with this fraudulent appriasal. my home should never have been approved.
    one other question you know how we are all called dead beats when actually for me wells fargo told me to stop paying. so this is there own doing. to get me to foreclosure fast to collect the CDS insurance (credit default swap insurance) ect. we all know that it is out in the open.
    i found amongst my mortgage paper work. the credit scores they used to fund my house. they “were” high 700’s
    consistent with a person with good ethics in bill paying ect.

    and word on presenting this to the judges as a character witness. it is time stamped and dated.

    thanks fro helping pulling all threads to save my yo know where i stand. i have appraisal fruad and wish to sue wells fargo and its underwriting tam for approving this and not questioning house flipping and straw buying.

  5. Officer of the Law says:

    Don’t forget that the banksters also promised certain terms, but then, the banksters put different terms in the stack of documents presented at closing. By the way, that is fraud and a violation of the Turth in Lending Act. Of course, the banksters bought the prosecutors and regulators in order to avoid criminal charges for their crimes and in order to get away with stealing the homes of millions of Americans and saddling most of the rest of America with loans for much more than their homes are now worth.

  6. jzseeker says:

    While the content is revealing …….. power brokers are happy you are amused and not spurned to action. We have such a great serfdom in the US, that we become easily herded by comic strips.

  7. housemanrob says:

    Damn right on video!

  8. Jack W. Dopp says:

    We don’t have judge problems, because anyone can start a foreclosure in California, without a note, without a Trust Deed, without a lien of any kind. We don’t get to go before a judge until the eviction, and then they pay no attention to our responses. It seems that we can only get any kind of justice in Federal Courts-not State courts.

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