About Deadly Clear

This blog site is for you - to make your opinions known and enable you to express your thoughts, insights, fears and be DEADLY CLEAR. The author of the blog has become more compassionate and socially enlightened with age after entering this world from a very brainwashed right-winged culture. My goal is to achieve perfection and share in Ho'oponopono which means to make things right.

Countrywide’s CEO Mozilo speaks: “We didn’t do anything wrong”

Deadly Clear:

Nahhh…Countrywide didn’t have their own appaisers come into markets and inflate appraisals. Underwriters just assumed 1960 block homes were worth $600,000. Just “FUND ‘EM”!

Originally posted on Justice League:

Now that is the joke of the day…

 

Six years after the financial crisis and the government is still seeking justice for the financial pain and meltdown of America’s economy.  

But according to an article in Bloomberg, the Countrywide CEO Angelo Mozilo, seen as one of the main culprits behind the subprime crisis and speaking in a rare interview, is baffled by a new effort to punish him.

Remorse for heading a company that made so many bad loans? Not a chance.

Instead, Mozilo said he is proud of his past triumphs and it his critics who are misguided:

“You’ll have to ask those people, ‘What do you have against Mozilo, what did he do?’” Countrywide Financial co-founder Angelo Mozilo said.  “Countrywide didn’t change. I didn’t change. The world changed.”

“No, no, no, we didn’t do anything wrong,” he said, adding that a real estate collapse was…

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Foreclosures prompt lawsuits against debt collectors in N.J.

Deadly Clear:

Where are the other 49 states? Join Homeowners SuperPAC on Facebook and lets start asking the questions to our state governments.

Originally posted on Justice League:

Seven years after the meltdown of the subprime mortgage market, New Jersey continues to be a hotbed of home repossessions by lenders, resulting in reams of foreclosure-fraud and improper-debt-collection complaints that mainly target intermediaries known as mortgage servicers.

Fort Lee homeowner Eun Ju Song, who was notified last year that he was in default on his loan and is facing foreclosure, claims mortgage companies botched transfers of ownership rights to the mortgage he signed in 2006 and forged documents to try to fix the problem. In a federal lawsuit filed in Newark in May against Bank of America and the mortgage servicer Green Tree Servicing, he claimed that they haven’t shown they have any legal right to collect.

“With no properly recorded owner of the plaintiff’s mortgage, there is no one or entity entitled to enforce the conditions of the mortgage obligation,” the complaint says.

Jerry K. Wong of Clifton…

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A.G. Schneiderman Sues Long Island & Florida Companies For Defrauding Homeowners In Mortgage Rescue Scheme

Court Issues Restraining Order Against Firms As Lawsuit Seeks Restitution For Consumers

AG NY SchneidermanNEW YORK – Attorney General Eric T. Schneiderman today filed a lawsuit in New York County Supreme Court against four interrelated companies and their principals for operating a fraudulent loan modification scam. The lawsuits were filed against Home Affordable Direct, Inc. (Farmingdale, NY), Home Affordable Solutions, Inc. (Farmingdale, NY), JR Holding Group Corp (Babylon, NY), Clear Solutions and Settlements, Inc. (Tampa, FL) and their principals, Javier Gutierrez and Shadi Soumekh.  The companies and their principals are alleged to prey upon financially vulnerable consumers by claiming they can provide substantial relief from unaffordable mortgage payments through loan modifications and other forms of foreclosure prevention.

Continue reading

Bank of New York Mellon : Argentina to appeal U.S. judge’s order on bond payment

Deadly Clear:

Oh, what a wicked web we weave…

Originally posted on Justice League:

Argentina said on Friday it would appeal a U.S. judge’s decision declaring illegal a $539 million (324.69 million pounds) payment the country deposited with Bank of New York Mellon Corp for its restructured bondholders.

BNY Mellon in June obeyed a U.S. court ruling to block the $539 million interest payment on debt that was restructured following Argentina’s record 2002 debt default, paving the way for the country’s second default in 12 years in July.

Argentina said on Tuesday it had stripped Bank of New York Mellon’s authorization to operate in the South American country.

Read on.

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Fraudulent Transfer: A Case Where Strong Arm Powers Were “An Inch Too Short”

Deadly Clear:

Very interesting approach.

Originally posted on Bankruptcy-RealEstate-Insights:

Casey v. Rotenberg (In re Kenny G Enterprises, LLC), 512 B.R. 628 (C.D. Cal. 2014)

A Chapter 11 trustee sought to avoid a transfer of property under Section 544 of the Bankruptcy Code that occurred after (1) the bankruptcy petition was filed and (2) a chapter 11 plan of reorganization was confirmed. The defendants moved to dismiss on the basis that Section 544 applies only to prepetition transfers. The bankruptcy court denied the motion, and the defendants appealed.

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The Sorry State of Bank Apologies

Deadly Clear:

It doesn’t stop them from continuing to abuse the system. Confiscate the patents. Legislate property/land as a liability – rather than the replacement for gold and silver.

Originally posted on Justice League:

Admitting a problem, as the cliché has it, is the first step to solving it. But with the Justice Department and the Securities and Exchange Commission, admissions of wrongdoing have been the last step. There’s much work to be done to hold giant corporations accountable for their misdeeds.

Over the last few years, the Justice Department and the S.E.C. have been assailed for delivering lashings to corporate malefactors that resemble a fanning with palm fronds. In response, the Justice Department and the S.E.C. would like us to think that they received the message and got tough. This summer, the Justice Department forced Credit Suisse and BNP Paribas to plead guilty to crimes. In some of its recent settlements, the S.E.C. has been requiring individuals and corporations admit that they did something wrong.

Such public statements of contrition have some degree of usefulness. It’s almost ridiculous that we consider it progress…

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Incredible! New Century Bankruptcy Judge’s Order Against Homeowner Vacated… “[d]ue process affords a re-do”

Vacated NCTenacity pays off! Maybe the jig is up… This is the bankruptcy court that wanted to DESTROY the homeowner files.

“I. INTRODUCTION
Appellants Molly S. White and Ralph N. White (“White”) (“appellants”) filed this bankruptcy appeal on October 18, 2013. (D.1. 1) They appear pro se. The appeal arises from an order entered by the bankruptcy court on August 30, 2013, that determined debtors complied with the bankruptcy court’s order establishing bar dates for ‘filing proofs of claim and approving the form, manner, and sufficiency of the notice as applied to unknown creditors.” Continue reading

Unrecorded Mortgage Assignment: If You Snooze, You Can Lose

Deadly Clear:

How many mortgages are located in securitized trusts and unrecorded because the mortgagor has never defaulted? Plenty, betcha.

Originally posted on Bankruptcy-RealEstate-Insights:

In re First Mortgage Fund, Inc., 498 B.R. 180 (E.D. Mich. 2013) –

A debtor (First Mortgage), which was the mortgagee of record, foreclosed a mortgage and obtained title to the foreclosed property notwithstanding that it had assigned the note and mortgage to another party several years before the foreclosure sale.  After the assignee sought to make a claim based on the assignment, the debtor’s chapter 7 trustee sought to avoid the rights of the assignee using his strong-arm powers.  After the bankruptcy court found in favor of the chapter 7 trustee, the assignee appealed.

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Mortgage Enforcement: Dot Those “i”s and Cross Those “t”s – Or Else

Deadly Clear:

Luckily, the Debtor apparently had a competent attorney.

Originally posted on Bankruptcy-RealEstate-Insights:

In re Demers, 511 B.R. 233 (Bankr. D. R.I. 2014)

A chapter 13 debtor objected to the portion of a mortgagee’s claim consisting of expenses related to foreclosure of its mortgage. She argued that since the mortgagee failed to comply with notice requirements under the mortgage, the foreclosure expenses were not valid.

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Benz v. Federal Home Loan Mortgage Corp || “…or that the parties to the transfer “were attempting to backdate an event to their benefit.” ” || Accordingly, we reverse the summary judgment.

Originally posted on Justice League:

The record in this case fails to demonstrate Freddie Mac’s standing on the date the complaint was filed.

Here is the court document. Click here.

 
 
 

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