The American People Are Angry Senator Sanders·
http://www.youtube.com/watch?feature=player_embedded&v=8Y-u0UnKZ_U#!
http://www.youtube.com/watch?v=iM-tlpMHpdo
http://www.youtube.com/watch?feature=fvwp&v=BORjkIcIcwQ&NR=1
https://www.youtube.com/watch?v=pE3oiKuU8UI
From deadlyclear.wordpress.com
A couple of weeks ago forensic auditors and attorneys ran into the Bloomberg Terminal iceberg when Bloomberg Terminal (a securities stock searching software program) locked them out of the loan finding program [LFND]). Without warning Bloomberg Terminal shutdown access to the loan searching program that had been used by numerous companies to research securitized trusts and the loans within in them. It appears too many loans had been found in trusts when the servicers were claiming ownership. What better way to stop the truth than to try to sink the ship?
Unknown to most homeowners, their mortgage loans ended up trading on Wall Street in alleged REMIC trusts, supposedly tax shelters for investors who turned over primarily 401ks, pension and retirement funds in what now is viewed by many as the world’s largest and most egregious un-prosecuted Ponzi scheme [and its no wonder why Bernie Madoffwants out of prison, at least some recovery was achieved]. It now appears the INVESTORS in the securitized RMBS (Residential Mortgaged-Backed Securities) trusts failed to scrutinize the assets of the alleged REMICs. It also appears, the Depositors and Trustees for the trusts apparently did not properly and timely assigned the mortgage loan documents to the Certificateholders and it appears in most cases the REMICs have actually failed.
From what sources inside the loan audit and forensics companies say, many times the servicer initiates a foreclosure action in its own name when it doesn’t own the loan. In particular, the loan may actually be in a REMIC trust – that many times has been paid! Paid by either Uncle Sam TARP (thank you very much) or by some other entity that the borrower has no obligation or agreement to repay.
The dilemma here is that the IRS doesn’t care who pays your loan, as long as neither you or your benefactor claim deductions. For example, attorneys have noted that if your Uncle makes your mortgage loan payments, as long as neither you or he claims deductions, that is perfectly legal. Under current law, each taxpayer is allowed to give gifts of up to $1 million in their lifetime before they begin paying gift tax. Gifts which exceed $13,000 to the same person in one year must be reported on Form 709, and those gifts then reduce the taxpayer’s remaining lifetime limit. But no taxes actually apply until the taxpayer reaches that $1 million lifetime exemption.
In many cases these REMIC trusts appear to be current when servicers began foreclosure. Investors have been paid whether through TARP funds or foreclosure insurance – and in that case, loans still existing in the trust may not actually be in default. Goodness, maybe the banks haven’t been reporting on the Form 709…
Homeowners have become more savvy theses days and many are asking to find their loans before they are in default. Since the banks have been less than forthcoming, forensic auditors and attorneys began using Bloomberg Terminal to research the trust location of loans. While your name and address do not appear in Bloomberg Terminal, your loan information may be available, such as your loan number (although many times the banks have changed the original loan numbers), your credit score, the amount of your original loan payment, interest rate, zip code, amount and date of your mortgage – enough information to pretty accurately pinpoint the alleged loan that is actively trading…Yes, actively trading. Maybe even portions of it has been paid off.
Although there are still other options open to finding your mortgage loan, the freeze out of Bloomberg Terminal is a little more than suspect. Admittedly, Bloomberg makes a ton of money from these small companies – its about $2000 a month to operate the Bloomberg Terminal software. On the other hand, Bloomberg is intrinsically linked to Wall Street banks and it connections are strong and go very deep.
So, auditors feel somebody likely dropped a chunk of change …or asked a VERY big favor when Bloomberg shut down their LFND customers. Thar’s not the only issue, Bloomberg may have left itself open to a Tortious Interference class action lawsuit. It wouldn’t be surprising to find that big banks and servicers like Aurora (formerly owned by Lehman) and others like BofA contacted Bloomberg and offered monetary infusions to reset the forensic auditors’ computers. Not everybody was aced out… just the smaller companies (isn’t that a bias?) that would prefer to chew off a leg or two of these banks rather than play the “sell-out your client” game.“Bloomberg had the right to terminate the contract at any time. But what if Bloomberg was told, forced or otherwise convinced to shut down and terminate service providers contracts?
Wouldn’t such an act constitute tortious interference with contract or perspective business advantage?” asks Florida attorney Anthony Martinez, a Litigation Discovery Expert, Consultant and Strategist, who will be hosting a blog forum discussing this subject on Thursday, February 21, 2013 at 8 pm EST on his Blog Talk Radio Show – “Strategy No 3. Securitization – The Truth About Your Loan“.
Last July 2012, shortly after Hawaii attorney Gary Dubin submitted a declaration of a Bloomberg Terminal analyst who had found a loan Aurora (the servicer) claimed to own actively trading in a Lehman XS Trust 2007-5H to the Hawaii United States District Court, Honorable Judge Seabright, the company Mr. Dubin used to obtain the research suddenly was frozen out of the LFND portion of Bloomberg Terminal.
The opposing counsel was RCO Hawaii aka Northwest Trustee Services, Inc. which is a full-service trustee company providing default services to mortgage lenders in the Western United States, a powerful force not known for its fair play or legal ethics.
Of course, that’s not the first loan where a servicer has claimed itself as holder of the note that Mr. Dubin has located elsewhere actively trading in a trust – nor, it appears, is it the first such RCO foreclosure loan [questionably] representing the alleged holder. After his analyst was locked out of Bloomberg Terminal LFND, Mr. Dubin purchased the lease for Bloomberg Terminal for his offices. He too was recently frozen out of Bloomberg Terminal.
You see, if a loan is actively trading in the trust then it belongs to the Certificateholders… and in that case the court should demand an agreement or some document to establish that the Plaintiff before the court has standing to sue the homeowner – and if not – sayonara.
What do you think these banks have to hide? The fact that these loans have been paid? The fact that they bank on judges not knowing which end is up? Hey, if the loan is paid – it is paid, right? Lord knows, after they’ve put the homeowners through such stress, taken billion$ of dollars from the taxpayers to prop themselves up when they should have been arrested, surely the banks are not expected to allow research and discovery to get to the actual truth – on, my no!
Someday, maybe judges will realize that there are no funds in their mutual funds, that the stock market is severely over-leveraged and that it can’t keep this up for very much long – and then…and only then will they start interpreting and following the rule of law in order to make decent decisions.
Servicer Compliance Audits for Homeowners?
AS THE MORTGAGE MARKET INCREASES THE USE OF UPFRONT AUTOMATED AUDITS TO COMPLY AND PREPARE IN ADVANCE FOR UP-AND-COMING REGULATORY REQUIREMENTS, HOMEOWNERS ARE BEING OFFERED THE OPPORTUNITY TO REVIEW WHETHER LENDERS AND SERVICERS ARE UP TO THE TASK.
Federal Home Retention Services is offering a new set of automated tools that enable real estate professionals and property owners to investigate whether residential and commercial real estate transactions comply with certain multistate requirements.
The FHRS platform ensures that loans are clear of violations. It enables users to conduct specific mortgage loan compliance audits that help streamline mortgage loan modification inquiries and loss mitigation reviews.
Yet it does not serve only lenders and servicers that need to take action so they save time and avoid cost associated with failure to comply or litigation.
Until now the firm only conducted business-to-business dealings with lending institutions, federal banking associations, law firms, wholesale lenders & loss mitigation companies. Now consumers can benefit from mortgage compliance reports and audits of securitized mortgage loans.
Mortgage compliance failures may help homeowners to avoid foreclosure action in both nonjudicial and judicial foreclosure states giving them “a better position to negotiate” new loan terms or a loan settlement, said Phillip Michaels, CEO of FHRS and acting VP of compliance, “regardless of financial hardship and payment history.” Hence, he added, violations found in investigative compliance reports can provide crucial assistance to the borrower, as well as to legal advisors who want to specializes in loan modifications.
Click here for link to Gingo and Orth Law
If interested in a free home, send a short email – 200 words or less to EMAIL GEORGE******* gingo.george@gmail.com.
READ THE POST
FREE HOME
Yes, you read that right. We are going to give away a home located at 1135 Nova Terrace, Titusville, Florida 32796. The legal description is:
LOT 4, BLOCK 5, COUNTRY ESTATES UNIT ONE, ACCORDING TO PLAT RECORDED IN PLAT BOOK 18, PAGE 134, OF THE PUBLIC RECORDS OF BREVARD COUNTY, FLORIDA
The Real Property Parcel Identification Number is: 21-35-29-80-00005.0-0004.00
This is a beautiful home and it has a washer and dryer, new gas stove and refrigerator. It was exceptionally well taken care of by its owner. Anyone who wants this home must first qualify. To qualify, you have to convince us that you are in great need of a home (for example – you are homeless or about to be homeless and you have children; or other great hardship). We will reject you if you aren’t going to live in it, if you intend to rent it or part of it, if you won’t keep it in good repair, if you won’t put the utilities in your name and pay those utilities, or if you intend to parasitize the home. Anyone with a record of theft need not apply (we are lawyers and ex-cops and we will do a background check on you).
But of course, it’s not “free and clear”. Here’s the story – the owner tried to short sale this house. Regions Bank holds both the first and second mortgage. Regions refused to wipe out a deficiency, so we refused to allow it to go through a short sale. Regions Bank then filed a foreclosure on the home. We fought for the owner who only wanted to hand the home back to the bank. We offered the home to Regions Bank, but Regions Bank refused to take the home. We offered it to Fannie Mae, but Fannie Mae refused to take the home. Why we even offered it to the City of Titusville, but the City of Titusville refused to take the home. We filed a federal lawsuit against Regions Bank. The bank then dismissed the foreclosure case. The owner has moved out and left the home in our care. So the property is not in foreclosure at this time. There’s no one living in it. The only problem at this time with the home is that someone stole the air conditioner.
So if you would like a chance to live in this home and want to own it and all its contents, you would have to understand that at some point in time, Regions Bank or some other bank may sue to foreclose the liens. You may need a lawyer to help you fight that case and we may know someone who is skilled in that regard.
If interested in a free home, send a short email – 200 words or less to gingo.george@gmail.com.
t/y Matt & April! From:
http://mattweidnerlaw.com/blog/2012/09/bombshell-bombshell-bombshell-fdic-sues-the-big-banks-for-massive-securities-fraud/
It’s been a while since I’ve dropped a BOMBSHELL…. I’ve frankly been a bit per-occupied with several more important things.
But the documentation of the biggest crime spree ever perpetrated on a nation continues to be rolled out….and it continues to be ignored by EVERYONE IN THIS ENTIRE NATION!
I can only pound on the indictment of insurance fraud documented in the 49 State Attorney General Sellout. The press refuses to report on how we’ve all been sold out by the government that serves the banks…but I digress. No one cares about that anymore.
Let’s talk about the THREE SEPARATE NUCLEAR BOMBSHELLS OF FINANCIAL MASS DESTRUCTION.
http://mattweidnerlaw.com/blog/wp-content/uploads/2012/09/Complaint-2516.pdf
http://mattweidnerlaw.com/blog/wp-content/uploads/2012/09/Complaint-2517.pdf
http://mattweidnerlaw.com/blog/wp-content/uploads/2012/09/Complaint-2522.pdf
The FDIC, (that’s the Federal Deposit Insurance Corporation) just filed suit against the big banks alleging in very specific terms A MASSIVE SCHEME TO LIE, CHEAT, STEAL AND DEFRAUD. You’d think this kind of thing might warrant a story or two in the national press…but then again, they’ve got far more important things to report on. Well, don’t count on The Press to actually report on anything meaningful. anymore.
A big hat tip to my friend April Charney who pointed this out to me and much thanks to the Sarasota Council of Neighborhood Associations for inviting me to speak tonight…..anywhoo, just read the allegations in the complaints: (and then ask yourself why no mainstream media will report on any of this):
This is an action for damages caused by violation of the Texas Securities Act
(TSA) and the Securities Act of 1933 (1933 Act) by the defendants. As alleged in detail below,
defendants issued, underwrote, or sold eight securities known as “certificates,” which were
backed by collateral pools of residential mortgage loans. Guaranty Bank (Guaranty) paid
approximately $1.5 billion for the eight certificates. When they issued, underwrote, or sold the
certificates, the defendants made numerous statements of material fact about the certificates and,
in particular, about the credit quality of the mortgage loans that backed them. Many of those
statements were untrue. Moreover, the defendants omitted to state many material facts that were
necessary in order to make their statements not misleading. For example, the defendants made
untrue statements or omitted important information about such material facts as the loan-to-value
ratios of the mortgage loans, the extent to which appraisals of the properties that secured the
loans were performed in compliance with professional appraisal standards, the number of
borrowers who did not live in the houses that secured their loans (that is, the number of
properties that were not primary residences), and the extent to which the entities that made the
loans disregarded their own standards in doing so.
This is an action for damages caused by violation of the Texas Securities Act
(TSA) and the Securities Act of 1933 (1933 Act) by the defendants. As alleged in detail below,
defendants issued, underwrote, or sold eight securities known as “certificates,” which were
backed by collateral pools of residential mortgage loans. Guaranty Bank (Guaranty) paid
approximately $1.5 billion for the eight certificates. When they issued, underwrote, or sold the
certificates, the defendants made numerous statements of material fact about the certificates and,
in particular, about the credit quality of the mortgage loans that backed them. Many of those
statements were untrue. Moreover, the defendants omitted to state many material facts that were
necessary in order to make their statements not misleading. For example, the defendants made
untrue statements or omitted important information about such material facts as the loan-to-value
ratios of the mortgage loans, the extent to which appraisals of the properties that secured the
loans were performed in compliance with professional appraisal standards, the number of
borrowers who did not live in the houses that secured their loans (that is, the number of
properties that were not primary residences), and the extent to which the entities that made the
loans disregarded their own standards in doing so.
First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!
Huffington Post with details about the vote , and on Paul’s Democratic ally equally upset with the Fed’s lack of transparency, Rep. Dennis Kucinich (D-Ohio):
In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.
The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out.
Link
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Posted: September 2, 2012 in Uncategorized, stop GOVT waste, OUR Housing & Mortgage Crisis
Tags: Sub-Prime, Bailout, Securitization Fraud, MERS, FannieMae, AIG, Citigroup, BearStearns, EMC, JPMorganChase, BankofAmerica, Securitization, RESPA, TILA, HOEPA, UCC, MERS Fannie Mae, Freddie Mac, Lehman Brothers, Wells Fargo, Title Insurance, Mortgage, Note, Fannie Mae, Robo Signer, Congress, Federal Reserve, Credit Default Swaps, Derivatives, Foreclosure Crisis
Trust Agreements
Each of Fannie Mae’s Structured Transactions is created as a trust and is governed by a trust agreement. Trust agreements are the documents pursuant to which the Fannie Mae certificates are issued. The assets backing the certificates are held in the trust. Trust agreements outline the rights and responsibilities of Fannie Mae and of the mortgage certificateholders in relation to the trust. These agreements define the terms of each deal and describe how the deal will be executed and the deal’s parameters or limitations.
For certain REMICs and Structured Transactions, each trust is governed by a separate trust agreement relating solely to the particular transaction. For the remaining REMICs and Structured Transactions, each trust is governed by a master trust agreement together with a separate issue supplement relating solely to the particular transaction.
http://www.fanniemae.com/mbs/documents/remic/trustagreements/index.jhtml
AWESOME!!!
Here’s an article (see p. 7 here) that ran in the Gainesville Sun that talked about the recorded deed.
