We will be hosting our radio show today on WDJA 1420 from 8-10 am EDT.
We are going to have some interesting updates and discuss topics emerging from the foreclosure/financial crisis.
So tune in if you are local in West Palm Beach or join us on the web at http://www.jammin1420.com/ and click on the listen now button in the top right corner.
Be sure to call in and ask your questions or post them in the comments below.
You can also log into ForeclosureHamlet.org and ask your questions live while we are broadcasting.
Call in number is 561-265-2121.
~
Are you aware that there is a new fraudster in town named PennyMac. This organization is composed of the same executives that headed up Countrywide and also worked for Bank of America. They are buying mortgages from banks at pennies on the dollar. They opened their IPO with the pretense of modifying mortgages, but upon further examination, it very rarely happens.
After buying distressed mortgages from banks like, Bank of America, Fannie Mae, CitiMortgage and the like, they can foreclose on them and make tons of money.
http://ezinearticles.com/?Loan-Modifications—Penny-Macs-Innovative-Concept&id=3098182
http://www.forbes.com/2008/03/24/pennymac-countrywide-update-markets-equity-cx_ra_0324markets29.html
Pennymac is backed by BlackRock industries. Interestingly enough, BlackRock industried recently sued Bank of America for selling them mortgage backed securities that were not good. Could this be Bank of America’s way of helping BlackRock make money back on their investments?
http://www.zerohedge.com/article/blackrock-bank-america-catch-22
http://www.huffingtonpost.com/2011/06/28/bank-of-america-nears-85b-mortgage-settlement_n_886412.html
http://www.gurufocus.com/news/138273/pennymac-mortgage-asymmetrical-compensation-pmt
http://www.housingwire.com/2011/05/04/pennymac-yearly-earnings-skyrocket-no-sign-of-new-securitization
The same CEO’s that created this subprime mess are now making excessive profit on it’s demise….and who is paying for all of this? The middle class American homebuyers who were lured into dysfunctional loans then told that we were deadbeats for not paying our bills.
I’m hoping that a good reporter will uncover this mess and give it a little public exposure.
Has Robo-signer, Cynthia Riley been deposed yet? If so what was the results and if not, why the continued hold-up?
Here’s a list of homes whose mortgages are up for sale by PennyMac over at this site:
http://loanmarket.net/search?state=&pp_cmv=&payment_history=&purchase_price=&property_type=&lien_position=¬e_rate=
They have gone right back to doing whats’ been going on since the early 90s.
An example: Anyone can get online and view these properties and buy them.
How many times has this particular property been bought?
http://loanmarket.net/listing/view/3016
Who ever is considering purchasing the paper on this should be sure what they see is what they
get and it’s authentic.