Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

Moody’s Settlement with SEC Does Nothing for Homeowners

livinglies.wordpress.org | January 20, 2017

By Neil Garfield

These settlements are a slap in the face to homeowners who were forced into battle with an over-reaching enemy supported by the government. We have acknowledgements of wrongdoing here by Moody's with respect to injury suffered by investors. But if the homeowners were not signing the false documents (the "loan contract") there would have been no "loans" and there would be no "derivatives", i.e., "securities" deriving their value from inactive or nonexistent trusts who issued certificates masked as "mortgage bonds."

—————-

see https://www.bloomberg.com/news/articles/2017-01-13/moody-s-to-pay-864-million-to-settle-subprime-ratings-claims

Both Moody’s Investors Service, a unit of Moody’s Corp., and S&P played key roles in Wall Street’s making of toxic, subprime mortgage bonds. While subprime home loans typically go to borrowers with the weakest credit, bonds backed by those mortgages received top-flight, AAA credit ratings. The bonds began coming apart in 2007 as the housing market collapsed, contributing to more than $1.9 trillion in losses at financial firms worldwide during a crisis that almost collapsed the global banking system.

"This crisis could not have happened without the rating agencies," the Financial Crisis Inquiry Commission concluded in 2011.

There were many indispensable parties that were needed to complete the cycle of fraud. Of course the whole thing would not have been possible were it not possible to separate investors from their money under false pretenses. And of course the scheme would not have existed without a successful hard sell approach to low-income unsophisticated people many of whom were not looking to buy a house or borrow money. But without the rating agencies the scheme would have been a non-starter. They were the ones that rated junk as AAA.
*
What transaction parties or middle tier parties to the fraudulent offer and sale of RMBS and fraudulent sale of instruments masquerading as loan documents and the fraudulent "servicing" of "loans" have not had large settlements with the DOJ?
*
"Today’s settlement contains [..] a significant penalty and factual admissions of its conduct..."
*
"Investors relied on Moody’s credit ratings to be objective and independent, and they naturally expected Moody’s to follow its own published methods."
*
Obviously the securities were not what they were advertised to be, and the "advertisements" were prospectus, prospectus supplements and other documents filed under oath with the Securities and Exchange Commission (or private offerings not filed with the SEC or GSE offerings from the Federal government directly or their sponsored entities).
*
The purported trusts, governing documents, ratings agencies, securities and mortgage loans were all just a scheme and artifice to defraud investors and homeowners in order to separate investors from their money and homeowners from their property, all to the benefit of the transaction parties.

 

 

 

Order Cutting-Edge Services Now   Quiet Title Packages from Licensed Attorneys
     
CFLA Sponsored Attorney Links   CFLA Training Academy

 

 

Back to January 2017 Archive

 

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer

Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:



 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved