Sunday, February 11, 2018 – 3 PM HST
Upcoming Discussion for Sunday’s THE FORECLOSURE HOUR
Sundays: 3 pm (HST) / 5 pm (PST) / 8 pm (EST). Click HEREto listen.
Foreclosure Workshop #54: US Bank v. Arizumi — 15 Defects To Look For When Analyzing and Defeating a Foreclosing Plaintiff’s Motion for Summary Judgment
——————————- The main event in any judicial foreclosure is the summary judgment hearing in which a foreclosing plaintiff attempts to convince the court that it should immediately prevail and your property should be sold at auction, since it argues there is no need for a trial as it owns your mortgage debt, you are in default, and it is entitled to foreclose.
By defeating summary judgment, the odds of saving one’s home improve greatly as a borrower can thereafter generally look forward to securing either finally an attractive loan modification, a significant discounted payoff, or in rare cases wiping out one’s mortgage debt entirely. Continue reading →
Stop dancing. Pull the judges’ financial disclosure statements. Then cross search EVERY mutual fund and investment with “MBS”, “Fannie” and then GSE. Either they’re conflicted or total idiots…so then push to get them off of payroll.
Fort Lauderdale attorney Evan M. Rosen is criticizing a state appellate court — via news release — in a move that seems to flirt with breaking Florida Bar rules against impugning the integrity of judges.
Frustrated over the adjudication of foreclosure cases, Rosen issued a news release Thursday asking, “What’s wrong with Florida’s Third District Court of Appeal?”
“Sometimes things just need to be said,” Rosen told the Daily Business Review. “This is a story that needs to be told.”
Rosen, a Florida attorney since 1997, issued a 15-page document complete with a statistical analysis of foreclosure opinions from Florida’s five district courts of appeal. It shows Miami’s Third DCA outpaces its counterparts in ruling against homeowners sued by their lenders.
He said he’s spent years compiling appellate rulings from across Florida to create a database of…
Dirty paper, dirty tricks! We’re all sick and tired of it. Let’s get real here folks – it’s not just Citibank and it’s probably not Citibank at all. It is likely that all roads lead to the fraudulently concealed Fannie Mae and Freddie Mac – along with their ol’ pal …U.S. Treasury.
Servicers don’t want to modify. They don’t want to short-sale, and they don’t want to allow you to refinance. In fact, the sole objective is to use whatever means are necessary to take one missed payment and leverage it into a future default while piling on the penalties and fees to erode all of your equity. The service wants your house and they will lie, steal, forge and fabricate documents if required.
We have a client at Lendinglies who received a loan modification in 2010 and completed all three payments as agreed by the repayment plan offered by CitiMortgage. According to CitiMortgage, the agreement was done “in-house” and required no outside approval.
After receiving the modification the couple proceeded to renovate the entire home while complying with the monthly payments. Once they had fully restored their home and made their last payment, they let friends know they…
Sunday, February 4, 2018 – 3 PM HST
(Rebroadcast from June 14, 2015 – Its Super Bowl Sunday – everybody deserves a day off now and then)
Upcoming Discussion for Sunday’s THE FORECLOSURE HOUR
Sundays: 3 pm (HST) / 5 pm (PST) / 8 pm (EST). Click HEREto listen.
Not very long ago lenders filing foreclosure actions merely went into court filing affidavits that a borrower was behind in mortgage payments, offering into evidence virtually no specific documentation, not even a loan payment accounting known as the “loan general ledger.”
Notwithstanding whatever evidentiary challenges borrowers might have made previously, unlike in other areas of American Law, foreclosure judges would merely take a foreclosing plaintiff’s printed word for it. Continue reading →
The Federal Reserve on Friday ordered Wells Fargo & Co. to replace four of its board members and face restrictions on its asset growth.
The Fed’s order limits growth in the firm’s total consolidated assets beyond levels reported at the end of 2017, unless it receives prior approval from the regulator.
The bank will also replace three current board members by April and a fourth by the end of 2018, the Fed said in a press release.
“We cannot tolerate pervasive and persistent misconduct at any bank and the consumers harmed by Wells Fargo expect that robust and comprehensive reforms will be put in place to make certain that the abuses do not occur again,” Fed Chairwoman Janet Yellen said in a statement about what will likely be her last major act in charge of the Fed’s governing board. “The enforcement action we are taking today will…
The Securities and Exchange Commission (SEC) has recently announced it is discontinuing their enforcement program requiring admissions of wrongdoing and the prosecutorial approach they were supposedly taking after the 2008 financial crisis. Steven Peikin, co-director of the SEC’s enforcement division, said the SEC would drop the “broken windows” strategy of pursuing many cases over even the smallest legal violations, and may also pull back from trying to make some companies admit to wrongdoing as a condition of settling with the SEC.”
“The two public funds designed to meet the future pension and health care needs of government employees and retirees are a combined $25 billion in the hole with a growing shortfall….
The deficit in the ERS pension fund rose to $12.93 billion in the fiscal year ended June 30 from $12.44 billion in the previous fiscal year, according to one of the reports. The funded ratio — what is needed to meet future obligations — improved slightly to 54.9 percent from 54.7 percent a year earlier….
Similarly, the EUTF shortfall for all employers rose to $12.15 billion in fiscal 2017 from $11.78 billion in fiscal 2015, the last year it was reported. Its funded ratio improved to 12.8 percent from 6.7 percent because the cost of health care didn’t grow as fast as had been anticipated and because employers made more contributions to pay down the unfunded liability than required. The EUTF report has been coming out every two years but will be switching to an annual format… Continue reading →
This is paper laundering (same as money laundering) trying to confuse the true ownership identity, a faulty chain of title and failures to properly & physically transfer the paperwork – and in most cases, you will find Fannie or Freddie concealed in the background calling the shots as the ultimate investor.
Plaintiffs should have to sign an affidavit that this loan was a final SALE, not a pledge, nor participation in rehypothecation and that no underlying agreements have been executed in relation to this loan and other parties at any time. It should be a federal crime to conceal the true ownership of the debt or to participate in a paper laundering scheme devised to create fraud on the court.
Fannie and Freddie have allegedly sold loans in bulk to 3rd parties (likely to get the debt off their books and create an image of healthy corporations). Where are the assignments? And what are the underlying agreements? How much of the sale that the third party recovers do the GSEs collect? Is it a case of, “here’s the loan mortgage schedule – whatever you sell Fannie gets X%” and the 3rd party pays the legal fees rather than buy the loans outright for value?
Everything else they do is crooked – why would this be any different?
In this mortgage foreclosure case, the underlying mortgage was passed around like the flu, giving rise to a complexity of ownership that frustrated the appellee’s attempts to demonstrate standing at trial. To the answer brief, the appellee attached a chart of the ownership lineage of the mortgage and note, with different types of arrows pointing in all directions, a valiant effort which demonstrated that the transfer history here defies pictorial representation.
Let us help you prepare your narrative (blue print) for litigation: 202-838-6345
Get a consult and TEAR (Title & Encumbrances Analysis and & Report) 202-838-6345. The TEAR replaces and greatly enhances the former COTA (Chain of Title Analysis, including a one page summary of Title History and Gaps).
Lying lawyers?! How unusual. Judges are beginning to tune-in, maybe they feel they can now. Maybe judges don’t think foreclosure blood money should be used to prop up Obamacare either, or that Fannie & Freddie should be held in unnecessary captivity any longer.
When a judge looks carefully at the record, the bank loses. The use of Deutsch’s name in the style of the case still shows that Judges are considering the Plaintiff to be the named “Trustee” instead of the named (or named, which is frequently the case) Trust. In fact the Trustee has nothing to do with foreclosures. In this case the Judge wrote the following:
“Judgment (for the homeowner for declaratory relief) was based on findings and conclusions that Deutsche Bank had failed to prove chain of title back to the original lender, now defunct. The sole proof on which the bank relied — a purported assignment from “MERS as nominee for the lender, its successors and assigns” — was held void, because the assignor did not exist when the document was signed.
“Deutsche Bank’s first argument is based on a misrepresentation of the trial record. [i.e. the lawyers were…
Are we not yet clear on the distortion of nemo dat? Lay the ground work and pop the $11 Trillion dollar question. “Is this loan encumbered by (a GSE) either Fannie, Freddie and/or the U.S. Treasury?” None of which have appeared before the court or the homeowner in any form since the inception of the loan or their engagement in participation. Deception runs deep as the servicer has, in many cases, stated to the homeowner, “sorry, you can’t get a HAMP modification because you are not a Fannie or Freddie loan” …when in fact it is.
A securitized trust operates from the basis of an electronically transferred “mortgage loan schedule” spreadsheet in a computer file. Not a physical cardboard box of papers. The trust is not a physical store, it’s a computer file.
The attorneys filing the foreclosure for the trust are hired by the servicer(s) who work for usually Fannie or Freddie. The foreclosure attorneys know that the GSEs select and approve the attorneys the servicers hire and that they front for the GSEs. The attorneys hired by the servicer know that the GSEs are intentionally concealed. They also know there are back room rehypothecation agreements with the trusts, and they also know that the trusts may no longer exist or have been paid off.
The reason the trusts are still fronting for the GSEs and/or the Treasury is because the paperwork surrounding the loans and property titles are a mess. And because the fraud on the courts and the debt is so massive that the GSEs and Treasury don’t want the taxpayers, shareholders or Congress to get a grip on the overall debacle.
Reportedly, America has “$11 TRILLION” in MBS debt” – $5 TRILLION is said to be held by the GSEs and the rest by the Treasury. How, when the universe of mortgaged American homeownership is only about 100 million properties – much of which is in “affordable” housing, did the debt become so exorbitant? Do the math.
Information is admitted in evidence only after a proper foundation has been laid. If the witness knows nothing about the foundation the evidence should not be admitted as evidence. Appellate courts will usually reverse a trial court’s error in ruling on evidence UNLESS the appellate panel decides that the error would not have made any difference in the outcome. The fundamental fact at the root of all foreclosures is that the homeowner owes a debt to the foreclosing party and has not paid.
In the passage below a witness supposedly employed by US Bank displays a lack of personal knowledge on anything that would contribute to foundation for establishing the standing of the foreclosing party. I have inserted in brackets the significance of each answer of an actual witness in a court proceeding.
Let us help you prepare for deposition or trial: 202-838-6345