AIG, Bailout, BankofAmerica, Bear Stearns, Citigroup, Collapse, Congress, Derivatives, EMC, Fannie Mae, Federal Reserve, Foreclosure Crisis, Fraud, Freddie Mac, HOEPA, JP Morgan Chase, LehmanBrothers, MERS, MERS Fannie Mae, Mortgage, Note, RESPA, Robo Signer, Securitization Fraud, Sub-Prime, TitleInsurance, UCC, Wells Fargo
IT’S TRUE: THE WHOLE THING WAS A FRAUD: THE MORTGAGES ARE INVALID
Reports are pouring in that layoffs in the foreclosure mills are pandemic. With the finding by a U.S. Trustee in BKR court that LPS engaged in a systematic pattern of fraud and forgeries, thus explaining the dockets on which multiple “banks” represented that they had the original notes and were entitled to enforce them (and they DID have what appeared to be original notes), lawyers in those firms are running for cover and the ones who can’t find other employment are getting pink slips anyway.
Fannie Mae and Freddie Mac have ordered all ties be cut with Stern’s law firm and now the Katz firm, with Shapiro and Fishman not far behind.
Lawyers are reporting in judicial states that cases set for trial in the next few days are being dismissed with acknowledgment from the other side that they “cannot prevail on the merits.” They are dismissing at trial in an effort to avoid the imposition of attorney fees. Aggressive attorneys should be able to apply various statutes and theories to hold the lawyers and their clients in contempt or at least recover the cost of legal representation — not to speak of the homeowner who has just received the keys to the door of his own house, upon which he can now file a quiet title action.