Just How Much Foreclosure Fraud Exists? Presenting the MBA’s Brief in the Florida Supreme Court Pino Case

“The fact that the MBA is this concerned should speak volumes about the magnitude of foreclosure fraud in Florida.” ~ Mark Stopa

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Just How Much Foreclosure Fraud Exists?

The Florida Supreme Court is currently deciding whether a plaintiff should be able to voluntarily dismiss a pending lawsuit when a defendant is seeking sanctions for fraud on the court. I’ve been following the arguments and the briefs being filed, and I’m struck by what I just read from The Mortgage Bankers Association.

In the first issue of its brief, MBA argues (stay with me, it’s important, so I’m quoting it):

Initiating radical change in the applications of Rule 1.420 and Rule 1.540(b) could convert the mortgage debacle, from which Florida is slowly recovering, into a widespread financial crisis. … [Not allowing a plaintiff to voluntarily dismiss a lawsuit in the face of a claim for sanctions for fraud on the court] would impact general credit and lending practices, just as the fragile real estate finance industry begins to rebound from a severe economic downturn. If the [banks] face potential revocation of voluntary dismissals, lending practices in Florida could come to a grinding halt. The threat of sanctions would force lenders either to prosecute technically infirm cases, rather than cure defects in a new proceeding, or risk being prohibited from re-filing, after faulty documents have been corrected. Such unduly harsh procedural impediments would deprive lenders of the ability to collect their loans or apply collateral to satisfy these obligations. Without the ability to collect on defaulted notes, lenders would be unable to make new loans and refinance indebtedness in this State. The economic impact could be devastating to the State of Florida.

You can check out the rest here…

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4closureFraud.org

Comments
13 Responses to “Just How Much Foreclosure Fraud Exists? Presenting the MBA’s Brief in the Florida Supreme Court Pino Case”
  1. Sarah says:

    Go Mary, I totally agree. America needs to go get our shit and bring it home. Before its sold again!!!
    I mean stold. We cant let them take our homes, our children, and dreams,or our land. STAND UP AND FIGHT!!!!!

  2. LVLawman says:

    I have litigated against Elaine Johnson James in the past and she has a way of prevailing in Appeals where the facts and law are not on her side or the plead for result is clearly not in the interests of justice. I have been on the loosing end with her in these circumstances.

    Unfortunately I don’t think Pino will previal here. The case law seems to allow Plaintiff’s to hide behind their attornies to avoid the ultimate sanction of Dismissal With Predjudice.

    So when you get caught with your hand in the cookie jar, just dismiss the case “without predjudice” to avoid reprucussions.

  3. Esteban Oquendo says:

    I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.

    Quote from
    Thomas Jefferson

    • LVLawman says:

      Esteban:

      The banks absolutely control the US currency.

      Most people don’t realize it, but the Federal Reserve Bank is a private, profit making, institution owned (literally) by the banks. The Fed is not a government agency at all. People think it is because the Chairman must be confirmed by the Senate and must report bi-annually to congress. Look it up!

  4. dRp says:

    These scare tactics and poorly written narrative have no basis in truth or fact. What are the facts? Well like most states Florida incorporated the Uniform Commercial Code into Florida Law. Under the UCC comes the Unfair and Deceptive Practice Act which Florida also adopted. However, the BANKS ARE EXEMPT.

    We are not blind any more! You banksters think yourself above the law and conspire with the government to make it TRUE. Call your legislator and ask “Why do you think banks should operate unfairly and with deception?”. They won’t even know what your talking about. It sounds crazy, but in this case the banks are clearly exempt from the law. There was a bill introduced this last session to remove the exemption, but Rep Eisangle, as Chairman refused to allow it to come before the subcommittee on Civil Justice.

    These are the BANKS legislators, not the peoples. What do you have when there is no law, but the rule of power?

  5. PATRICK THE PATRIOT FARRELL says:

    The claim that they will not be able to “lend money” is assinine, and a blatant fraud.
    The banks used your signature and promise to pay, and created the value UP FRONT, and turned it into money,and multiplied that amount by sales trades and insurance.They vampire sucked all the equity out of your home,called it their loss, and got paid over and over.My neighbor wants to kill John stumpf, is he finds himself with cancer and nothing left to live for.Go out with a bang.
    Me? I just sue everybody.Lawyers, judges, politicians, bankers, etc.

  6. woodknotgo says:

    Sanctions for Fraud on the Court ? does this mean the same in regard to Motion To Compel Discovery Sanctions also…….This Pino Case is very interesting~~~~~~

  7. PATRICK THE PATRIOT FARRELL says:

    Karma.All is sin and it’s rewards. Nothing escapes the real law.
    A Christian viewpoint is like tipping a good waitress after a well served meal.
    You sign a prom. note, the bank takes it into their bank, creates an asset, that they can sell, or loan out 10 times the money, making interest and fees. Then after several months, they say thank you, and according to GAAP, they have to show a liability as to where that asset came from, and the liability is to you, and they kindly pay you the amount of the note.Everyone wins, when everyone shares. Yes, people it is possible.
    But what we have are assholes like John Stumpf [wells fargo CEO] who must maintain his $20 million a year pay.
    12. E.E.S.A. UNJUST ENRICHMENT-SUBJECT TO U.S. TREASURY ENFORCEMENT
    13. FACT-Plaintiff mentioned this way back in SEPT.15,2008 in court with transcript.
    14. Fact: “Pooled” mortgages and NOTES are insured 30 times on their face value amount.
    Fact: the instruments “pooled” in the real estate “pools” are split-apart NOTES and Mortgages.
    Fact: i.e., a $100k Note-Mortgage, will be split-apart, as separate accounting entities, and deposited separately into separate “pools.”
    Fact: the $100k NOTE will be deposited into “pool A”
    Fact: the $100k Mortgage will be deposited into “pool B”
    The bank now has $200k in deposit accounts which it can “deposit multiply” by 10 times.
    15. Federal Reserve scam. (See Modern Money Mechanics by Chicago Federal Reserve Bank).
    The bank now has $2Million. Would you call that unjust enrichment? The money was generated without disclosure to PLAINTIFF, the issuer of the NOTE.
    16. The two $100k pooled asset deposits are insured 30 times on the face value amount of each.
    17. Fact: the originating so-called “lender” had already contracted to sell the instruments from the transaction with PLAINTIFF to a so-called “loan aggregator,” “investment banker” or other entity in a Special Purpose Vehicle pool (SPV) and the bank was paid for the full “loan” amount plus typically a 2.5% re

    • indio007 says:

      This is EXACTLY what they did. The accounting of money flow is one account and the seizure of collateral after default is another. This is the cover up. They made equal funds off of both as if they where 2 seperate and distinct assets.

  8. Beth A. says:

    How much fraud is there?
    SOooooooo much that it has overloaded the system….and now WE ARE ALL paying for it.

    Satan’s minions – all of ’em.

  9. Are you f#$cking kidding me??Where the hell is the Justice in that???

    • Mary says:

      Justice went out the window a long time ago. It is up to us to reinstate it. We are in a sea of disinterest. You have to give them(the bankers) snaps. Quite a brilliant plan. They know exactly what they are doing. Most people are to tired and way to broke to fight. Just living day to day is a trial. JUST WHERE THEY WANT US! We have to remind ourselves that we have the numbers. There are billions of us out there. We have the power to stop this right now! Everybody please down an energy drink and lets get to work!!

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