“But discovery of those documents is blocked by parties claiming the information is private and proprietary — until some enterprising and highly aggressive lawyer pierces through those specious arguments and gets an order from a judge requiring the documents to be delivered. At that point the case settles under seal of confidentiality and the public none the wiser continues to think that securitization is real and that most foreclosures are actually properly done and result in paying down the debt of a borrower.”
In Britain, the mortgage market is worth more than £1.3 trillion, but how many of these mortgages are fatally flawed through the complicity of legal professionals? Sounds a lot like our mortgage corruption in America. It appears we are looking at a worldwide attack on property ownership.
Host Ross Ashcroft is joined by the film-makers Michael O’Bernicia and Michael O’Deira to find out what is really going on with our mortgages and the banks that provide them.
American Homeowners and GSE Shareholders – WAKE UP! The Treasury and GSEs hold the toxic MBS with inflated appraisals, flawed/fraudulent financial products, forged paperwork – and its what’s backing the Federal Reserve. Your property is their Gold Standard. #AuditTheFed
Is it any wonder why HAMP was a scam when you realize this? Now you can understand why you could never get a modification – when the servicers told you to miss 3-4 payments in order to qualify. Sounds like they intended to put you into default, doesn’t it? Is this why nobody wants to talk about wrongful foreclosures and toxic (worthless) property assets – would that bring down the Fed? Continue reading
That’s probably why Sloan said peace out to his job..
At least three of Washington’s most powerful regulators had expressed “no confidence” in Wells Fargo’s CEO, Tim Sloan, in the weeks leading up to his abrupt resignation Thursday, The Post has learned.
There was a “regulatory push” led by the Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corp. — three of the bank’s principal regulators — to oust Sloan from his perch at the bank in recent weeks, according to a person briefed on the matter.
“There were multiple regulators voicing no confidence,” the person said of the OCC, the Fed and the FDIC.
Bryan Hubbard, a spokesman for the OCC, declined to comment but directed The Post to an open consent order it has with the bank, from April 2018, allowing it to “provide additional guidance” on senior executive officers and board members.
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Wells Fargo announced Thursday that the embattled Sloan is relinquishing his post as CEO and president of the megabank and stepping down immediately.
According to the bank, Sloan is retiring as CEO, president, and board member on June 30, 2019, but his retirement is taking immediate effect.
The bank said that C. Allen Parker, who currently serves as the bank’s general counsel, will now take over as interim CEO, president, and member of the board.
“Shame is the reason why most borrowers don’t contest foreclosures. That shame turns to intense anger when they realize that they were used, screwed, abused and now they are targets in a continuing blitz to embezzle much-needed money from their lives and from the financial system generally.”
Judges do not rule for borrowers because they believe that securitization is a scam. They rule for borrowers when the securitization scheme or scam fails on the proof. And the way you reveal that failure is the secret to winning foreclosure cases.
Contention Interrogatory: Do you contend that the claimant is a REMIC? Do you contend that the subject REMIC is subject to IRC §301.7701(i)-1 Definition of a taxable mortgage pool?
Source: Discovery from REMIC Rules
“BUT you still need to prove intent to lie along with the other elements of fraud. A lie is not actionable if the recipient knew it was untrue or should have known or did not rely upon it. If the lie is not material then it is presumed to belie upon which nobody relied.”
The intent is found in the USPTO patents and algorithms. Dissect the reasoning for patents. NEW ideas/inventions. Traditional mortgages are not new. Securitization / rehypothecation with intended foreclosure scheme gave the banks grounds for patented procedures.
Fraud detection was built into underwriting software, which allowed the program to obtain patent. It was intentionally relaxed.
A chapter 7 trustee sought to avoid a security deed based on the fact that as of the petition date satisfactions of the security deed had been recorded. The secured party contended that its security interest was still enforceable because the satisfactions had been recorded in error, and alternatively asked for equitable recognition of its interest by subrogation or reinstatement.
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