Tag Archives: securitization

SURVIVING FORECLOSURE

Op-Ed … 

One of the greatest achievements in life is being able to own a home.  It’s an outward sign of wealth building.  It’s one of the biggest financial commitments that a person can make, not necessarily one they should make.

The banking industry in America continues to survive despite all of the scandal that continues to plague them.  Many folks survived the economic fiasco of 2008 because the entire economy was not affected.  When only a marginal number of homeowners are affected, seemingly, the rest of the country simply falls asleep, chalking up the massive foreclosure market as a “numbers game”.  Investors came out of the woodwork, thinking they were getting a great deal, when in fact, 99% of all of the foreclosure actions conducted in this country are illegal.

The reason these foreclosures are illegal can be summed up in one word: securitization.

Most people that signed on to mortgage loans between 2003 and 2008 had no idea that they were going to be victimized by an entity called Mortgage Electronic Registration Systems, Inc. and its parent, now known as MERSCORP Holdings, Inc.  It has been communicated to me by numerous attorneys that the MERS® System was created specifically for the purposes of online digital transfers of promissory notes within the secondary mortgage market and that any claim by MERS that it has any part of “title” to your property is superfluous folly.  MERS and its parent have continuously fought that in courts across America.  It is impossible to see why a court system would give a for-profit private entity that is not in the business of lending money beneficial status.  Some states have figured that flaw out, too late to avoid creating conflicting case law.  If the states wanted to be smart about it, they would do what Oregon counties are doing, patterning their suits after Multnomah County’s case, which resulted in a $9-million settlement, something unheard of, unless you want to keep MERS and its hierarchy out of prison.  In my book, criminal RICO is afoot here and MERS has provided the platform for that to occur in the form of servicer fraud.  Servicer’s employees are allowed to robosign and backdate assignments, falsify authority and manufacture standing for lender’s who are not “the boss of the note” which is what, largely in part, makes these 99% of the foreclosures illegal.

On the backside of this equation, homeowners who are unwilling to challenge the beast are fleeing their homes in record numbers and the shadow inventory still continues to plague the real estate market.

But what of the homeowners?

As I have stated on this blog before (in previous posts), 75% of those being served with foreclosure notices vacate their properties within thirty (30) days of notice.  The other 20% of those vacate their homes after being made aware an issuance of a final judgment of foreclosure or notice of a sale date.  The 95% was ill prepared to retain counsel to even challenge their foreclosure and the greater majority never even showed up to court to contest their foreclosure (in mortgage states).  The banks know this.  It’s a numbers game.  The banks are at a financial advantage because they’ve made all their money off of interest earned (as do the servicers with all of their fees added into the mix) and the banks have a legal fund to fight with.  Bank of America is estimated to spend roughly $2-billion annually in legal fees, most of which goes to fighting homeowners just like you and I in court.  Whether or not Bank of America can actually prove it has standing to foreclose depends on how many assignments their servicing unit manufactures, because that’s exactly what they do when there’s a default (someone stops making their mortgage payments).

Of the 5% of the remaining homeowners, 3-4% of them duke it out in court.  The other 1-2% take “cash for keys” or negotiate a loan modification, albeit the party negotiating with them probably doesn’t have the right to enter into a loan modification agreement at all.  I would estimate that roughly less than 1/2-percent actually succeed in getting a loan mod at all.  Most of the major banks, who are monitoring and servicing their alleged secondary market REMICs, who have no skin in the game, would rather have your house than put up with giving you a loan mod.

Contrary to what the banks and the media would have you believe, only about 1% of the 95% of homeowners end up actually “homeless”.  Living in your vehicle also constitutes as being “homeless”, about as much as living in a tent city, illegally living in a storage unit or under a bridge or on a sidewalk.  These 1% are seen on street corners panhandling for money.  Surprisingly, there are also racketeers that panhandle to make their mortgage payments (or go party on their gains, which in my book is totally dishonest).  It’s hard to tell who’s who because they all dress the part and carry cardboard signs.

The other 94% are either living with family members or have become substandard renters while they attempt to regroup.  If bankruptcy was utilized to “buy time”, a negative credit score of about 450 points will tank the debtor’s ability to recover for at least 3 years.  My problem with helping out many of these homeowners in “short sale” position is that I am suspicious of the bank’s real interest in the property.  If I look in the county land records, what am I going to find?   No matter.   Short sales are preludes to foreclosures.   If I see a spate of short sales in any given market, foreclosures are about 90 days behind them.  Remember, the bank would rather have your house.  They have no skin in the game and the longer they stay “in the game”, the more potential there is to discover their misdeeds.  Their mission is to cash out and this is what has made them rich.

I have been getting numerous texts and emails from folks who have told me what they have done to survive a foreclosure.  Unlike me, who had a rental property I could move into when I did a strategic default on my primary residence in 2003 (and later sold it for a handsome profit, which turned into a scheme that made me mortgage free), most homeowners have no “end game”.   They made no plans. Most made no plans because they live from paycheck to paycheck.   I heard one investor say, “Working hard builds character.”  Well, that may be true but if there’s more month at the end of the money, character has no place in contingency planning.  People will do amazing things.

I beg to hear of your story on this post, as it will give inspiration to others who are faced with similar plights.  Please comment. 

I have also heard that people have utilized an outbuilding or barn, moved it onto a piece of vacant land (either one they owned or owner financed) and built a house out of it.  It’s primitive, but at least it’s a roof over your head.  So are mobile homes, if you can find them cheap enough.   I lived in one for 4 years and fixed it up so it didn’t even look like a mobile home inside.  I made a handsome profit selling it when I made my next move.  I am one of those that is not complacent.  No matter what happens, I am resolved and determined to bounce back.  I paid off the mobile home in one year and invested about $4500 fixing it up over time.  The owner of the land I bought was happy when I sold it because he got paid in full when he was facing a family medical crisis and needed the funds badly; so it was a “helping hand” to him.  At least I had clear title.

This is a problem for many homeowners because fighting a foreclosure means proving the title is jacked up.  This is no fun when you don’t know what you’re looking for.  This is why many homeowners don’t do what you’re doing and subscribe to this blog and do research into chain of title.  If everyone in America did the kind of research you and I do, we wouldn’t be in this mess in the first place.  This country’s economy would have bounced back on its own and we wouldn’t be depending on politicians to fix it for us.

We are in an upturn real estate market (in most of America) and this begs for opportunity.  I always like real estate investing because it means creating wealth through equity positioning.  If you are NOT in a position to give up, it would be better to rebound into another investment property as soon as possible, even if it’s owner financed.  This is why (in the book Clouded Titles) I talk about having garage sales and liquidating stuff on Craigslist and places like that, because “lightening the load” affords opportunity when downsizing.  This is part of the end game plan for most folks.  You may have some other ideas, which I welcome here, because I want to know what you did to survive a foreclosure.  So do my other readers.  Despite the setbacks you faced, try to have a happy holiday season.

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Filed under Financial Education, Op-Ed Piece

AND THE WINNER IS …

BREAKING NEWS — (with a little Op-Ed thrown in for good measure) … 

Those bumbling “talking heads” … 

The “talking heads” of all the major media networks were tripping all over themselves (during election night coverage) trying to “save face” for the “talking down” on one candidate in favor of another.

No matter.  If I was president, I would make sure that every media mouth was accounted for and access to the White House would be a major “hoop jumping” to get a media credential. Our U.S. media cannot be trusted with reporting the truth.  Our U.S. media likes to “invent” news (or hadn’t you noticed?) instead of really investigating and reporting the truth (and not as they see it), the whole truth and nothing but the truth.  The outcome of the election clearly left the media machine speechless, faltering on-mic for comment in an attempt to backpedal on their foolish pre-election hoopla. I shut the TV off at 2:15 a.m. and decided to wait for the early morning voting results to filter in.

Clearly however, I think both conservative and moderate American taxpayers have risen up and seriously spoken in favor of change away from the “status quo”.  That “status quo” includes Wall Street control of this country.  However, other changes that manifested themselves last night were overshadowed by a surprising upset by The Donald.  We now have a House and Senate that have a Republican majority under a Republican President.  As I said earlier, regarding the lesser of two evils, many of the facets of the Old School System are still in place, including the banking cartels and their influence in Congress.  The only thing that can make a difference is a presidential veto when the laws coming forward are clearly wrong.  Sadly, the “rank and file” are still in position to make pro-bank laws, in conflict with what the majority of the American people plainly stated in their popular vote. Until the American taxpayers actually make a change in the way they do business, the rank and file will continue to make their lives miserable.  Also keep in mind that the socialist vote (those who voted for Hillary) still went to the polls and voted for socialism.  They will still be a force to be reckoned with in the shallowed halls of Congress.

The voice of the people was heard in Osceola County, Florida! 

One thing is for sure however … Armando Ramirez was re-elected as the Clerk of the Circuit Court for Osceola County, Florida by well more than a slim margin, despite the rantings of the media about conducting a Forensic Examination of his official real property and court records.

050113_armandoramirez osceola-clerk-tally

In many ways, I feel mildly vindicated, as I authored that 758-page Report.  I too came under personal attack from the Orlando Smutinel and other rags and media outlets for something that happened to me over 20 years ago.  I believe that the people have faith in Mr. Ramirez and his poll numbers demonstrated this.  It also says a lot for the numbers that have read the Report and have come to understand the real truth of the matter regarding their mortgage foreclosures.  The bottom line here is that no matter whether you’re a Democrat or a Republican, the voters love you if you do the right thing!  I believe Armando Ramirez stood up to public and political pressure from the corrupt Florida elitists and the local media and told his constituents: I hear you loud and clear!  There is a problem with the land records!  You don’t win elections unless the voters agree with you and it appears that the Osceola County rank and file don’t want to hear the truth … but the people who are affected do!

Mr. Ramirez’s devoted and loving wife Millie also held onto her position on the Soil and Water Board, Seat 4 – Osceola.  Congratulations to them both as they will wholeheartedly serve their constituents for another four years.  And I have a feeling the backlash from the Osceola County Forensic Examination is not over yet. From the looks of the voting results in both of their races, it appears the silent majority included both Democrats and Republicans who believe in the Ramirez’s.  The politically-influenced (by the rank and file) voted against them to no avail.  As Mr. Ramirez stated in the campaign:  “Let Justice flow like a stream, and righteousness like a river that never goes dry.” Amos 5:24

Speaking of “Justice” in Osceola County, Florida, Russell Gibson (D) was elected as the new Sheriff, replacing the outgoing Robert Hansel, who is leaving office amidst the scandal surrounding the investigation of the results (or the lack thereof) contained in the Report; and in retaliation of having to conduct an investigation with deputies tasering an innocent stepson of one of the examiners of the Report.  Mr. Gibson would do well to watch out for those around him (currently in positions within the Sheriff’s Department). It is rumored that Gibson may keep the “rank and file” that investigated the Report in place; in fact, even promoting them.  This would be a mistake if this rumor is found to be true. These “people” demonstrated by their response to the Report, on Hansel’s behalf, that they know Osceola County, Florida may have illegally evicted thousands of homeowners based on fraudulent documents recorded in the Osceola County real property records and then relied upon in court by servicers and their attorneys, who are suspect of committing perjury on the courts, among other things.  The civil liability for these “errors” would be into the billions and they know it.  That’s why Sgt. Toby Hawkins told Al West, the attorney who was present in the February 9, 2015 meeting to “shut up” when Mr. West asked him about potential exposure (meaning civil liability).  Let’s face it folks … filing fraudulent documents is a felony in Florida and no one seems to want to enforce it, for now.

On the other side of the coin, Aramis Ayala ran unopposed and was elected as Florida’s 9th Circuit States Attorney.  Mr. Ramirez has already spoken to her about re-opening the investigation into the allegations made into the Report.  I’m sure Ms. Ayala will not make the same mistake that her predecessor, Jeff Ashton, did.  Oh wait, he was too busy playing around on AshleyMadison.com to investigate the contents of the Report, right?  I maintain that the felonies that were discovered and reported in the Forensic Examination can be found to be continually occurring to this date.  I can come up with a whole new set of allegations if I changed the dates on the search engines in the county land records from June 1, 2014 to June 1, 2016.  I’d find the same suspect fraudulent recordings that would carry with them all sort of felony charges.  It is about time Wall Street and all of the players below it that are assisting in the facilitation of servicer fraud get their just desserts. I still want my time in front of the 9th Circuit Grand Jury.

I’m sorry folks … but the Osceola County Sheriff’s Department is NOT going to get away with their feeble investigative denials.  As the incoming politician, Mr. Gibson should take note.  Any subsequent investigation will probably be taken out of his hands anyway, because the rank and file subordination catering to his office: (a.) think that securitization is like an annuity; and (b.) don’t believe in investigating crimes that could point a finger back at them.  Admitting responsibility for error is simply something that one in power does NOT do.  This is what has divided America and this is what the voters in the majority have soundly made heard by putting a CEO in the White House instead of a Wall Street lapdog. Congress needs to wake up and realize this.  Ms. Ayala’s office is going to have to take the “bull by the horns” and wrestle it to the ground on its own.

On paper, the winner may have been Donald J. Trump.  But the next four years, with the rank and file still in positions of power in Congress, will still be “hell”, only now it will be “hell on steroids” with Republicans holding a majority in both the House and Senate.

The only saving grace is those who are exiting the current administration that were self-serving (or serving a socialist political agenda) … here’s a message from The Donald: YOU’RE FIRED!

Dave Krieger is the author of the books Clouded Titles, The Credit Restoration Primer and The Quiet Title War Manual, all available at CloudedTitles.com

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Filed under Breaking News, Op-Ed Piece

TITLE IS TITLE, NOTE IS NOTE … BANKS CAN’T EVEN GET IT RIGHT!

Op-Ed!

I do not know what the law schools are teaching regarding real property law, but here is an atypical case where one alleged lender used a quiet title action to prove a mortgage loan existed on a piece of property and a Maine Superior Court Judge chimed in … loud and clear … “what the hell were you people thinking?”

In the case of U.S. Bank, N.A., as Trustee for LSF8 Master Participation Trust v. Decision One Mortgage Company, LLC, (Superior Court, CV-15-65)(July 26, 2016), the Plaintiff (U.S. Bank) claimed it owned a note and mortgage, claiming the Defendant (Decision One), the originating lender on the note, was defunct and could not collect on the note.

The problem I have is, U.S. Bank didn’t get it right in Ibanez and they sure didn’t get it right here.  I mean, seriously, folks, using a quiet title action to prove up a note?  Seriously?  Someone either fell asleep in property law class or someone just is plain stupid in their legal analysis of this subject matter.

I have been trying to drum it into people’s heads that a quiet title action (when coupled with a request for declaratory relief) is used to determine who has superior title to any given piece of property … NOT to determine who owns the note with the right to enforce the terms of a mortgage.

Simply put … the court agreed with my teachings … not U. S. Bank’s attorneys!  It is sad that my consulting is now limited to attorneys litigating quiet title and will not be available (unless you read The Quiet Title War Manual) to the general public.

A quiet title action, as Al West and I so succinctly put it in the foregoing 512-page educational manual, is an action whereby you put forth a claim that you have superior title and request that the court determine the rights and interests of the parties as to “title”.  A note is an obligation created at the closing table and is not recorded in the public records, whereas “title” is recorded, by virtue of a deed.  The deed is your proof of ownership.

MERS, Securitization and Quiet Title

I don’t see MERS anywhere on anyone’s “deeds”, yet MERS thinks they have “legal title” to everything contained within a MERS-originated mortgage.  This is one of the reasons I keep telling people to “say NO! to MERS mortgages”.  Once you let this parasite in, you’ve just exacted hell upon yourself in unwanted legal fees, because the intent of the founders of MERS (Fannie Mae, Freddie Mac and the banks) was to securitize your mortgage note (turn it into a security on Wall Street) and pander it to every ignorant investor who thinks that investing in securities is a “smart thing” to do.  I see nothing wrong with getting up and walking out of a closing where you are presented with MERS-related paperwork.  After all, by the time you get to the closing table, your note has probably already been sold at least nine times, WITHOUT YOUR SIGNATURE ON IT!  This is the big lie folks!

Say NO! to MERS!

If you think that your signature on a mortgage note is the start of the sale of the terms and conditions put forth under Paragraph 19 or 20 (depending on which long-form mortgage document you are signing), think again.  It doesn’t say WHEN the Lender may sell your note (or a partial interest thereof), as long as the Lender has your Form 1003 Loan Application.  When your loan application is submitted, it gets pandered all over Wall Street, along with your personal identifying information, in addition to being inputted into the MERS® System electronic database.  You make it all literally “legal” when you sign the mortgage and note.  But what if you didn’t?

What if you “woke up” and realized the MERS-originated Mortgage was a scam to steal your personal identifying information (your payment history, your credit scores and your personal information, e.g. social security number, date of birth … all the things these would-be thieves use to steal your identity) and you said NO! and got up and walked out of a closing?  What could the Lender do?

The REMIC trust rules allow for “qualified loans” to be substituted up to 90 days AFTER the trust closes, so that would be construed to mean that some other dumb sucker’s loan (who didn’t wake up like you did) would be put into the place occupied by your loan.  The REMIC itself contains a list of loan numbers (yet to be assigned, until you sign the paperwork) and these loan numbers mean nothing without “legal backing” behind them.

If MERS is shown on your paperwork (solely as a nominee), this failure of a beta business model will attempt to outsource and outspend you and cause you serious health problems (because of what it does to your chain of title) … and by the time all this happens, your title is too late to fix because no one knows who owns what … except that the title to the property is in YOUR NAME!   That is the for sure thing.

In the foregoing case, neither U.S. Bank nor Decision One was “on title”.  The homeowner’s name was on title. I didn’t see him filing the quiet title action, probably because of ignorance.  This is the fallacy being played upon the American public by the banks and it appears the banks themselves are drinking their own kool-aid.

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Filed under Op-Ed Piece, Quiet Title Education

FORENSIC COUNTERMEASURES

(Op-Ed, Financial Education) — The poster of this blog is not an attorney and the information portrayed here is for educational purposes only and should not be construed as legal advice. Kudos to Washington State attorney Scott Stafne for posting this where I could obtain a copy of it in my travails in research!

The title of this post reflects what I’m about to share with you, which you should read at least twice over before making any assessments in your case.

Most folks do not realize that when the proverbial “ca-ca hits the fan” that these types of countermeasures may be necessary to defeat the “other side’s” claim to note ownership.  In an attempt to show that the title documents (the assignments in the land records) do not match the chain of custody of the note, one may have to go a step further in evaluating the legitimacy of the note. It is implied here that once the loans were electronically uploaded into the MERS® System, they were shredded because they were trading on the secondary markets electronically and their original versions weren’t needed anymore.

Anyone reading this post should understand the following:

(1) It is safe to assume that prior to closing your loan, your loan could have been sold as many as NINE TIMES (or more in some cases)!  This means that your originating lender, who many times is just a corresponding lender (5% of their own money into the “game”) was paid off BEFORE the closing actually occurred, which would appear to indicate that the document (the mortgage or deed of trust) on its face is false because it does not state that the lender was paid in full prior to closing.  It only shows where your loan originated.

(2) It is also safe to assume that some investor funded your loan and you don’t have any idea who that investor might be because everything is hidden from you!  Regardless of that fact, the issue remains that the banks will falsely assert that you have no right to determine WHO was involved on the “other end” of the financing spectrum, even though there is convincing research that shows the borrower is actually a party to the securitization process because without their monthly payments, the securitization chain would break (massive defaults in any given tranche within the REMIC after 90 days), the REMIC’s sponsor (who already made side bets that your loan would fail) would cash in on the credit default swaps it placed, plus the default and title insurance policies it took out, which would appear to indicate it was paid in full, and then some, for your loan, yet did not apply any of the proceeds to it, but rather went to the strip club and indulged in some blow, booze and hookers, including all those “friends of Angelo”!

(3)  The reason lenders use the “MERS® System” is because they intended on securitizing your loan and the actual process started when you submitted your Form 1003 loan application! The title documents in your “chain of title” will reflect something totally different than what actually happened on Wall Street (the secondary markets).  Many attorneys and researchers I work with surmise that it was at this point (when the MERS® System was utilized), that parties whom you did not authorize to have your personal identifying information were involved in an apparent massive conspiracy to commit identity theft against you by farming your information out to “the system”, where every subscriber has access to your information, whether you gave permission or not for them to have it!

(4) The banking cartels play by numbers and they know that very few of those getting subprime loans have the resources to wage a legal battle in the court system! This is one of the reasons why they “got out ahead of it” when it came to setting case law involving shutting down the “back end defenses” to securitization, which are now the subject of much litigation in the “sand states”, especially Florida and California.  Anyone reading the Glaski or Saldivar cases can certainly understand where this poster is going with this. These are standing cases!  California homeowners have been getting repeatedly screwed over with non-judicial foreclosures committed by servicers and alleged substitute trustees who (if legally bound to do so) could NOT prove they have any real interest (financial or otherwise) in your property.

(5) Forensic countermeasures may be more relevant if Fannie Mae or Freddie Mac claim to own your loan! Many forensic analysts have told me that once Fannie or Freddie (who I believe were involved in the setting up of the MERS® System to hide their own misdeeds) have your loan, utilizing these types of strategies may be the only means of “shutting down” their claim of note ownership!  In of itself, undated indorsements have also become a major part of the appellants arguments in homeowner-won foreclosure cases, as the other side can’t prove “effective date of transfer” of the note.

It is for this reason that I found that the following document may be necessary to consider when planning your litigation strategy: FORENSIC EXAMINATION OF NOTE

Keep in mind that 85% of all property owners who found themselves facing foreclosure packed up and moved, leaving their home vacant.  This violates their mortgage or deed of trust, based on the fact that they warranted they would live in the property.  It also warrants the issuance of an IRS Form 1099-A, which represents abandonment, as much as this poster still regards the illegality of that in of itself!

The remaining 15% of those property owners who did stand up to the banks dwindled the more they were challenged.  Ten (10%) per cent more of them gave up due to running out of funds and/0r the fundamental fortitude to defend their property once the proceedings either started or were challenged in the courts (including non-judicial proceedings that went judicial when the property owners filed suit to stop the foreclosure).  The remaining five (5%) per cent of all homeowners either have been beat down or are still fighting a war that has placed them in a condition of financial suppression, all by design.

These forensic countermeasures cost money.  This poster has other avenues of approach regarding research into the loan itself, even though he specializes in chain of title and quiet title research.

This is one of the reasons that this poster is working on a new book, which he believes to be fundamentally necessary in educating homeowners on how litigation strategies have shifted towards FDCPA-type filings as a means to build a “war chest” to fight the banks.  This book is taking more time than thought because of the voluminous content of case law but is anticipated to be out before year’s end.  There is more to the entire securitization scheme once “fraud on the court” issues become present!

In the meantime, it becomes necessary to plan your litigation strategy if you intend on staying in your home with the intent to “fight the monster” because the judges across America are convinced that their retirement accounts will be jeopardized if they rule in your favor, which I believe is far from the truth.  The foregoing “forensic countermeasure” is just one avenue you may wish to consider.

If I didn’t care about you and your situation, I wouldn’t be posting these types of articles! 

And the truth shall set you free … God’s speed!

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Filed under Chain of Title Education, Financial Education, Op-Ed Piece

BLOOMBERG, LIVING IN A DREAM WORLD!

(Op-Ed Piece) — The opinions expressed are those of this poster and do not constitute legal advice nor seek to render a conclusion of law.

Drinking some real serious Kool-Aid!

I don’t know if you read the most recent article issued by Bloomberg’s Matt Scully (April 25, 2016) but after reading it, I’d say there are some real serious doubts about its credibility given the nature of the circumstances expressed in the article: America Is Finally Putting Home Foreclosure Crisis Behind It – Bloomberg

Maybe if Mr. Scully was in foreclosure, he wouldn’t be so quick with his statistics.  This article paints a rather slighted posturing of an uptick in the U. S. economy given the continuing numbers of afflicted by foreclosure proceedings.  In other words, none of this appears to matter to Bloomberg and most American homeowners, unless you’re either one of the 631,000 homeowners about to be foreclosed on or you’re facing foreclosure.

I cannot trust anything Black Knight Financial Services says because they chameleoned out of Lender Processing Services, Inc., which found itself in the crosshairs of the feds when one of its so-called “subsidiaries, DOCX (which it quickly spun off after realizing that its document manufacturing plant was about to get skewered) was found to have illicitly manufactured assignments of mortgage and assignments of deeds of trust.  As you probably already know, DOCX’s President, Lorraine Brown, is a guest at Club Fed.

A “Clean Slate”?  Seriously????

In my book, no one is getting back to a “clean slate” when I repeatedly see the same crap being initiated by the banks, their foreclosure mill law firms and their accompanying document manufacturing plants.  The U. S. DOJ appears to be doing nothing about it.  Since it’s obvious that you can get anyone to say anything about the condition of the economy, so long as it fits in with the scheme of your article, then statistically, you can use whatever tainted opinions to get whatever results you want to achieve.  You give me 10 Wall Street analyst opinions that the economy is back to normal, I’ll visit 10 bridge overpasses in every major metropolitan city in America and show you that things are far from normal!

Wells Fargo Dumping Robosigners????

The second part of the Scully article seems to pair with the first part in that now that the so-called foreclosure crisis is “ending”, Wells Fargo is cutting its staff.  The question remains however is, what staff?  None of this “staff” have been specifically identified, but when you look at the cities affected, especially Charlotte, North Carolina and Fort Mill, South Carolina (the document plants?), one would not be surprised to find that some of the “staff” being eliminated are those responsible for fabricating documents used to foreclose on homeowners.

New Home Sales Showing Monthly Declines????

I don’t know if you’ve been keeping track of the fracas around the country, but the credit markets have tightened in response to civil attacks on the lenders by the DOJ and the CFPB.  One thing we do know for sure, securitization is still alive and well on Wall Street.  Builders and developers however are having a tougher time getting credit to build new homes because borrowers are being declined mortgage loans because market conditions still have yet to improve with the shadow inventory still looming into the tens of thousands of homes that currently sit empty.

CAVEAT EMPTOR: Beware of REO Auctions!

Recently in Florida, a prospective REO auction in Southwest Florida netted some 30 bidders.  As expected, the highest bidder was awarded the home.  However, when it came time to close, the title company discovered that Select Portfolio Servicing, LP, who claimed to own the note and mortgage on the home, actually DID NOT own the home it claimed it sold! What does that tell you about the mysteries of chains of title.  How could you quiet a title to a property you don’t own?   Al West and I teach you about that in the Quiet Title Workshops we are hosting all over the country.  The next one is in Chicago on May 28-29, 2016.  Get more details here!

The Aftermath of the Foreclosure Conundrum

Every time that I look through a file on a foreclosed home, the first thing I focus on is the chain of title to the affected property. I’m specifically looking for assignments of mortgage or deed of trust.  That will tell me, based on what is on the face of the document, what potential issues the property might face in clearing title.  When I see that the law firm doing the foreclosing actually created the document using its own employees, I immediately think multiple felonies.

However, let’s not confuse the civil and criminal realms here.  Let’s just focus on the civil realm.  If title is still in your name, wouldn’t it make logical sense that you still had superior title to the property?   Even post-foreclosure cases can be resurrected and overturned.  The problem is, again, most homeowners don’t have the money to fight to “regain custody” of their property.  To those 631,000 property owners that Bloomberg claims are tied up in this “knot of a legal snafu”, I’d make a safe bet in stating that document manufacturing of an illicit nature is still the main concern on EACH AND EVERY property involved in these potential foreclosures.

The banks still shredded the notes and mortgages after they were uploaded into the MERS® System!  That means, when a borrower doesn’t make their payments for 90 days, someone, namely the REMIC trust, still gets paid, multiple times over.  So has the REMIC trust been injured?   I wouldn’t think so.  Then why are they the ones bringing the action?

I would wager that that law firms and the servicers are acting outside of the REMIC, without the REMIC’s knowledge!

The law firms and servicers are working in concert with each other to steal the home using phony documents that both have a hand in creating.  When you focus on the litigation itself, you find affidavits tendered by someone inside the servicer, not the REMIC!  What should that tell you?  That the REMIC isn’t involved!  Why would it need to be if it’s been paid off by credit default swap payments, FDIC settlement payments, default insurance payments and title insurance payments?   That means that the REMIC’s investors, some of whom may be retirement plans that your very state judges are collecting residual payments from, really aren’t hurting, are they?  In fact, the REMICs have probably reinvested a lot of that money to keep the income streaming flowing into the judges’ retirement funds!   Talk about conflict of interest, eh?

Meanwhile, down below in the courts of hell, I suspect that the servicers and law firms are splitting the booty (your home; not to mention MERS with its hands out in many cases).  None of these entities have any right to anything … but they use phony documents to do their talking and the judges just keep listening.  This is why I developed the Chain of Title Assessment (COTA) Workshops.  The next workshop is June 3-5, 2016 in New York (first time there).  This is the only planned Workshop for 2016 and seating is limited. For more information, click here!

“My people perish for lack of knowledge!”

Don’t let these educational opportunities pass you by!

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Filed under Breaking News, Chain of Title Education, Op-Ed Piece, Quiet Title Education