Tuesday, July 9, 2013

CHASE, in the instant action, committed a fraud upon the Court by claiming to be the plaintiff. FANNIE MAE should have been the plaintiff as the owner of the note and mortgage

Do not miss reading this link concerning the court's proper identification of fraud on the court in a foreclosure case.


 I, regretfully, point out that the number of cases we have had where this should have been the position of the court are too numerous to count.  Facts clearly supporting this type of fraud, to this day despite all the news, are blatantly ignored by a lot of judges.

For the rest of us who are required to abide by the law, the underlying issue in the case is of no concern when it comes to the separate issue of fraud on the court.  For example, sure you may have the facts to win a case, but lying to the court is still actionable. 

With the banks, the "holder of the note" issue is the basis for dismissing most foreclosures yet the fraud on the court is allowed to persist

One has to wonder why the fraud is committed when courts eagerly dismiss cases the moment the original note appears.  Once counsel for the bank shows the original note the case will likely be dismissed, so why lie?  It is because the foreclosing entity is not truly the holder of the note, and explaining where the orig note was, and how it was obtained, is a road the banks do not want to go down.  Cross-examination of a sponsoring witness (something that rarely occurs, unfortunately - another difference between regular parties in court and banks when it comes to the admission of evidence) more often than not reveals that the foreclosing entity is/was, in fact, not the holder of the note - nonetheless the homeowner's challenge is still dismissed.

Monday, June 10, 2013

Oregon Supreme Court applies the LAW of agency to the legal claims of MERS!

In a rare opinion (as compared to the country) the Oregon Supreme Court does not seem impressed by those who created MERS (Fannie, Freddie, all the major banks) and actually applies the law of deeds of trusts and agency to MERS attempts to foreclose.

Sunday, May 5, 2013

Another "TBTF is still a problem" article

Daniel Tarullo: Too Big To Fail Still A Threat, More Capital Needed: via HuffPost http://huff.to/18B4E98

Friday, May 3, 2013

Director of FHFA removed under pressure from housing advocates

Housing Activists Convince Obama to Dump DeMar: via HuffPost http://www.huffingtonpost.com/peter-dreier/obama-demarco-housing_b_3198037.html

Wall Street is out of control

Jeffrey Sachs: Wall Street Case Shows 'Pathological System, Out Of Control': via HuffPost http://huff.to/10uWVUZ

Banks continue to break laws, settlement agreements, and mislead homeowners.

It's Business As Usual When It Comes to Foreclosure: via HuffPost http://huff.to/18tXVOb

Saturday, March 30, 2013

Monday, March 11, 2013

Above the law in so many ways

FDIC Secretly Settling Bank Cases For Years With 'No Press Release' Clause: Report: via HuffPost http://huff.to/ZuX6Qi

Tuesday, January 15, 2013

Foreclosure Review Insiders Portray Massive Failure, Doomed From The Start

The truth comes out, this time from insiders with the contractors who were performing the :independent review" of foreclosures.  Some tidbits from the article:

"We knew what we were looking at," said one employee. "But we were told under threat of losing our jobs to not report what we saw."

"By the time the reviews were halted, the banks had paid the consultants they hired more than $1.5 billion."  Too bad that money was never considered for helping families ......

"A consultant at Deloitte, hired by JPMorgan Chase to review its loan files, said that his team simply didn't understand many of the bank's processes, and weren't permitted to ask. "It was like trying to read a book written in a foreign language," he said of initial attempts to audit the bank's loans."

"All the while, this Deloitte employee said, regulators were pressuring the auditors to hurry up -- pressure that trickled down to floor-level reviewers. "Just hold your nose and click submit," he said one manager told him."

"When news broke that a new settlement to replace the reviews was in the works, the Republican Chairman and Democratic Ranking Member of the House Oversight Committee sent a letter to regulators asking for a meeting to clarify exactly what was going on. Those institutions essentially ignored the lawmakers and, even after they made the official announcement, refused to tell the congressmen exactly what had happened in any detail. “The OCC and the Federal Reserve Board have terminated the independent foreclosure review process without providing any explanation of why or how the process was too costly and time-consuming to be continued,” Rep. Elijah Cummings (D-Md.) said in a statement. “Even more troubling, the agencies seem unable to provide any details regarding the process by which compensation will be provided to borrowers who have suffered harm."

"It became pretty apparent that the whole project was a facade," said one reviewer, whose job it was to look for improper fees tacked onto borrower accounts.

The reviewer said she found some kind of bogus fee in every file she looked at, ranging from a few dollars to a few thousand dollars. Another who looked for errors that violated state statutes estimated that 30 to 40 percent of loan files contained mistakes. These reviewers said they wanted their work to count for something. Last Monday, around 10 a.m., these same contract employees were told to stop what they were doing and leave the building. "Pencils down," one said he was told.

Tuesday, January 8, 2013

Monday, January 7, 2013

Taibbi once again peeling away the propaganda about the Bailouts.

Secrets and Lies of the Bailout

The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come


Contempt of Court: U.S. Bank President Rejects Court Order to Appear

Again, if you or I do what the banks do, we would be in jail.

Maybe this judge is going to do things a bit differently .....


Surprise, Surprise: The Banks Win - New Settlement Avoids "Independent" Foreclosure Review

As if it were truly independent, the foreclosure reviews are apparently now off the table.

As the author, Gretchen Morgenson notes, the banks win , again.