Open Letter to Louis Ranieri, Father of Mortgage Backed Securities – Solving America’s Foreclosure Crisis

An open letter to Louis Ranieri* My name is Michael Olenick.  I’m the founder and owner of Legalprise, Inc.  We work for foreclosure defense lawyers.  Their clients face the same wall that yours do, from the same people, mortgage servicers who – using the verbiage defining right from wrong in our local courts – “[have] … Read more

Father of Mortgage Backed Securites Lewis Ranieri: Securitization is Not the Villain

Ahhh but I say yes it is. He claims that the abuse of securitization is to blame. Well, I say if it is abusable, then securitzation IS to blame. “Securitization is not the villain. Abuses in securitization are to blame,” Mr. Ranieri wrote. In Mr. Ranieri’s view, the practice he invented wasn’t the culprit in … Read more

No Federal Preemption by a Trustee of a Mortgage Backed Security Trust from Senior Counsel of the Office of the Comptroller of the Currency

From the letter… Discussion Pursuant to 12 U.S.C. § 371, national banks may “make, arrange, purchase or sell loans or extensions of credit secured by liens on interests in real estate, subject to * * * such restrictions and requirements as the Comptroller of the Currency may prescribe by regulation or order.” The OCC’s real … Read more

Deadbeat or Not? You Decide! Re: Lehman Brothers Holdings, Inc.

From the Hamlet Again, let’s revisit that “deadbeat borrower” stigma again. The pervasive yet hollow-toned propaganda aimed at diverting attention from the real perpetrators of the biggest scam in the history of the world by blaming the family whose scheming ways had them planning and executing the downfall of the global economy (and even worse, … Read more