Mortgage Crisis 101 by Prof. John Campbell

While the foreclosure crisis might sound to some like duck soup, Professor John E. Campbell from the University of Denver Sturm College of Law has taken the time to dissect the issues in his Mortgage Crisis in a Nutshell video explaining precisely what has happened to homeowners and searching for the reasons why.

Prof. Campbell explains what has happened in the traditional sense and how Mortgage Electronic Registration Systems, Inc. participated in part of the scheme. He also discusses how and why the homeowners were not intentionally at fault.

In this one-hour video, Attorney John E. Campbell explains the main aspects of the mortgage crisis that has devastated the U.S. housing market and the economy. Watch the video and then let’s discuss securitization in a little more detail below.

ShellGame-MERS: Contrived Confusion – A MUST READ!

Yesterday was spent reading a brilliant new ebook ShellGame-MERS: Contrived Confusion by retired attorney/CPA Robert Janes. Not enough can be said about this powerful paper that accurately outlines the errors of the foreclosure machine. IT IS A “MUST READ”!

Robert Janes has previously written a  book called “Fighting The Foreclosure Machine” and has a website with the same name, with great newsletters contained therein.  It is all about the UCC and the material is in regard to making the banks prove who can enforce the Note.

This is fabulous information and used in a lot of Quiet Title actions and Oppositions to Motions for Summary Judgments.  Judges are starting to listen to these arguments which is to put a stop to the fabrication of documents and fraud stemming from the “foreclosure machine.”

REMIC Armageddon on the Horizon?

It’s about time somebody recognized it.  David Reiss and Brad Bordon posted a dynamic review of the most recent ‘slap down the banks’ cases of Saldivar and Erobobo and the potential impact on the [failed] REMIC tax shelters in REFinBlog.

David Reiss writes: “Brad Borden and I have warned that an unanticipated tax consequence of the sloppy mortgage origination practices that characterized the boom is that MBS pools may fail to qualify as REMICs.  This would have massively negative tax consequences for MBS investors and should trigger lawsuits against the professionals who structured these transactions. Courts deciding upstream and downstream cases have not focused on this issue because it is typically not relevant to the dispute between the parties.

How Soon They Think We Forget…

This quote is actually on the Change.gov Ethic’s page… No, really it is! Maybe President Obama just forgot it was there… ya think?

Obama Nominates Congressman to Lead Mortgage Agency

Theft is Legal for Big Banks – and Your Money Will Never Be Safe

Web of Debt blog / By Ellen Brown

The new rules for keeping too-big-to-fail alive: use creditor funds, including uninsured deposits, to recapitalize failing banks.

April 29, 2013  | “[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.”

—Eric Sprott, Shree Kargutkar, “ Caveat Depositor”

The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus.  Similar “bail-in” policies are now appearing in multiple countries.  (See 

MERS – TOO MANY DEAD DUCKS

While fishing for bank-related patents this gem surfaced and jumped into the net.  At first it wasn’t apparent it was a keeper because the UETA issue has not been in the forefront of foreclosure defense. However, taking the time to dissect the document it became apparent that, as some of us have suspected, there is a mandatory methodology from the origination of the mortgage loan on a trip to the securitized trust that includes the EXPLICIT CONSENT of the obligor (homeowner).

Yup… The road to securitization needs an electronic record that the “issuer” aka the “obligor” has explicitly consented to at the time of origination. Yeah, ya think maybe that was the real intention of MERS aka Mortgage Electronic Registration Systems, Inc.? But it looks like it didn’t have all its ducks in a row. This is a lot to digest – but you need to know and understand this information in order to plead your case correctly before the courts.

MONEY VAMPIRES, BANKSTER PIRATES AND THEIR OFF SHORE TREASURE CHEST!

By Shelley Erickson

The Pirate Pilfering!

Bankster piracy is so horrific even though the 50 US attorney generals agreed to let the banks off the hook with a pittance in refunds to homeowners, the fraudclosure money vampires sailed on assaulting and wrongfully seizing our properties.

It was business as usual set out to steal even more properties the exact same way and adding millions more homeowners to their fraudclosure list

Elizabeth Warren Blasts Regulators For Protecting Banks

“The Fed messed with the wrong senator…” posted David Dayen on Salon.  Sen. Elizabeth Warren (D-MA) grilled federal officials about illegal bank foreclosures at a Senate Banking Committee hearing on Thursday. She wanted to know if they would give information to victims of illegal foreclosures–or if they just want to protect the banks. Warren asked, “You now know individual cases where the banks violated the law, and you’re not going to tell the homeowners, or at least it’s not clear yet whether you’re going to do that?”    

Weekend Reading: The Property Illusion

How many people have to lose their savings, their equity and their pensions before there is a revolution – or is the intellectual revolution already here – “refuge to reconstruction”? That is the $54 Billion dollar question.

Posted by Larry Doyle, Sense on Cents

One man’s wealth tax becomes another man’s wealth confiscation

I have no doubt that given the need for sources of revenue by Uncle Sam and other sovereign governments, the topic of “the protection of property rights” will be increasingly brought front and center in the public arena.

We saw this play out in Cyprus just a few weeks back, and we witness another example of this topic just the other day in a WSJ article, Now He’s After Your 401(K).

THE PAST BECOMES THE PRESENT – A ‘WAG THE DOG’ WITH THE POTENTIAL FOR A NUCLEAR NIGHTMARE?

Wolfowitz:

THE IRAQ WAR WAS A LIE- LISTEN TO BUSH INSIDERS….DESCRIBE WAR CRIMES

Posted by: Matthew D. Weidner, Esq. | on April 5, 2013

“Hubris” (Full Film) Iraq War Documentary – Rachel Maddow (02-18-2013)

MSNBC host Rachel Maddow reports on how the Bush administration viewed the terrorist attacks of 9/11 as an opportunity to remove Saddam Hussein from power in part one of Hubris.