UNMASKING FANNIE MAE: It Appears Fannie’s Role in Foreclosures May Be Linked to Obamacare Funding Scheme

By Sydney Sullivan

In May 2017, US Secretary of Treasury, Steve Mnuchin, confirmed GSE Sweeps May Have Funded ObamacareThe meaning of this significant confirmation went virtually unnoticed by homeowners, their attorneys, and lawmakers for several reasons. The top of the list is the mainstream media suppression.

No matter what side of the political aisle you stand on, if you are a homeowner in or facing foreclosure – or if you lost your home since 2008, or are an investor in the Government Sponsored Enterprises (GSE), Fannie and the Treasury Continue reading

Advertisements

Risk Transfer and Reform

Quarterly Net Sweeps consist of WRONGFUL FORECLOSURE funds and fraudulent concealment that has been perpetrated on American homeowners for years. Fraudulent documents, fraud on the courts and fraudulent concealment are the business model of this racketeering industry. The banks are losing ground because the courts aren’t under the Obamacare gun any longer and they see the sleazy scheme.

American homeowners and Americans made homeless are tired of propping up Obamacare with fraudulent foreclosure funds stemming from unclean hands of the GSEs, the banks’ and their attorneys.

American Homeowners want the rule of law back. They want their legislators to stop regulating and changing statutes to benefit the banks. Courts do not want to be collection agencies for crooks.

Trump won the worst foreclosure states and it’s time his administration woke up to the needs of the millions of Americans that have been duped since the new NTMs arrived, pensions were sucked dry and the markets crashed.

HOWARD ON MORTGAGE FINANCE

On September 26 I participated in a conference call hosted by the Washington D.C. investment firm Compass Point, on the topic of “Mortgage Finance Reform and Credit Risk Transfers.” Below is the text of my prepared remarks for that call.

The topic I’d like to address this morning is credit risk transfers, and the role they might play in a reformed mortgage finance system.

Today there are two competing approaches to resolving the conservatorships of Fannie and Freddie. The first is what Treasury and those I call the “Financial Establishment”—commercial and investment banks and their supporters—have sought from the day the conservatorships began: to wind Fannie and Freddie down, and have Congress replace them with some mechanism more to the liking of large primary market lenders. Over the past few years there have been a number of proposals for doing this: Corker-Warner, Johnson-Crapo, proposals from the Urban Institute and…

View original post 1,863 more words

JPMorgan Ordered to Pay More Than $4 Billion to Widow and Family

Justice League

That’s billion with a B….

  • Outsize punitive damages awards are often reduced by courts
  • Bank found by jury to have mismanaged estate of Max Hopper

JPMorgan Chase & Co. was ordered by a Dallas jury to pay more than $4 billion in damages for mishandling the estate of a former American Airlines executive, but the verdict will probably be knocked down on appeal.

Jo Hopper and two stepchildren won the probate court verdict over claims that JPMorgan mismanaged the administration of the estate of Max Hopper, who was described as an airline technology innovator in a statement issued by the family’s law firm.

Large punitive damages verdicts like the one in the Hopper case are often scaled back because the U.S. Supreme Court has ruled they can’t be disproportionate to actual damages. In this case, the jury awarded less than $5 million in actual damages.

Read on.

View original post

How You Can Easily Research State Records For Evidence Of Unremediated LPS Robo-Signing Fraud

If only the judges would uphold fraud on the court, yeah?

Livinglies's Weblog

How You Can Easily Research State Records For Evidence Of Unremediated LPS Robo-Signing Fraud*[1] 

By Eric Mains, Former FDIC Team Leader

Introduction

Many of the banks conducting foreclosures 2008-2013 relied on a few large foreclosure mills to litigate cases for them, and still do. For large banks, it made sense–consolidate your cases with specialized firms employing dozens of attorneys/paralegals, one-stop shop the process. Most of these firms from 2008-2013 used a version of Lender Processing Services (“LPS”) Desktop software program to create needed assignments for claimed holders of loans (Extra stress on the “claimed” part!). Some estimates put LPS’s dominance of the foreclosure software marketplace at 80% of the market during that period. LPS helped banks retain attorneys for foreclosures, and not surprisingly often chose large foreclosure mills to partner with- mills that often times had much in common with the infamous David Stern firm in Florida.

Stern’s…

View original post 2,370 more words

Back them into a corner — Request for Admissions

Livinglies's Weblog

As part of my consultation on a case involving PennyMac and Citi, I suggested a strategy (see below) using the procedural route of a Request for Admissions. If not answered, the requests are deemed admitted — which in most cases will completely undermine the foundation for any of the evidence proffered by the foreclosing party. If admitted, the same result applies. If denied, you have something to ask for in further discovery. If objections are filed then the lawyer must be prepared with cases, statutes and treatise authority to back up his claim that he/she is entitled to the information and that without it the trial will be a sham.

The usual response to a request for production is that they already gave you the paperwork — when you know and they know that isn’t what you were asking for. You hopefully asked for all documents in which there was…

View original post 913 more words

Morgan Stanley makes big push into mortgage originations

Justice League

Morgan Stanley plans to bring its mortgage origination business in-house, as the bank ramps up the business to create a bigger presence in the mortgage market.

According to the Reuters article by Olivia Oran, Morgan Stanley wants to bring the business in-house to improve customer service and generate more mortgages, citing two people familiar with the matter.

“Morgan Stanley executives hope that handling originations in-house will smooth out the process and give the bank a chance to market other products and services to wealthy clients,” the article stated.

Before bringing the business in-house, Morgan Stanley used PHH Corp. as a third-party provider for its originations.

Read on.

View original post

How JPMorgan Chase Is Cashing In On Private Prisons

Dimon was probably was a slave trader in the early 1600s consisting of criminals as indentured white slaves promised land that rarely materialized …and reincarnated into slave owner in 1700s… #WhiteCargo – great book!

Justice League

National Memo:

Chase CEO Jamie Dimon is increasingly vocal in public about his newfound ethical concerns. He made a very public statement distancing himself from President Trump over Trump’s failure to condemn white supremacy in Charlottesville, Virginia. He has also described himself as “pro-immigrant”: an opinion that is hard to square away against his roles as a financier, underwriter and bond-holder of private prison corporations like GEO Group and Core Civic (formerly Corrections Corporation of America). Both corporations oversee Immigrant Detention Centers throughout the U.S., many of which house undocumented migrants.

JPMorgan Chase’s investments in private prisons certainly make economic sense: the private prison industry is worth about $5 billion, and the election of Donald Trump has caused the profits of the sector to balloon further. Almost immediately after Trump’s inauguration, the Department of Justice rescinded the Obama administration’s order to phase out federal private prisons from the criminal justice…

View original post 1 more word

Jamie Dimon BUSTED Buying Bitcoin! (Bix Weir)

You can’t make this stuff up!

Just days after Jamie Dimon proclaimed that “Bitcoin is a Fraud!” and he would “Fire any trader that worked for him that bought Bitcoin”…JP Morgan Securities LTD in Europe was the 4th largest buyer of the “Bitcoin Tracker One” ETF!!! Not exactly sure about the legality of this, but I don’t think the CEO of the world’s largest “Too Big Too Fail” bank is legally allowed to participate in market manipulations on what he deems a “fraudulent asset!”

THE TRANSFERRING OF SERVICING RIGHTS TO AVOID REVIEWING COMPLETE MODIFICATION APPLICATION

There is an overall system in place designed with intentional fraud on the court and necessity for liquidity. The MBS computer software / financial products are not designed for 30 yr mortgages. Securitized trusts need liquidity for pension funds to be able to invest. Nothing has changed since ringleaders’ GSE conservatorship except ramping up wrongful foreclosures to feed the Treasury to prop up Obamacare. Servicing shifts are part of this process and all of it needs a criminal investigation and complete, detailed audit.

Livinglies's Weblog

bankcrak

To listen to Patricia Rodriguez discuss the latest foreclosure defense issues please visit the Neil Garfield Show here and here.

By Patricia Rodriguez, Esq.

Nothing in this article is meant to be construed as legal advice; there is no attorney-client relationship that is being created. This is for general education purposes only. 

After years of litigating against alleged lenders, investors, servicers, and foreclosure trustee’s we are starting to see a clear trend of the servicing rights being transferred upon receiving a complete loan modification application. What is an alleged lender – this is usually the party that claims to have funded the original loan or the originator.

The alleged investors are those who claim to have received an ownership interest in the loan through an assignment and endorsements or multiple assignments and endorsements. The foreclosure trustee in non-judicial foreclosure states such as California are entrusted with overseeing the foreclosure…

View original post 649 more words

Shocker: U.S. sues former Deutsche Bank head subprime mortgage bond trader for crisis-era fraud

So, let’s get this straight, the dude is “systematically and intentionally” lying about the quality of the subprime loans… the same financial products that they sold to unsuspecting homeowners? So… chances are they were lying to homeowners too, yeah? Seems logical, doesn’t it?

Justice League

In what can only be regarded as a shocking development, the United States is suing the former head of subprime mortgage trading at Deutsche Bank over “systematically and intentionally” lying about the quality of subprime mortgages that backed nearly $1.5 billion in mortgage-backed securities in the run-up to the crisis.

The lawsuit marks one of only a handful of times the government has gone after an individual for crisis-era mortgage fraud at the systemic level; an untold amount of MBS traders from this era still walk free.

Read on.

View original post