So much for BofA…
Looks like Buffett made the wrong call…
From the FDIC Notice of Intent to Appear and Object.
Notice of Intent below…
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4closureFraud.org
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FDIC Notice of Intent to Appear and Object
BAM! | FDIC OBJECTS TO BANK OF AMERICA’S $8.5 BILLION MORTGAGE SETTLEMENT
Blank assignments are where the “lender” stamps the back of the note “Pay To _______Without Recourse. Pretty much like you’r endorse a check, but no payee is named.
Plenty of cases have ruled that a blank assignment is not sufficient to initiate foreclosure.: U.S. Bank National Association v. Antonio Ibanez: A blank assignment is not legal proof of perfection of the promissory note.
Anybody read Thirteen Bankers, by Simon Johhson and James Kwak? Last chapter gives me hope.
I am not defending Hitler, mass murder or communism, but he hated the jews for exploiting, robbing and enslaving the aryans, so he wasn’t quite as crazy as you think he was. Well, okay he was crazy, but his intentions weren’t quite as evil, maybe…no they were pretty evil actually, so hell, nevermind.
ARE YOU LISTENING?
ALL THE LOANS ARE DEFECTIVE. THERE WERE NO “LOANS”
SECURITIZATION NEVER OCURRED, IT WAS A SCAM.
If all the”borrowers” own their homes free of liens, then we have the solution right under our nose, and we don’t have to school lawyers and judges on a new area of law they don’t want to learn!!!! KEEP IT SIMPLE!
Defend your home, don’t leave it, becaue there were no “loans” and the debt has been discharged through insurance, bail out money, broker yield spread premiums, pool insurance and piles of money the banks made off of your signature. THEY PROBABLY OWE YOU MONEY, so dont give them another FREE HO– USE.
Right on Nora, this is a Hitler Plan….to steal everything from the people……Securitization is a scam and a fraud…….I read a report that 97% of the debt in America is unsecured…….They just dumped loans in trusts in masse after they committed their crimes and that does not make a loan securitized……Fannie Mae sent a letter to my dad last Dec. stating they never recorded a lien on his home for a personal loan he took….He asked me what that meant…I told him dad, that means that if you can’t pay that bill they can’t legally take your house….it is an UNSECURED DEBT……Imagine Fannie calling themselves out? It is the owners……….who are forcing FRAUDCLOSURES………..THE BANKSTERS KNOW THEY DON’T OWN OUR HOMES…..THEY ARE CARRYING OUT ORDERS…….FOR THE RULING ELITE……!!!!!!
Justice delayed is Justice Denied.
I have to admit that I wrote a critical post on Attorney General Eric Schneiderman statement of being shocked at the lack of evidence gathered in the 50 state AGs, robo signing investigation
” A/K/A the Bank Fraud, Concealment And Forgiveness Commission ”
saying that he reminded me of the police chief in Casablanca, who said he was
SHOCKED, SHOCKED TO DISCOVER THAT GAMBLING WAS GOING ON IN THIS ESTABLISHMENT!
But as he’s the only one who is starting to ask the real questions, of what and how the economic crisis happened. And although he is only one of 50, he is the most important, as in his jurisdiction lies, Wall ST, many of the TBTF Banks, and their lackeys the rating agencies.
So I think we had better give him all our support, via e-mails and letters, and blogs, and posts in articles on the subject.
I think the FDICs action may just be a CYA thing, to appease those who would complain about lack of action by the agency.
Their will not be a universal solution for homeowners in foreclosure. Each state has its variations in regulations and the homeowners need to concentrate on the particulars of their foreclosure. Courts are willing to rule in favor of the homeowner, based on the individual particular facts concerning that case that does not include the areas of mass fraud, ” robo signing, securitization “, and other defenses, that their ruling would set a president for the mass dismissal of foreclosure cases. Even the defense lawyers don’t want that.
That being said, don’t give up fighting, just look for mistakes made by the plaintiffs. The best evidence is often the documents supplied by the plaintiffs. Continue to fight for discovery. And get a good attorney if you can possibly afford one.
Through lawsuits filed by co conspirators in this fraud will expose and reveal some of the fraud, and all will be revealed eventually, it won’t be in time to save millions of families from ruination.
Thus Justice Delayed = Justice Denied.
I agree with your pessimistic observation that only individual lawsuits will be able to ‘discover’ truths. Even that is limited. Attorneys seldom work in a field they know little about for nothing. If we have money to pay them, we are probably not in this mess. Having said that, we have learned some from the lawsuits filed, even by investors, trusts, etc, exposing the underlying fraud. 60 minutes has revealed much as has the movie industry with Company Men, Wall Street, Money never sleeps and other treatments of the meltdown mess. Still he general public is ignorant and do not understand. Those who do are often part of the problem?
In RSN, Reader Supported News there is this quote:
“The few who understand the system, will either be so interested from it’s profits or so dependent on it’s favors, that there will be no opposition from that class.”
– Rothschild Brothers of London writing to their associates in New York, June 25, 1863.
Ignorance was the banks greatest tool in deceiving the public. Like Madoff’s success, it was based on his “success” in deceiving very well placed financially secure individuals through greed. They did not question WHY or how Madoff made them money, just that he seemed to do it well.
Prediatory lending by securitization was the ultimately silver lining for borrowers, banks, investors, etc. Too good to be true until it busted. Did we realize or know we needed to understand that we had signed our loan’s ‘death warrant’ at the closing when an entity like MERS assumed trustee status without knowing who MERS was or their potential for destroying the chain of title or ease in facilitating foreclosure, distancing us and investors from legal remedy?
Yes, banks need to be punished for fraud. The instigators needs to be with Madoff but who does the time? The fault is like feathers in the wind. That is why we can’t get justice now. Everyone has a hand in the mud.
But…the “loans” are all a fraud, the liens were never perfected because the Note never attached the Deed at closing. The “lender” didn’t fund our “loans”, the money came from investors upstream. Our “loans” were all funded by an undisclosed third party who wasn’t named on the contract, (can you say mortgage fraud?) so not a single “loan” is valid. The banks know it’s just a matter of time until someone prys those Assumption and Assignment Agreements out of them, (perhaps a whistleblowing employee will defect with paperwork?) and prove that we were all defrauded at the “loan” closing. The debt has been overpaid by insurance, credit default swaps, pool insurance, off balance sheet transactions that generated million$ per pool, and default servicing fees, none of which was with our authorization or knowlege. Hell, they owe us money!
Why would anyone knowingly pay a different entity than the real creditor?
See, the banks keep the judges focused on the fact that the borrowers stopped paying. We have to shift the focus to the fact that we REF– USE to pay the wrong creditor, and we’ve been the victims of a complete fraud. The loans never made it into any pools, the loans were never sold, and they are all defective, bifurcated and unenforceable because the SECURITIZATION NEVER HAPPENED. Ask Neil Garfield if you don’t believe me.
While Schneiderman is digging into those trusts, he also was opposing this deal, remember?
The NY AG is digging in where it COULD end up helping the little guy. Also, the Knights of Columbus suit against this deal cites the fact that borrowers were ripped off in several ways.
While we should still be wary, we need to back those that are digging into the mess. The more they dig, the more documents are unearthed. Look at the AHMSI vs LPS suit. I hope we see some more of that style of suit against LPS.
If funding is backed by investor banks like Bank of NY Mellon and Deutsche Bank, the originating bank merely funnels money. What does it matter who actually puts money in a deal if the paperwork remains in the original name and trustee? I fail to follow the thinking here that nothing is owed, maybe you can elaborate.
Securitization happened, isn’t it the individual deed/note that was signed in blank and held in limbo through an entity such as MERS? I confess to not understanding a lot about securitization and the steps involved but it looks like banks covered themselves with MERS. The courts, for the most part, are recognizing MERS as a holding database with the right to foreclose now in their own name with the originating bank/mortgage company passing trustee status to MERS. Since MERS holds a legal standing, they can assign foreclosure to any foreclosure mill they choose or so designated by the servicing bank as long as it occurs in the the name of MERS as trustee and the originating bank or mortgage entity. Is this not why MERS needs to be knocked down legally?
Banks and servicers and the investment banks they represent count on both the consumer and investeor not fully understanding the process just as they counted on the poor borrower to get caught up in the predatory process without understanding either his rights or risks.
We need a ‘primer’ on the legal obligation, however, since the courts can’t figure it out I am not sure there is going to be a consensus of opinion on legality of title. Perhaps the missing legal responsibilities or obligations are still beneath the radar at this point?
Securitization can only happen when the endorsed note gets delivered to the TRUST……they have 90 days to deliver the loan file..the law requires they convey the transfer by PROPER assignment…..THEY SOLD UNSECURE NOTES AS SECURITY INSTRUMENTS, SECURITIES FRAUD AS WELL AS MANY OTHER FRAUDS…..READ NYE LAVALLES REPORT……..40 TRILLION IN COLLATERAL FRAUD BACKED BY 8 TRILLION IN REAL ESTATE, UP TO 10 MORTGAGES ON EACH PIECE OF PROPERTY…….THEY RANG AMERICA UP WITH FALSE DEBT……THEY ARE BANKRUPT…….THE BOOKS ARE COOKED…..THEY NEVER LENT US ANY MONEY………THROWING A NOTE INTO A TRUST IS NOT WHAT CREATES SECURITIZATION……SECURITIZATION IS A SHAM AND A FRAUD!!!!!!!!!!!!!!!!!!!!!!!!!!!
the above comment is for talktotennessee…
THE INVESTORS DID NOT FUND JACK SHIT…….They invested in a GAMBLE IN OUR ABILITY TO PAY OR NOT PAY…..THEY INVESTED IN A LOT OF FRAUD AND GOT FILTHY STINKING RICH OFF OF IT…IT WAS A GIANT PONZI SCHEME CRAP GAME THAT HAS NOW CRAPPED OUT….AND THEY ALL INSURED THEMSELVES AGAINST THE RISK….THE BORROWERS WERE WHO WERE SET UP TO FAIL AND SWINDLED….THIS WAS A HITLER PLAN….TO STEAL EVERYTHING FROM THE AMERICAN PEOPLE AND THEY CAN CLUSTERF#@CK EACH OTHER ALL THE WAY TO THE POORHO– USE…..WALL STREET MANUFACTURED THIS MESS…………………………..AND .IT WAS INTENTIONAL!!!!!!!!!!!!!!!!!!!!!!!!! THEY ARE THE PERPS FOR THE RULING ELITE, THEIR OWNERS, OUR ENEMIES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THESE CROOKS DO…………NOT……………..OWN………………..OUR………………..HOMES……………….AND……………….MAINSTREET…………………………DOES………….NOT………………..OWE………………………..THESE…………….CRIMINALS……………………ANY……………..MONEY…………………………!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!RESCIND THE FRAUD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! GIVE BACK THE STOLEN HOMES TO THE PEOPLE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!CLEAR TITLE GOES BACK TO THE HOMEOWNERS WITH MONETARY RESTITUTION!!!!!!!!!!!!!!!!!!!!!!!MAKE WALL STREET PAY AND THROW THEM IN PRISON FOR LIFE……………………………!!!!!!!!!!!!!! THEY ARE FINANCIAL TERRORISTS AND ARE THE REAL BIN LADENS OF THE WORLD………….BIN LADEN WAS A MANUFACTURED R– USE, A DISTRACTION FROM WHAT THE NEW WORLD HORDER WAS REALLY UP TO……THEY WERE COVERING UP THIS HITLER PLAN CREATED BY THE RULING ELITE AND THE COVER-UP FOR ALL OF THIS BEGAN ON 9/11………………!!!!!!!!!! WAKE UP AMERICA, THEY ARE STEALING YOUR COUNTRY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Are these assignments the same that are executed in blank? Laws between states differ so unsure from one state to another how it works. In a non-judicial state like TN, we are allowed access to NOTHING before foreclosure. We are blind going into court or discovery. If we sue to challenge their rights, we must have reasonable cause to even survive dismissal or summary. You can’t just go on a treasure hunt. Non-judicial states hide a lot of illegal process that never are challenged because they are successfully hidden.
Frankly, we have lost legal rights and standing in property ownership, tort reform and many areas in this country while we shout freedom and Democracy for the world, we are quietly losing access to the courts.
I agree attorneys must force discovery…CHAIN OF TITLE….bottom line…..if the pretender lenders followed the rule of law from Origination there would not be an improper assignment filed at my recorders office 8 years after the Origination…AND MANY MORE FRAUDULENT ASSIGNMENTS RECORDED…..My County Recorders office told me they HAVE NOT PROPERLY CONVEYED or ASSIGNED A LIEN in 18 years to my Warranty deed and as a result my house is paid for I can live in it, sell it or do whatever I want with it………..There is no legal fix for what they DID NOT DO within 90 days of origination……….Check your individual states statute of frauds and conveyance laws……It is the CONVEYANCE FRAUD………….THAT IS WHERE THEY RANG US UP WITH 40 TRILLION IN COLLATERAL FRAUD…….AND WHY WOULD THEY EVER RECORD A FRAUDULENT ASSIGNMENT?????? FOR THE LOVE OF GOD, THAT IS MASSIVE FRAUD………
The above comment is for talktotennessee……My county recorder of deeds website talks in the second paragaph of its home page all about the mortgage fraud and conveyance fraud that was pervasive in the mortgage industry and has blighted our communities…..!!!!!!!
talktotennesse, what in God’s name is an assignment in blank???? I have never heard of such a thing………
Bloomberg reported today that BOFA sold half of its investment in a Chinese bank to raise a few billion..Bottom line, the TBTF are ALL insolvent and the books are cooked…Maybe they are finally realizing Mainstreet is broke because of what they did….40 trillion in collateral fraud, 10 mortgages on one home…..MAINSTREET and the U.S. GOVERNMENT CANNOT PAY FOR THEIR PONZI SCHEME ANY LONGER….MAKE WALL STREET PAY THEIR OWN FRAUDULENTLY CREATED DEBT…!!!!!!!!!
First ever audit of Fed reveals 16 TRILLION in loans to banksters,
http://readersupportednews.org/news-section2/320-80/7224-matthew-cardinale-inter-press-service
Sell? I think this means deliver, BOA has been financed by the Chinese, the Chinese effectively owns all the land that they own money on, by silent title, BOA is just shedding or stripping liability exposure to lighten the overload and to down play the end result. The Chinese wants their money back and BOA is paying them off with our land and our homes. Are we a sovereign nation, do we own our homes and land or does a soup of foreign banksters and investors own the whole thing?. If you owe more money than you can pay back with case then you have to pledge hard assets, BOA cannot afford to litigate the peep homeowners, nor can it sustain the debt it owes to the Chinese.
MARIO KENNY: .The Chinese ARE NOT to BLAME for this Hitler Plan though they stand to get very wealthy off of the interest from the U.S. GOVERNMENT BORROWING FROM THEM TO TRY AND COVER THEIR CORRUPT ASSES…..YOU MUST DO YOUR HOMEWORK ON CHINA…..THEY STEAL FROM US OUR KNOWLEDGE BUT THEY DO NOT OWN SHIT…….PUT IT LIKE THIS MARIO, IF YOU OWN CITI A CREDIT CARD DEBT DO YOU THINK THEY OWN YOU…..?????. THE VATICAN OWNS THIS PLAN……..SURE THE CHINESE WANT THEIR MONEY BACK BUT NOT FROM THE AMERICAN PEOPLE..THEY WANT IT BACK FROM THE NEW WORLD ORDER….THE CHINESE ARE NOT STUPID ENOUGH TO BITE THE HAND THAT FEEDS THEM……
THE WORLD BANK AND THE IMF ARE BEHIND THIS HITLER PLAN AND THEY — USED WALL STREET AS THEIR PERPS…….AS WELL AS THE FEDERAL RESERVE…….THE VATICAN OWNS ALL OF IT BUDDY………..CHINA IS NOT OUR ENEMY……THAT IS A MANUFACTURED DISTRACTION FROM WHO THE REAL OWNERS…BLAME CHINA, BLAME OBAMA, THAT IS ALL MANUFACTURED BULLSHIT…….THE NEW WORLD HORDER AT THE VATICAN RANG AMERICA UP WITH 40 TRILLION IN FAKE DEBT WITH THEIR WALL STREET PERPS AND IT WAS INTENTIONAL..WORD IS RUSSIA, CHINA AND JAPAN ARE ANTI- NWO ESTABLISHMENT…….LET US NOT GET CONF– USED BY WHO THE BEAST REALLY IS HERE……..
MARIO KENNY, HOW CAN THEY BE PAYING CHINA BACK WITH OUR HOMES WHEN THEY DO NOT OWN OUR HOMES????????? ARE YOU SAYING THE NWO IS TRYING TO FOMENT WWIII WITH CHINA..?????????……..AS FAR AS THE LAND GOES, WE NEVER OWN THE LAND, THAT IS WHY WE PAY PROPERTY TAX…….SOMEBODIES LYING……TO SOMEBODY AND IF THEY ARE SELLING OUR HOMES TO CHINA…….THEY ARE IN ALOT OF TROUBLE…..BECA– USE THEY DO NOT OWN THEM……….I HEAR RUSSIA IS NOW INVESTING IN OUR DEBT………THIS IS A VERY DANGEROUS MONOPOLY GAME BY WORLD POWERS….WE NEED OUR OWN CURRENCY….PERIOD,,,,,,THAT IS THE ONLY WAY OUT ALONG WITH FORCING THE CRIMINALS WHO ROBBED AMERICA TO PAY THE AMERICAN PEOPLE BACK WHAT THEY STOLE SO WE CAN START OUR OWN BUSINESSES……..FOR THE LOVE OF GOD, WHAT THESE CROOKS ON WALL STREET OWE THE IRS AND THE COUNTY RECORDERS…… ALONE WOULD BANKRUPT THEM……
MARIO, there is a lot of fraud and robbery of the worlds gold that is being hidden here….I read the Vatican holds the worlds gold in Swiss Banks…….there is alot more fraud here than meets the eye…This is how the NWO bankrupts nations and overtakes them with their fraudulent fractional reserve banking system…it is all a giant scam and a fraud..The books are cooked and the massive deception is hidden in the fact they never lent us any money………..THEY BANK ON RECIEVABLES FRAUD……NO COLLATERAL TO BACK THAT UP……..IT IS A/K/A BANKING ON PROMISES……
You could also call it banking on fraud and deception……
Bank of NY Mellon is trying to cover their investment risk butt as well with the settlement binding their trusts. B of A is trying to lose liability risk from the same trusts. FDIC is trying to hedge their future risk. Everybody is working to cover their posterior except no one is working for us!
Not sure the FDIC is in that good a shape frankly to pick up the tab if B of A fails. FDIC is facing a lawsuit on their dissolution of WAMU now, left holding the bag there. This may be history repeats if Bank of NY and B of A arrange an 8 Billion settlement, walk with the money, leaving the FDIC (and taxpayers) holding the bag from legal action. If you think about it, FDIC guarantees deposittors but if B of A fails and FDIC has to defend against B of A’s mortgage mess as they are being charged from WAMU, then the fallout could potentially take FDIC down, forcing them to borrow from the treasury. In the end we would be scammed the 2nd or is this the 3rd or 4th time now? Why should the FDIC allow Bank of NY Mellow and B of A to make an inside deal letting both of them off the hook and leaving FDIC (and again taxpayers) the bag and fallout.
Suspect B of A was aware of the FDIC risk and Warren was ‘damage control.’ B of A isn’t laying off thousands for no reason. They are in trouble and trying to swim out but like the rest of us, they bit off a little too much and they are now swimming with the sharks.
So be it! If we must drown over the banks predatory practices and credit derivatives then they should go down too but in the end, the Treasury picks up the tab as the buck stops there.
We need our own currency coined by congress backed by Gold or Silver..issued via the U.S. TREASURY…..that is the only way out of this mess…the U.S. GOVERNMENT can collect the tax off of our own currency and pay down all of the fake debt in short order…..All we are doing now is paying massive interest payments to the FEDERAL RESERVE on their money counterfeiting operation……..and America is sinking further into the manufactured debt abyss…….
I just think it’s a drag no one can trust antone anymore.
Did anyone notice that the attorney for the FDIC is the same attorney who filed the paperwork that will force this into federal court? That paperwork was filed just last week and the point of doing that is with the federal courts, the different investor groups can possibly opt out. The chummy tactic by BNY-Mellon and BofA was to use the NY state courts where they could FORCE EVERYONE to take the shitty deal being stuffed down their throats and bow and smile about it.
Federal court has no such thing as the “Article 77” that BofA and BNY were needing as a way to a quicky and cheap fix.
Yes, I agree that BNY Mellon and B of A are trying to engineer a deal to extract both from investor risk. Shake hands with the devil! None of these players are in fear of us or the public, they fear each other, investors, the courts, government, those with clout. Exposure is our only hope but there are few to champion our cause.
If we could knock MERS’ legal standing out of the box, now that could give us a huge footprint!
It is obvious by all of the FRAUDCLOSURES that these criminals fear no one….They think they own the place……they will own this country if we let them get away with this MASSIVE FRAUDULENT MORTGAGE FRAUD PONZI SCHEME HITLER PLAN and the cover up for this plan for GALACTIC WORLD DOMINATION that began on 9/11……….And then it will be chaos and Anarchy because no one will want this Totalitarian one world Government, a fascist COMMUNIST tyranny shoved down their throats…CONFORM OR PERISH, MY ASS….SCARE TACTICS BY THE CRIMINAL RULING ELITE AND ALL OF THEIR COHORTS AND MINIONS…….Time to take our country back America……!!!
Bil McAuliffe,, as long as the Fed issues our currency there is no way out……we need to ABOLISH THE FEDERAL RESERVE BANKING SYSTEM FROM AMERICA….IT IS UNCONSTITUTIONAL….AND ILLEGAL…….IT IS A TRICK BAG….OF DEBT ENSLAVEMENT….THE FOUNDING FATHERS WARNED US ABOUT THIS DEN OF VIPERS…..
It’s good that the FDIC is not going to pay for Bank of Am’s fraud ~ I guess that B of Am will have to come up with some “add-on charges” to add to their customers monthly statements so they can pass it on to someone else ~~
However, if the NY Federal Courts rule by law w/o biased and duress from the White House, Fed Res and the other corrupt bunch then it just could be a bad day in court for this cartel of thieves ~~~
I do not buy this one bit its a horse and pony show, why would the regulator want to do this when they and the banks they regulate are one and the same? its like taking money from your one pocket and putting in your other pocket, same shit different pile. I call SHAM
R IGHT ON MARIO!
….either that or they are gonna pull another Bear Stearns collapse on BOA!
I’m suspicious too, Mario and Rob. I’ve learned to be, from the endless promises of doing something about the MASSIVE FRAUD. The endless promises that NEVER punish the banksters.
Finally!! It looks like the law might just be working. The homeowners know the banks have been paid off by the insurance they claimed on the properties, and now think they should pay less in penalties. Attorney General
Eric Schneiderman is right, by demanding BofA pay up to the investors and the homeowners. I say go get the bastards.
what law!
Indeed Rob, what law? I call BS, and my meter is broken!
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