Explanation of Securitization

Just added this fascinating explanation of the securitization process to the securitization tab… I do not know who the author is but it is well worth the read… The author of the document is Richard F. Kessler Documentary Clearing House LLC. 941-924-5608, richardfkessler@verizon.net documentaryclearinghouse.com Published with consent of  author Explanation of Securitization Introduction Securitization takes … Read more

IRS Form 938 – I Have No Idea If This Is Important But It Sure is Curious

From Matthew Weidner Sometimes this all becomes a bit too overwhelming, trying to unravel this whole foreclosure cataclysm.  This is so far beyond the simple situation where a borrower borrows money from a bank and doesn’t pay….that bank is clearly entitled to their money back. I’m a fairly bright guy with a good education and … Read more

REVENGE OF THE DEBTORS – WHO CAN LEGALLY ENFORCE A MORTGAGE AFTER A “LANDMARK” CASE

“These cases encourage debtors and other parties to defensively use the mortgage securitization servicing system to prohibit servicers and other non-lending parties from enforcing rights under a mortgage. This trend, if it continues, may have significant impacts for consumer-debtor lawyers, as well as law firms that enforce mortgages and participated in mortgage loan securitization.” “A … Read more

This Judge “Gets It” Indymac Bank F.S.B. v Yano-Horoski

Indymac Bank F.S.B. v Yano-Horoski “Upon the Court’s own motion, it is ORDERED that the Adjustable Rate Note in the amount of $ 292,500.00 dated August 4, 2004 made by Diana J. Yano-Horoski in favor of IndyMac Bank F.S.B. shall be and the same is hereby cancelled, voided, avoided, nullified, set aside and is of … Read more

Defective Paperwork Strips Mortgage Holder of Foreclosure Rights NO. 09-CV-10988-PBS

MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. and COUNTRYWIDE HOME LOANS, INC., v WARREN E. AGIN, TRUSTEE, A Massachusetts federal judge has upheld a bankruptcy court ruling allowing a trustee to treat a mortgage as an unsecured claim, which strips the mortgage holder of foreclosure rights, because of defective mortgage paperwork. 4closureFraud http://4closurefraud.org/

EXECUTIVE ORDER 13519 ESTABLISHMENT OF THE FINANCIAL FRAUD ENFORCEMENT TASK FORCE

EXECUTIVE ORDER 13519 – – – – – – – ESTABLISHMENT OF THE FINANCIAL FRAUD ENFORCEMENT TASK FORCE By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to strengthen the efforts of the Department of Justice, in conjunction with Federal, State, … Read more