Upcoming Classes


Mortgage Securitization Analyst Training Certification Class February 23th & 24th, 2019 (Online)

Certified Forensic Loan Auditors Mortgage Securitization Analyst Training Certification Class is a comprehensive 16-hour online intensive seminar. Students study and learn important topics related to Mortgage Securitization as well as complex analysis of how to obtain recorded documents. Trainees will complete (5) five full Mortgage Securitization Audits under the direct supervision of the Senior Auditor. Also covered are the complexities of form and substance related to Expert Witness Testimony and how to use your portfolio of Education and Experience to Educate Judges and Opposing Counsel on Securitization Issues, Chain of Title, and Robosigning. Graduates of the course will receive a Certificate of Completion having met the CFLA requirements necessary to be accredited as a Mortgage Securitization Analyst.
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Ambassador Mortgage Securitization Analyst Training Certification Class April 13th & 14th, 2019 (Online)

This is an Advanced Class For Analysts Seeking to Obtain Expert Witness Credentials with a cumulative (40) Hours of Live Instruction.

The Ambassador Mortgage Securitization Analyst Training Certification Class; Sponsored by Certified Forensic Loan Auditors "CFLA" is a comprehensive training certification program entitled: "AMBASSADOR Mortgage Securitization Analyst "AMSA"; a cumulative 40‐hour online intensive training seminar. This is a professional development 'how-to' training, and does not imply any State or Federal Government affiliation or Government Certification. Nationally Recognized by Courts, Judges, Banks, and Lawyers in 50 States. Instruction is not State Specific. You do not have to be an Attorney to attend this class.
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Student Testimonials.

CFLA Explains Quiet Title Audits

CFLA Explains Securitization Analysis


Quiet Title & Bloomberg Property Securitization Analysis Testimonials

05/10/2018 — "To begin, I bought your securitization audit after I had lost in state court in a foreclosure-10/27/14. Thinking there was no hope I found Certified Forensic and decided to try a securitization audit in order to have evidence of fraud in a filing with the Federal Court in New Jersey. I ended up in discovery in Federal Court. As you may remember part of discovery was a deposition taken by Chase of Michael Carrigan. I filed before Final Judgment in Federal Court on 04/10/15 with a securitization audit from Certified as evidence of fraud.To my surprise after a ruling for Chase in a summary judgement on 10/27/2014 -and going on four years later- on February 1, 2018 Chase unilaterally dismissed my state foreclosure case without any notice or discussions. I used most of the legal package from Certified. I did have people with some experience I could discuss the case with, and I had an expert witness which is also very helpful. William Paatalo is one of my expert witnesses. Bill knows the game well and he has testified around the country against the banks. It could only have happened because of the discovery in Federal Court which provided me with more evidence of fraud. This evidence could only have been gotten from discovery. And therefore the securitization audit was critical to my success in getting into discovery in Federal Court. Although I must caution there were others with the securitization audits that were not so successful so a securitization audit does not guarantee anything but in my opinion it puts you in the race. You need good legal advice and lots of reading and research with a lot of luck. I do think the odds are improving today as people are educating themselves. There are success stories. Its a long road home but the odds are getting better in my opinion. This may qualify me as a qualified success story for your firm since the state court dismissal could only have happened if I had not filed in Federal Court which brought me to discovery. Discovery gave me the evidence of fraud that I turned around and used in a Motion to Dismiss for Certification fraud in state court. The battle rages on. And there are more defeats than wins but there is hope. Many people have no idea that even after all these years there are options open to them. Chase tried to claim statue of limitation but there is no statue of limitation if you find fraud."
James Farah

"This is a testimonial to Jim and the CFLA team. CFLA and the audit once again proved to be worth far more than it's weight in gold. I was able to negotiate a (an impossible) short sale with SPS and settle with three subordinate lenders (only one of which was TARP). The deal recently closed and I remain undefeated. Much appreciation and thanks to to Jim Salvagio, Melanie Paree and the CFLA team. Further thanks for awesome support, customer service and always going above and beyond the call of duty!" Sincerely and Very Best Regards:
Jeff Burch

"My wife and I would like to thank you for the wonderful work you've done submitting the loan modification to ocwen on our behalf, we have been wrestling with them for so long and we were getting nowhere and in fear of losing our home. After you suggested I called them to find out what the status of our loan modification was, they told us over the phone that we were eligible for a Sam [Shared Appreciation Modification) they reduced our principle from $736,579.75 to $513,950.00 our interest rate went from 4.25% to 2.00% our monthly mortgage payment went from $3467.83 interest only to $2354.82 principle interest taxes and insurance included, our interest only loan was changed to a 22-year conventional fixed rate loan at 2.00%. This is good news, we could not be more grateful for the work you put into the modification. In addition; the difference between the original principle including penalties and interest and the new principal balance of $513,950 was $476,732.99 which they agreed to waive off 1/3 of that amount each year for three years as long as I remain current on my payments, at the end of that time the debt would not exist. They also told me that notification had gone out to their attorneys to stop the foreclosure proceedings, which was pending a sale date as you know. My wife and l are still in shock we wanted to see everything in writing and they told me over the phone tracking indicated that the package had been delivered to my address and it was already in the mailbox. I'm sending you copies of everything for you to look over. This was a great deal you got us, Steven, there's more I can't put in writing. Well done. This is a big step for us to be able to stay in our home."
Anthony and Karen Boone

"I just wanted to thank you for the great job on the affidavit that you wrote with our Bloomberg Audit. We had a sale date today 10-22-13 and yesterday our attorney presented a complaint with the affidavit referenced to the judge to do an injunction and he read it for only a few minutes and stopped the sale. We are proceeding to a hearing at a future date. We are in Wyoming and I don't believe they have ever seen anything like this against the banks. We have friends who now want a securitization audit and I am going to talk them into a Bloomberg audit. Thank you again."
Susan Cacho

"Hello, you did a securitization audit for me in 2014. Guess what? Chase agreed to settle for 11k, which was only PART of the property tax owed. The bankruptcy court approved the settlement agreement so It is a done deal. Once I submitted your audit, in my amended objection to their proof of claim, they started talking about a settlement. Anyway, I am interested in taking your three day course at a future date. Thanks again."
David Schaar

"Thank you for the support over the years. We just beat the bank in court to save house and prevent eviction. Their case was denied."
Jeff Castillo

"Super Certified Forensic Loan Auditor Super Heroes: Check out the Mortgage Loan Agreement Lien Release which we received this morning from the Bristol County Registry of Deeds, Taunton, MA, all because of your great cutting edge technology forensic work. Check out these documents including the Taunton Deeds pdf." A very Appreciative & LOYAL CUSTOMER:
Ron Adams


Wells Fargo to Pay $2.09 Billion Fine in Mortgage Settlement
money.cnn.com | August 1, 2018
Wells Fargo has agreed to pay a $2.09 billion fine for issuing mortgage loans it knew contained incorrect income information, the Justice Department announced Wednesday. The government said this activity contributed to the financial crisis.
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Wells Fargo Settlement Reveals Just How Aggressive the Bank Was in Making Shoddy Mortgages in Run-Up to Financial Crisis
marketwatch.com | August 1, 2018
It's tough to be surprised by any finding about deception in the run-up to the 2008-09 financial crisis. But in announcing a $2.09 billion settlement with Wells Fargo on Wednesday, the Justice Department did demonstrate once again just how aggressive banks were in their mortgage practices.
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Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics
livinglies.wordpress.com | October 28, 2016
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
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Why the Mortgages Cannot Legally Be Enforced
livinglies.wordpress.com | August 30, 2016
From the point of view of Article 9 there can be no foreclosure of a mortgage without the party claiming rights under the mortgage showing that they purchased the mortgage for value.
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Are We Heading for Another Housing Crisis?
money.usnews.com | May 12, 2016
Ten years ago, a storm was brewing in the housing market. Lenders were handing out mortgages seemingly to anyone who applied, and in many cases, borrowers weren't asked for documentation to prove income. Some institutions rolled out adjustable-rate mortgages that featured teaser rates and were marketed to consumers as loans that could be easily refinanced before the interest rate was scheduled to reset and send payments into the stratosphere.
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California high court opens door to wrongful foreclosure suits
latimes.com | March 6, 2016
During the bust that followed last decade's housing boom, hundreds of thousands of Californians lost their homes to foreclosure. It was a process later found to be rife with problems, such as overwhelmed bank employees who sometimes didn't even read the foreclosure documents in front of them. But challenging foreclosures on the basis of paperwork problems proved to be mostly futile, given California courts had ruled that borrowers who weren't paying their mortgages didn't suffer financial harm.
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The Banks Business Model is Foreclosing on Homeowners
March 2, 2016
Securitization is the reason banks want homeowners to foreclose. When a bank assigns the risk of a loan to the investors (certificate holders) of a Real Estate Investment Conduit Trust (SPV), the “bank” is no longer a traditional bank that gets the benefit of mortgage payments. Mortgage banks give as few modifications as possible and comply minimally with statutes put in place to protect borrowers, all while employing tricks to “cash in” on homeowners’ defaults, pushing them to foreclosure.
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If You Received a New Mortgage or Refinance between 2005 and the Present Your Mortgage is Null and Void!
cfla.com | February 3, 2016
If you received a new mortgage or refinanced you old mortgage between 2005 and the present and your mortgage was securitized by the Wall Street banks, your mortgage is null and void! We have truth in lending laws and full disclosure laws that are supposed to be front and center at your real estate closing.
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Goldman Sachs $5B Settlement in Favor of Homeowners
January 20, 2016
Find out if your home loan was securitized by Goldman Sachs during years 2005-2007 and thus subject to the $1.8b available for homeowners and consumers in the form of principal reduction or damages.
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$5.4 Million! Jury Finds Wells Fargo Committed Fraud When It Used Robo-Signed Document
i-uv.com | December 14, 2015
Congratulations to the experts and attorneys on this. As Marie McDonnell states in the article reproduced below this case is important because it is the first time that Robo-signing has resulted in an award of damages for fraud. I would add that the lawyers must have done a fine job at trial — because ordinarily we don’t see jury instructions that would support punitive damages for robo-signing. The pages are turning on a new chapter.
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Breaking News

Federal Court 2015 Deutsch Bank Case Reveals Bank Willingness to Lie Directly to the Court
livinglies.wordpress.com | January 31, 2019
A mere glance at the procedure invoked by the attorney supposedly representing Deutsch Bank reveals the arrogance with which the lawyers present false cases based upon false documents and false execution of documents.
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Facially Invalid Recorded Documents
livinglies.wordpress.com | January 30, 2019
The view proffered by the banks would require them to accept declarations of fact from potential borrowers without any indicia of truth or reliability. It is opposite to the manner in which they do business. Currently they have it both ways, to wit: for purposes of borrowing you must submit documents that are facially valid without reference to external evidence and which can be easily confirmed but for purposes of foreclosure, none of those conditions apply.
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Data Breach Reveals Tech Players in Storage and Manipulation of Documents
livinglies.wordpress.com | January 28, 2019
I often find clues to the “who” question of reporting in little known articles about data breaches. We find in this article the names of players who have vanished or still exist with data breaches allowing anyone to view tens of millions of mortgage loan files on servers that, among other things, change the images to documents in which the writing can be changed or lifted to create another document.
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If You Don't Challenge the Smoke and Mirrors the Smoke Becomes Law and the Mirrors Become an Inescapable Nightmare
livinglies.wordpress.com | January 25, 2019
Bottom Line: Failure to attack the facial validity of the documents is virtually hanging the homeowner letting him/her twist in the wind. Without such a relentless attack based upon scrutiny of the exact wording on documents revealing that nobody is actually identified as a real party in interest, you will be trapped by an endless cascade of legal presumptions against the homeowner.

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Rogue REMICs? 2016 Study Reveals Lack of Standing
livinglies.wordpress.com | January 29, 2019
I read a lot. I came across this article today published in 2016. Nobody has paid attention to it but as far as I can tell on first skim, the author has both coined the name “rogue REMIC” and described it well enough to come to a conclusion, to wit: everything about them is a scam and no legal standing exists with respect to them. I would only add that the author is incorrectly assuming that any securitization took place or if it was, as Adam Levitin coined the phrase, “Securitization Fail.”
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The Facts Behind Smoke and Mirrors
livinglies.wordpress.com | January 24, 2019
Nearly everyone is confused as to the identity of the real holder in due course, or the “creditor,” or the owner of the debt. Nearly everyone thinks that ultimate it is investors who purchased certificates.
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Tolling the Statute of Limitations by Initiating Administrative Processes
livinglies.wordpress.com | January 23, 2019
A recent case brought to mind a possible argument for tolling the applicable statute of limitations (SOL) on certain claims. By submission of complaints to the CFPB (TILA, RESPA, FDCPA etc) you are starting an administrative process. It might even be true that by submitting a QWR (under RESPA) or DVL (under FDCPA) you are starting an administrative process. One could argue that while you were in that process the statute of limitations on certain claims should be tolled.
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Gary Dubin on Foreclosure Reform and Deficiency Judgments
livinglies.wordpress.com | January 22, 2019
To my knowledge, the only other lawyer that is persistently publishing and broadcasting valuable information about foreclosure defense is Gary Dubin. He has published an article that is very much worth reading. while he is located in Hawaii he offers many insights that are helpful to all foreclosure defense attorneys and pro se litigants. He is licensed in California and Hawaii.
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“True Lender” Lawsuits Causing Business and Legal Headaches for Banks
livinglies.wordpress.com | January 21, 2019
You can't pick up one end of the stick without picking up the other end as well. Or, if you like, you can’t eat your cake and still have it.
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MERS Is NOTHING — The Correct Translation of “MIN”
livinglies.wordpress.com | January 18, 2019
Without a contract in writing executed with the formalities required for transfer of interests in real property, it is highly probable that any instrument executed on behalf of MERS means nothing without the necessity of drilling into the authority or knowledge of the signor. In fact, it might just be that the execution of an assignment might be the utterance of a false instrument for purposes of recording, which in and of itself constitutes illegal activity.
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Solving the Puzzle: Settlements with Homeowners Are Rising
livinglies.wordpress.com | January 16, 2019
It’s not easy to see but if you look at the court docket after a ruling against the parties designated as “foreclosing parties” you can see that these cases are often dismissed with reference to an agreement or settlement between the parties.
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Distilling the 20 Points of TILA Rescission: 9th Circuit Allows “Claim” for Rescission Under WA Statute of Limitations
livinglies.wordpress.com | January 14, 2019
I have distilled the legal points and procedure of TILA Rescission down to their essentials and specifics as you can see below. In the case presented the 9th Circuit ruled in favor of the homeowner but in so doing continued to violate the law of the land enunciated by the Supreme Court of the United States and Congress.
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Example of Homeowner Winning in Sarasota Florida
livinglies.wordpress.com | January 15, 2019
Ryan Torrens, Esq., a Florida attorney who apparently does his homework, posted this article on his website.
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Banks Are Baffled by Florida Supreme Court Ruling in Glass v Nationwide
livinglies.wordpress.com | January 9, 2019
Today (hat tip to Greg Da Goose) I received an article published by Burr Forman (bank lawyers) that admitted that the ruling was surprising and also projected that the ruling could have far reaching implications under various proceedings and laws.
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FLA S Ct Reverses Course on Homeowner’s Award of Attorney Fees and Raises Other Issues for Defense of Foreclosures
livinglies.wordpress.com | January 8, 2019
For those of us that have access to the data, we know that homeowners are winning foreclosure cases all the time. Nobody else knows because as soon as a homeowner wins or gets into a winning position they are offered money for their silence. The situation worsened when Florida and courts in other states turned down the homeowner’s demand for attorney fees after the homeowner had flat out won the case — especially where the case was dismissed for lack of standing.
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Texas Two Step: “Successors and Assigns”
livinglies.wordpress.com | January 4, 2019
Homeowners are losing to legal presumptions arising from apparently facially valid documents. Thus defensive strategies, tactics and narratives should include a robust attack on the facially validity of the instruments relied upon by parties seeking foreclosure. In most cases the grounds for such an attack are present — but only upon careful reading and review of the instrument.
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1099-C Received from “Servicer”
livinglies.wordpress.com | December 26, 2018
My personal take on this is that borrowers who receive this form for “forgiveness of debt” should probably send a letter or form of contest to the IRS stating the objection to the filing of the 1099-C. The objection or contest should state, in most cases, that this has been filed by a party who had no right, title or interest in the loan and that the form is not indicative of any final resolution of the debt, which is owned by third parties unrelated to the filer.
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How to Use and Oppose Judicial Notice
livinglies.wordpress.com | December 24, 2018
One of the biggest bluffs used by claimants in foreclosure and eviction proceedings is the request for judicial notice. If unopposed, this results in myths being propagated as facts. Just because a document exists or has been uploaded to SEC.GOV or any other site doesn’t mean the source or the content is credible or reliable.
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Older Forensic Title Analyses Need Updating — Even Ours
livinglies.wordpress.com | December 21, 2018
A recent request from an old client brought to mind the changes that have occurred, as in her case, since 2011 — more than 7 years ago.
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Using TILA Rescission as Jurisdictional Issue
livinglies.wordpress.com | December 19, 2018
I think TILA Rescission should be approached as a jurisdictional issue since it focuses on the procedural aspects of the TILA Rescission statute. In other words it should always be front and center.
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Ignorance of the Courts and Bliss for Banks
livinglies.wordpress.com | December 17, 2018
A recent Ohio Court decision makes it clear how courts are clueless and biased. They still asume, despite so much evidence to the contrary that the “Chain” asserted by the banks exists.
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Illinois Supreme Court: Mortgage Foreclosure Based Upon Payment Default is Same as Action on Note
livinglies.wordpress.com | December 12, 2018
There are several points in this decision worthy of reading and digesting. The principal point interesting to me is that the court correctly decided that an action on a mortgage for nonpayment is the same thing as an action on the note for nonpayment. They are both alleging defaults on the same instrument — the promissory note.
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How to Apply Federal TILA Rescission Rights
livinglies.wordpress.com | December 11, 2018
Bottom Line: TILA Rescission is looming as a major risk factor to banks and investors who were not informed about the risk of TILA Rescission. The oddity is that the investors were not purchasing the loans and in fact agreed to replace the income stream from borrowers with an income stream from a fake trust.
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Another Glitch from Wells Fargo Admitted by WFB (oops 570 homes foreclosed.)
livinglies.wordpress.com | December 5, 2018
Wells is trying to buy its way out if this one with offers of $25,000 to people who lost homes worth hundreds of thousands of dollars. This is the tip of the iceberg of liability for WFB, Citi, BofA, Chase and others who have very soft and porous balance sheets where liabilities are reported. Sure they have unreported trillions offshore, but the current reporting doesn’t come close to the actual liabilities of these predatory entities.
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The Answer is Nobody Has Standing to Legally Enforce the Alleged Mortgage Loan Documents
livinglies.wordpress.com | November 30, 2018
So here’s the million-dollar question. If the investors who put up the money to either fund the loans or purchase the “underlying” assets have no recourse to go after the collateral, who does?” The current answer is nobody, which is nearly impossible to wrap your head around. But the future answer lies in either well-informed court doctrine or new legislation (or both) that will clear the obvious bungled title issues and the obvious wrongful and fraudulent foreclosures conducted over the last decade or more.
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How to Follow the Money
livinglies.wordpress.com | November 26, 2018
Ultimately all debts, notes and mortgages (or deeds of trust) are about money. They are not about property. The property is incidental to the deal and ONLY comes about if there is a dispute in which there is a claim that you didn’t pay money that is owed to the owner of the mortgage deed or the beneficial owner of a deed of trust. The mortgage deed or deed of trust is conditional, not absolute like your deed to your property that names you as owner.
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Back to Basics: Countrywide as a Vehicle for Fraud on Borrowers and the Courts
livinglies.wordpress.com | November 23, 2018
Home Affordable Modification Agreement (HAMA) is really a HAMMER.
In my discussions with Charles Marshall and Bill Paatalo we frequently analyze and discuss attributes of documents and the underlying real events that occurred, which are often not connected in any manner with what is written on the documents. One such fact pattern came to our attention and I issued the commentary below.
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Flipping Fraud: Is It Really Any Different From What the Banks Are Doing?
livinglies.wordpress.com | November 21, 2018
Flipping Fraud: the act of getting a deed executed in the name of someone who doesn’t own the property and then selling the deed to a third party.
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How to Beat the Shell Game
livinglies.wordpress.com | November 19, 2018
The bottom line is that the foreclosures are a sham. The proceeds of the foreclosure never go into a REMIC Trust because there is neither a REMIC election nor a Trust, much less any entity that outright owns the debt, note or mortgage. In order to win, you must know that the securitization players use sham conduits and fictitious names at will, leaving an ever widening gap between the real and the unreal. It’s the gap that enables so many homeowners to win.
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Seeking Stay or Continuance for Medical Reasons
livinglies.wordpress.com | November 16, 2018
The bottom line is don’t do that unless your situation is compelling. Don’t assert medical conflicts when the conflict could easily be resolved. Filing such a motion without a sworn affidavit and supporting documentation is the same as not filing it at all.
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CitiGroup — Unrelenting Concealment and UN Accountability
livinglies.wordpress.com | November 15, 2018
What If It Is A Conspiracy And It’s No Theory? Citi companies, as Elizabeth Warren has pointed out a number of times, deserves to be broken up into little tiny inconsequential pieces. The presence of the name “CitiMortgage”) without any entity directly tied to it, has led to direct malfeasance and corruption even in Florida courts. “CitiMortgage” is named by foreclosure mill attorneys as the “Plaintiff.” And Citi subsidiaries pass around the mortgage as though it was a plate of hors d’oeuvres. As one perceptive reader just pointed out to me, “Do you really think that those companies each paid for the debt every time there was a paper transfer?” No I don’t. And the skulduggery perpetrated by Citi that I have personally witnessed is maddening — especially in counties that are corrupt.
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U.S. Sues UBS for Fraudulent Sales of RMBS But Still Manages to Get it Wrong
livinglies.wordpress.com | November 12, 2018
The bottom line is that the loans themselves were fatally defective in terms of the loan documents. The money was delivered but not by the named “lender” nor anyone in privity with the named lender. At all times nearly all of the loans were in actuality involuntary direct loans from investors who had no knowledge their money was being used to originate loans without any semblance of due diligence.
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Current Status of TILA Rescission and Its Application to Past, Present and Future Foreclosures
livinglies.wordpress.com | November 9, 2018
Ultimately there will be recognition that the courts are vetoing legislation passed by congress simply because the judges disagree or are afraid of the consequences if they were to apply the law. Congress wrote it, passed it, and it was signed into law. In a nation governed by the rule of law there can be no space for exceptions. This is a violation of the most basic tenet of the US Constitution — division of governance into three co-equal branches of government. The courts are required under law to follow the law. Eventually the chickens are going to come home. How and when that will happen remains unclear.
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Fundamentals of Foreclosure
livinglies.wordpress.com | November 6, 2018
When a lawsuit is filed or nonjudicial foreclosure is initiated, the party bringing the claim always has the burden of proving the legal elements of the claim. Such a party must prove that it has the right to make the claim (standing) in addition to establishing the elements of a cause of action. A party only has the right to make a claim (i.e., the court only has jurisdiction) if the the claiming party has been injured in some way by the Defendant or homeowner, in the case of foreclosures. The claiming party must identify itself and allege that it exists and is otherwise sui juris (able to make a claim under state law). In foreclosures, this element is nearly always misrepresented.
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Wells Fargo Scams Continue Unabated According to Their Own Reports
livinglies.wordpress.com | November 7, 2018
The take-away is that modifications are a scam to either steal the loan or force homeowners into foreclosure. If the modification is seen as completed, the loan has been stolen because the creditor has become a new and different party than anyone in the chain of title to the mortgage deed. If the modification is denied it is because they have never submitted it to any owner of the debt or their authorized representative and they are forcing homeowners into foreclosure, bankruptcy or both.
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Hawaii Supreme Court: Yes to Wrongful Foreclosure Counterclaim BEFORE Foreclosure is Completed and No to”Plausible” Pleading
livinglies.wordpress.com | October 12, 2018
Now that the courts are no longer in fear of precipitating an economic meltdown, it’s time to return to legal decisions instead of political decisions. The Hawaii Supreme Court has done just that in a common sense decision that sweeps aside most of the Wall Street arguments against allowing homeowners to raise the fraudulent foreclosure issue. The decision goes back decades in reaffirming the law and the intent of the rules of civil procedure.
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How to Win Eviction/UD Actions
livinglies.wordpress.com | October 11, 2018
Charles Marshall will discuss today two seminal unlawful detainer (UD) cases, in which respectively in each case the lower Court there found per usual for the institutional UD Plaintiff against the ‘former’ homeowner who was foreclosed on by an institutional trust, aka ‘lender-in-succession’. Yet on appeal of the UD judgment, in both these separate cases, the appellate courts reversed the judgment and remanded the cases.
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Standing: The Crux to Defending False Claims of Securitization of Mortgage Loans
livinglies.wordpress.com | October 8, 2018
Mortgage foreclosure is the civil equivalent of the death penalty. in criminal cases. Many court decisions have enthusiastically supported that notion and attached much more stringent rules to the enforcement of a mortgage or deed of trust than they use in enforcement of a note. That is, until the last 20 years.
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TILA Rescission: W.V. Federal District Court:”Lender” Must File Suit, Damages Awarded to Borrower
livinglies.wordpress.com | October 2, 2018
Federal Judge’s response to chicken little argument: [2] RMS argues that enforcing the statute as written would upend the mortgage industry. As noted, lending institutions faced with a notice of rescission have many options to protect their interests and ensure that the borrower is able to tender the loan proceeds. Most obviously, creditors may provide the required disclosures to limit the rescission period to three days, when parties are more likely to be able to easily return to the status quo. The Court is unconvinced that creditors will be unable to protect their financial interests if they are required to comply with § 1635 according to its terms.”(e.s.)
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How Can the Note be Transferred Without the Debt?
livinglies.wordpress.com | October 9, 2018
For most people, the concept of indorsing a note and delivering an “original” of the note to the indorsee/endorsee can only mean one thing — the note is evidence of the debt and thus, by virtue of the merger doctrine, the transfer of the note means that the note was essentially “title” to the debt. Hence the debt is owned by the transferee. The banks took advantage of this assumption and conducted millions of foreclosures based upon this assumption despite all facts to the contrary. Even if you talk to lawyers or judges their minds cloud over with the argument. It isn’t credible because it isn’t possible — the very definition of the word counter-intuitive.
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How Does the Debt Get Transferred?
livinglies.wordpress.com | September 25, 2018
Basic Black Letter law: A debt can only be transferred by the owner of the debt. The owner of the debt may use agents or intermediaries to accomplish the transfer of the debt. If an intermediary executes a document of transfer without reference and identification of the owner of the debt, the document has potentially fatal defects.
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MA Appellate Court Tells Chase They Can't Sit on Two Chairs With One Ass
livinglies.wordpress.com | September 19, 2018
As Charles Marshall just quoted to me “it’s always refreshing when you find a judge who follows the law.”
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Does the Debt Need to Transfer with the Mortgage?
livinglies.wordpress.com | September 18, 2018
The answer is yes but the movement of the debt is often, all too often, presumed to have occurred. After more than a decade of research and analysis I find no support for the informal “doctrine” that the debt, note and mortgage can be used interchangeably. But the human inclination is to treat them the same. In foreclosure defense it is the job of the advocate to establish the separate nature of each of them.
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What Good Are the Reports and Analyses?
certifiedforensicloanauditors.com | September 7, 2018
If you have a medical problem do you want just one doctor to look at your lab results or a team of doctors each doing their own analysis? The same question applies if you are heading into litigation. The problem for homeowners is that having a deep bench of professionals costs money. That is the way our system works, for better or worse.
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Surviving a Motion to Dismiss: Submission of “Illustrative Materials” In Federal Court
livinglies.wordpress.com | September 4, 2018
If you want to show examples of what you are alleging and can prove at trial (after discovery) the recent rules and decisions of the federal courts may help, if you are careful.
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Statute of Limitations on TILA Rescission: How Long Does the Debt Survive After Notice of TILA Rescission?
livinglies.wordpress.com | August 23, 2018
The simple answer is that the debt, or the claim on the debt, ends 20 days after notice of rescission. Otherwise the statute 15 U.S.C. §1635 and SCOTUS would have had no meaning when it says that the rescission is effective by operation of law at the time the notice is delivered. It provides a very short window for “lender’s” compliance.
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Making Objections and Opposing Them
livinglies.wordpress.com | August 15, 2018
A new publication has come to my attention that every trial lawyer should have, regardless of where they practice. It’s entitled NEW YORK OBJECTIONS. Obviously once you latch on to a point you would need to refer to the laws of evidence in your state or the laws of evidence in Federal proceedings or both. But because of constitutional protections all states must and do subscribe to the same rules of evidence with very few variations. The link is to an article/advertisement for the book. From there you can go buy it. I’m not selling it. I am recommending it.
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Congress Wakes Up to Continuing Lies from Major Banks
livinglies.wordpress.com | August 13, 2018
The takeaway from this is that when Wells Fargo lies it is telling a whopper. The same is true for Chase, Citi and Bank of America. They tell lies that lead to ruin of working American families and they don’t care. Their only concern is protecting the fraudulent scheme that brought trillions of dollars in illicit revenue to them and then paying a “cost of doing business” fine or settlement that is literally a few cents on the dollars.
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Terms of Art: Assignment or Endorsement?
livinglies.wordpress.com | August 7, 2018
Lawyers, judges and homeowners are using different terms interchangeably thus muddying up the argument or ruling. An assignment refers to a mortgage whereas an endorsement (“indorsement” in legalese) refers to a note. The rules regarding enforcement of a mortgage are different than the enforcement of a note.
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The Chronology of TILA Rescission
livinglies.wordpress.com | August 7, 2018
SIMPLE LOGIC, NO DEBATE. I said it before and the Supreme Court said I was right. I said it again and the Supreme Court will again issue a ruling that conforms with my statements about TILA Rescission. The longer the rebellion (by the courts) goes on, the more title, rights, obligations and certainty will be undermined.
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Beware of the New Lending Bubble
livinglies.wordpress.com | August 7, 2018
What is clear to me is that nothing has changed except the government complicity in predatory lending practices is increasing despite the passage of Dodd Frank. A fact that keeps getting buried here is that Federal Law (Truth in Lending Act) puts the burden of determining affordability of an alleged loan product on the lender, not the borrower. That is the whole point of the Act — to avoid mistakes that borrowers might make with sales pitches that will result in financial ruin for borrowers and extreme wealth for underwriters on Wall Street.
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What is the Effect of TILA Rescission on My Title? Can I Sue for Damages?
livinglies.wordpress.com | August 6, 2018
I have been getting the same questions from multiple attorneys and homeowners. One of them is preparing a brief to the U.S. Supreme Court on rescission, but is wondering, as things stand whether she has any right to sue for damages. When our team prepares a complaint or other pleading for a lawyer or homeowner we concentrate on the elements of what needs to be present and the logic of what we are presenting. It must be very compelling or the judge will regard it as just another attempt to get out of justly due debt.
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TILA Rescission Time Limits
livinglies.wordpress.com | August 6, 2018
If you slow down and logically go through the statute and the Jesinoski decision it is easy to analyze the situation and come to a correct conclusion. This is not argument of law, it is the application of logic. SCOTUS and the statute state unequivocally that the rescission is effective WHEN it is mailed, by operation of law. Everything else happens afterwards.
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Wells Fargo to Pay $2.09 Billion Fine in Mortgage Settlement
money.cnn.com | August 1, 2018
Wells Fargo has agreed to pay a $2.09 billion fine for issuing mortgage loans it knew contained incorrect income information, the Justice Department announced Wednesday. The government said this activity contributed to the financial crisis.
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Wells Fargo Settlement Reveals Just How Aggressive the Bank Was in Making Shoddy Mortgages in Run-Up to Financial Crisis
marketwatch.com | August 1, 2018
It's tough to be surprised by any finding about deception in the run-up to the 2008-09 financial crisis. But in announcing a $2.09 billion settlement with Wells Fargo on Wednesday, the Justice Department did demonstrate once again just how aggressive banks were in their mortgage practices.
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What is in the Shadow Banking (Derivative) Marketplace?
livinglies.wordpress.com | July 25, 2018
Whether the total “nominal” value is $600 Trillion as reported in the link below or $1 Quadrillion as reported elsewhere, we know only a few things and those things by themselves require intense scrutiny that the government doesn’t want to do. So the burden of the mortgage meltdown is put entirely on the backs of homeowners and the banks who made paper and actual profits far up into the trillions of dollars get to keep their ill-gotten gains.
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Is a Neg-AM Note a Negotiable Instrument?
livinglies.wordpress.com | July 9, 2018
The UCC is not ambivalent about protecting both the maker of a negotiable instrument and the party seeking to enforce it. The maker does not assume the risk of double liability except for instances where the note is purchased for value in good faith and without knowledge of the borrower’s defenses. In all other circumstances the object is to prevent the maker from being exposed to double liability.
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Pay Attention! Look at the Money Trail AFTER the Foreclosure Sale
livinglies.wordpress.com | July 3, 2018
My confidence has never been higher that the handling of money after a foreclosure sale will reveal the fraudulent nature of most “foreclosures” initiated not on behalf of the owner of the debt but in spite of the the owner(s) of the debt.
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NJ Court: Possession of Note + Mortgage Assignment is Prerequisite to Foreclosure
livinglies.wordpress.com | June 21, 2018
Since 2008 I have called out bankruptcy practitioners for their lack of interest in false claims of securitization. The impact on the bankruptcy estate is usually enormous. But without aggressive education of the presiding judge the case will not only go as planned by the banks, it will also lock in the homeowner to “admissions” in bankruptcy schedules and orders that lead to a false conclusion of fact.
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Punitive Damages for Violations of Automatic Stay in Bankruptcy §362
livinglies.wordpress.com | June 20, 2018
Pretender lenders are going to cite this case as support for the idea that the note and mortgage can be separated and that either one can be the basis of a successful foreclosure. They will rely on the “exception” implied in the court decision wherein the owner of the note has an agency relationship with the servicer who is the foreclosing party.
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Questions to Ask About the Trust and the Trustee
livinglies.wordpress.com | June 12, 2018
In the final analysis you are looking for evidence of absence of any real events currently presumed as facts in any foreclosure case.
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Homeowners Sue SPS in Class Action Over Failure to Mitigate
livinglies.wordpress.com | May 25, 2018
TBTF Banks (BofA, Chase, Wells Fargo, Citi, etc.) do not want settlements or modifications or anything that will make the loan start performing. Subservicers like SPS and Ocwen are used as conduits to other conduits that provides window dressing for claims of compliance or efforts to comply.
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BLOOMBERG: Mortgage Crisis Still Unresolved, New Crisis Looming
livinglies.wordpress.com | April 30, 2018
No two financial crises are ever quite the same. The next one won't be like the last. But history teaches lessons, and there's no excuse for ignoring them.
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Fla 4th DCA Slams Door on "another Ditech loan" in Foreclosure Claims
livinglies.wordpress.com | April 13, 2018
In the final analysis, the only way to smoke out the banks on their fraudulent claims as “creditors” or “agents of creditors” is to create a situation where the creditor must be disclosed. In those cases where judges have ruled in discovery or ruled on the right to prepay, subject to identification of the creditor, the cases have all settled under seal of confidentiality. There are thousands of such cases buried under side agreements requiring “Confidentiality.”
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Adverse Possession vs Cancellation of Instrument and Quiet Title
livinglies.wordpress.com | April 11, 2018
In the final analysis, the only way to smoke out the banks on their fraudulent claims as “creditors” or “agents of creditors” is to create a situation where the creditor must be disclosed. In those cases where judges have ruled in discovery or ruled on the right to prepay, subject to identification of the creditor, the cases have all settled under seal of confidentiality. There are thousands of such cases buried under side agreements requiring “Confidentiality.”
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Oregon Strikes Down Hearsay Part of Affidavit
livinglies.wordpress.com | April 10, 2018
It’s been the bane of existence for foreclosure defense lawyers. They are presented with affidavits or declarations in which the matters that are asserted are not based on personal knowledge and are hearsay that should be excluded from any evidence considered by the court.
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Why Void Assignments are Void Not Voidable
livinglies.wordpress.com | April 9, 2018
RATIFICATION OF VOID ASSIGNMENTS IS IMPOSSIBLE AND ABSURD. In the wake of the California Supreme Court’s decision in Yvanova and its progeny, the legal community has accepted the unacceptable (and the ridiculous). The bottom line of the decision is that a void assignment can be the basis for a lawsuit for wrongful foreclosure but it cannot be the basis of a defense to the foreclosure itself. Thus you can sue for the illegal and fraudulent use of a fabricated instrument reciting a transfer of ownership of a note and/or mortgage, but you can’t stop the illegal foreclosure which is based on the same fraudulent instruments.
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Discovery in Foreclosure Actions
livinglies.wordpress.com | April 9, 2018
Discovery is more complex than lay people realize. There is a lot of work that goes on behind the scenes in court. Our paralegal, Connie Lasco, saw the problems and forwarded the request for service to me for comment.
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Homeowners Fraudulently Foreclosed by Faux-Lenders were Nothing but Collateral Damage to the Federal Reserve
livinglies.wordpress.com | March 8, 2018
Of the number of people who “purchased” a loan product leading up to the mortgage meltdown- most were refi’s on refi’s. At one point it was reported that MERS had data on 80 million mortgages — but that includes mortgages that were paid off by sale, refi etc. At last count the number of people who were displaced by foreclosure or threats of foreclosure is around 17,500,000. You need to remember that while the latest numbers are just under 10 million foreclosures, most of them involve families of one size or another. The complexity of this plan still has people confused about their role as pawns in a giant Ponzi scheme.
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Only a Forensic Examiner Can Determine the Validity of an "Original" Note
livinglies.wordpress.com | March 7, 2018
Message of the day to homeowners and their lawyers: “stop admitting things that you assume are true. By admitting those facts you are hanging your client or yourself. Even the client is apt to say “Yes that is my signature on the note” when it has been described by opposing counsel as the original. In most cases the document might look like an original but it isn’t.
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Royal Bank of Scotland Trained Employees on How to Forge Signatures
livinglies.wordpress.com | February 19, 2018
Fraud for the first time in history has been institutionalized into law. It is foolishness to believe that the banking industry is trustworthy and that they have the right to claim legal presumptions that their fabricated documents, and the forged documents are valid, leaving consumers, borrowers and in particular, homeowners to formulate a defense where the banks are holding all the information necessary to show that the current foreclosing parties are anything but sham conduits.
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TILA RESCISSION — Filling in the Gaps
livinglies.wordpress.com | February 1, 2018
Lawyers for homeowners are probably contributing to the confusion that the banks bring to the table. And Judges, despite the clear evidence in the public domain that the banks committed millions of illegal acts, nevertheless take the word of banks over the word of a homeowner.
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Rescission is not a Claim — No Lawsuit Necessary
livinglies.wordpress.com | February 1, 2018
Rescission is not a claim. Rescission is an event. Either it happened or it didn’t. If the notice was sent, it happened. If the notice wasn’t sent then it didn’t happen.
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TILA Rescission Notice Does NOT Require Justification
livinglies.wordpress.com | January 31, 2018
Again we return to the issue of rescission under TILA. And again I am correcting the mistaken view that the grounds for sending the notice of rescission must somehow be established before sending it, which is another way of saying that the rescission can be ignored if the proper disclosures were made. That is not the case even though many courts are adopting that erroneous view.
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The Federal Reserve Terminates Anemic Enforcement Actions Allowing Fraudulent Foreclosure Practices to Continue
livinglies.wordpress.com | January 12, 2018
The Federal Reserve is wrapping up its ineffective sanctions against the five U.S. banks who were accused of improper handling of post-crisis mortgage foreclosures.
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A Pathetic Slap on the Wrist: PHH will pay $45 Million over Mortgage Servicing Failures. Those Wrongfully Foreclosed Eligible for $840 Payment
livinglies.wordpress.com | January 3, 2018
PHH, a loan servicer, will pay $45 million as part of a nationwide settlement over mortgage servicing and foreclosure issues during the housing crisis, a group of 49 state Attorney General’s announced Wednesday.
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David Dayen: The CEO of Wells Fargo Might Be In Big, Big Trouble
livinglies.wordpress.com | January 3, 2018
Late last year, Congress scrapped Obama-era rules from the Consumer Financial Protection Bureau that would have banned forced arbitration clauses in financial contracts. This bill, which President Trump quickly signed, was self-evidently bad for consumers at the time—and if anyone needs further proof of how ridiculous and harmful these clauses are, just look at what Wells Fargo has been up to over the past several months.
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Lateral Appeal in BKR to District Judge Often Overlooked
livinglies.wordpress.com | January 3, 2018
The PHH case underscores the statistics and the substance of actions brought in U.S. Bankruptcy Court. The fact is that BKR judges, once called magistrates, do not have the jurisdiction or power of ordinary District Court Judges.
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Unsecured Student Loans Create No Loss For the Lender
livinglies.wordpress.com | December 18, 2017
In a private student loan a “lender” loans the money. The stories are endless as the “loan officer” encourages the student to increase the amount of the loan to cover books, living expenses and of course, other college expenses like alcohol, car payments and iPhones.
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Illusion of Confusion: Dealing with Unresponsive "Responses" in Discovery
livinglies.wordpress.com | December 18, 2017
The bank playbook is very simple: keep it as complicated as possible. That way the court and even the homeowner will come to rely on what the banks and so-called servicer say about names, places, documents and money. That’s how they sold the initial fraudulent MBS and around 10 million foreclosures.
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Eric Mains: #MeToo- Is Social Justice a Viable Alternative to a Flawed and Compromised Judicial System?
livinglies.wordpress.com | December 11, 2017
In the last few months we have seen a literal wave of the wealthy and influential falling from grace, losing their positions of power and ducking for cover as their conduct becomes scrutinized in media and social media. They have become keenly aware if they have something to hide in their past or present that maybe, just maybe, the specter of justice, fate, retribution…call it what you will, but a reckoning of some sort may finally be coming for them.
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Another Countrywide Sham Goes Down the Drain
livinglies.wordpress.com | December 5, 2017
Banks use several ploys to distract the court, the borrower and the foreclosure defense attorney from the facts. One of them is citing a merger in lieu of presenting documents of transfer of the debt, note or mortgage. We already know that the debt is virtually never transferred because the transferor never had any interest in the debt and thus had no authority to administer the debt (i.e., as servicer).
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Deja Vu for Homeowners: 5 Flaws That Kill Student Loan Collection Lawsuits
livinglies.wordpress.com | November 27, 2017
With the same false claims of securitization of student debt as purported mortgage loans it is apparent that the courts are treating students differently from homeowners. Although the defenses are identical students are gaining much more traction in collection suits than their counterparts who are battling foreclosure.
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Trump Won’t Be Able to Defang the CFPB Without a Fight
nymag.com | November 22, 2017
The Consumer Financial Protection Bureau (CFPB) is extremely popular with the American public. The regulatory agency dedicated to preventing financial institutions from scamming ordinary Americans has won them more than $12 billion in settlements. The success that buoys its broad popularity has also made it extremely despised by banks, credit-card companies, and, by extension, the Republican Party.
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Top CFPB Official Sues Trump Administration as Showdown Over Agency Heats Up
huffingtonpost.com | November 26, 2017
Leandra English has sued the Trump administration over its appointment of Mick Mulvaney. The deputy director of the Consumer Financial Protection Bureau sued the Trump administration on Sunday to block the president's appointment of Mick Mulvaney as interim director of the agency.
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CA Judge: HELOC Notes Are Not Negotiable Instruments — Possession Is Not Enough — Pretender Lenders Must Prove the Debt and Ownership
livinglies.wordpress.com | November 21, 2017
Here we have a ruling that firmly states the obvious, with widespread ramifications. HELOC (Home Equity Line of Credit) promissory notes represent evidence of a debt depending upon how much the homeowner borrows, repays or otherwise receives advances. It is not a promise to pay a single unqualified amount of money.
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NJ Appellate Court Decision Goes to Achilles Heel of "Securitizers"
livinglies.wordpress.com | October 30, 2017
“In order to have standing to foreclose a mortgage, a party ‘must own or control the underlying debt.'”
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Banks Make Money on Settlements Too
livinglies.wordpress.com | October 30, 2017
If you are waiting for one of those “settlements” to mean something before your home goes up for auction, don’t hold your breath. Relief is not coming. The “simple” truth is that the investor is interested in the debt (i.e., the money owed by you) but everyone else is only interested in the paper. If you can absorb and accept this fact, you have a significantly improved your chance of successfully defending your home from foreclosure.
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JPMorgan Chase and the Fed in Collusion: The National Mortgage Settlement Sham
livinglies.wordpress.com | October 19, 2017
Six years ago, in February 2012, JPM was fined $5.3 billion under the National Mortgage Settlement reached with Attorney General Eric Holder. It was one of those sweetheart deals that Holder cut over and over with the big banks — by imposing cost-of-doing-business fines, instead of criminal charges, in keeping with his "too big to jail" policy.
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MERS Unraveling
livinglies.wordpress.com | October 17, 2017
"Aside from the inappropriate reliance upon the statutory definition of "mortgagee," MERS's position that it can be both the mortgagee and an agent of the mortgagee is absurd, at best."— Judge Grossman, Federal Bankruptcy Court
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BofA Coerces Homeowners Into Keeping Quiet About Their Victory
livinglies.wordpress.com | October 5, 2017
Most lawyers, most judges and most homeowners are under the mistaken impression that they cannot win a foreclosure battle. They don’t hear about all the homeowners who were successful. There are tens of thousands of them. Any news, like the $45 million verdict described in the article below, is squelched.
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Illinois Trial Court Overruled: Rescission IS Effective
livinglies.wordpress.com | October 2, 2017
As usual, the trial judge wanted no part of TILA Rescission. In December, 2016 the appellate court said the failure of Beneficial to respond to TILA Rescission notice within 20 days made the rescission final and irrevocable — something I have been saying to nay-sayers for 10 years.
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How You Can Easily Research State Records For Evidence of Unremediated LPS Robo-Signing Fraud
livinglies.wordpress.com | September 26, 2017
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!).
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"Harmless" Motion to Return Original Documents in Court File Might Yield Explosive Effects
livinglies.wordpress.com | September 22, 2017
The bottom line is that lawyers for the banks and servicers are using a device that looks harmless but creates a strong presumption that the original note exists, that the clerk of the court received it, and that it was apparently sent to the offices of the attorneys that represent the banks or servicers in foreclosure litigation. All this despite the fact that no original note was ever produced, shown, filed or admittted into evidence.
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Now It's Fabricated or Unenforceable Student Loans
livinglies.wordpress.com | September 21, 2017
The CFPB laid down some serious fines on National Collegiate Student Loan Trusts and its debt collector, Transworld Systems, Inc. The firms were collectively ordered to pay $26.1 million for attempting to collect on loans that were at best out of date and at worst nonexistent.
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Back Them Into a Corner — Request for Admissions
livinglies.wordpress.com | September 20, 2017
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 evidecne 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.
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The Transferring of Servicing Rights to Avoid Reviewing Complete Modification Application
livinglies.wordpress.com | September 15, 2017
After years of litigating against alleged lenders, investors, servicers, and foreclosure trustees 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.
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Mortgage Fraud: $500b of 'Liar Loans' in Australia, Warns Investment Bank UBS
ABC News | September 12, 2017
Up to a third of Australian mortgages could be "liar loans" based on factually inaccurate information, investment bank UBS has warned.
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Attack the Legal Presumptions
livinglies.wordpress.com | September 7, 2017
There is a simple rule to keep in mind. If you win on the discovery requests, you are on your way to a successful conclusion for the homeowner. The 2015 amendment to Rule 34 of the Federal Rules of Civil Procedure essentially bars the use of blanket objections.
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Challenge Blanket Objections to Discovery
livinglies.wordpress.com | August 29, 2017
There is a simple rule to keep in mind. If you win on the discovery requests, you are on your way to a successful conclusion for the homeowner. The 2015 amendment to Rule 34 of the Federal Rules of Civil Procedure essentially bars the use of blanket objections.
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Fannie and Freddie Foreclose on Almost 16,000 Homes in May, Almost 4 Million Since 2008
livinglies.wordpress.com | August 8, 2017
Fannie Mae and Freddie Mac wrapped up 15,683 foreclosure prevention actions in May, according to the Federal Housing Finance Agency (FHFA) May Foreclosure Prevention Report. This brings the total number of foreclosure prevention actions to 3,914,668 since the inception of the conservatorships back in September 2008.
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Wells Fargo has Ripped Off Veterans, Auto Loan Customers and Homeowners: The Feds Do Nothing.
livinglies.wordpress.com | August 8, 2017
New legal challenges are piling up for Wells Fargo as the U.S. banking giant tries to rebuild trust with customers and investors after a scandal over millions of unauthorized accounts.
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Timothy Howard on Fannie Mae and Freddie Mac: A Pattern of Deception
livinglies.wordpress.com | August 4, 2017
On July 19, Judge Margaret Sweeney unsealed 33 additional documents produced in discovery for the lawsuit brought by the Fairholme Funds in the U.S. Federal Court of Claims. They were made available to the public early last week.
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6th Circuit: No Waiver of Due Care and Fair Dealing
livinglies.wordpress.com | August 3, 2017
This court has again returned us to the rule of law. You can’t screw up and then blame the victim for the problem or even allow the victim to suffer the damages.
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Trump's Nominee for OCC Post Meets Resistance Due to One West Fraud Settlement
livinglies.wordpress.com | July 31, 2017
"Cold and calculating and not willing to take the tiniest bit of responsibility" is how federal whistleblower Sandra Jolley describes Joseph Otting, President Donald Trump's pick for comptroller of the currency, the nation's chief bank regulator.
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Mich. Foreclosure Law is 'gov't-sanctioned thieving'
livinglies.wordpress.com | July 22, 2017
The Supreme Court of the United States (SCOTUS) is being petitioned by several small property owners in Michigan who argue that they were victimized by the state's abusive foreclosure law that allows the local government to steal their property and make hundreds of thousands of dollars in profit off of them.
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Billions in Student Debt could Disappear Because of Lost Paperwork
livinglies.wordpress.com | July 19, 2017
The latest example of America’s legal system being a total circus might actually help you out–if it doesn’t swindle you over first.
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More Trump Populism: Hiring a Bank Lawyer to Attack CFPB Bank Rules
livinglies.wordpress.com | July 21, 2017
President Trump and Republicans in Congress have broadcast their every intention to gut the Consumer Financial Protection Bureau. The president's budget attempted to defund it and leading Republicans have called for its director to be fired and replaced with a more Wall Street-compliant regulator.
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Ocwen to Shell Out $56 Million in Class-Action Settlement
livinglies.wordpress.com | July 21, 2017
Ocwen Financial Corporation (NYSE: OCN) on Thursday announced that has reached a $56 million settlement over a federal class-action lawsuit, the latest in a line of issues for the troubled servicer.
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NY Times: Student Debt Getting Wiped Out by Fraudulent Claims of Securitization
livinglies.wordpress.com | July 18, 2017
So here is an example of why you need to send a DVL (Debt Validation Letter). It turns out that mainstream media and the court system are much more willing to get into bank fraud as to students than they were when it came to homeowners. The facts are the same.
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As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away
The New York Times | July 17, 2017
Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.
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A Shocking Number of Americans Live in Housing They Can't Afford, According to Harvard Study
livinglies.wordpress.com | July 16, 2017
According to new research by Harvard University, almost 40 million Americans “live in housing they cannot afford.” Homeownership has gone down and rental prices keep going up, meaning that millions of residents are forced to pay more than they reasonably should.
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Massive new fraud coverup: How Banks are Pillaging Homes — While the Government Watches
salon.com | April 23, 2014
Joseph and Mary Romero of Chimayo, N.M., found that their mortgage note was assigned to the Bank of New York three months after the same bank filed a foreclosure complaint against them; in other words, Bank of New York didn't own the loan when they tried to foreclose on it.
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Why the Justice Department Fails to Prosecute Executives Hardcover — July 11, 2017
livinglies.wordpress.com | July 12, 2017
Pulitzer Prize-winning journalist Jesse Eisinger paints a blistering account of corporate greed and impunity, and the reckless and anemic response from the Department of Justice and Department of Treasury where penalties and fines were only implemented to create the illusion of enforcement.
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6th Cir. Bankruptcy Panel Holds Foreclosure Deficiency Judgment May Be Avoided
livinglies.wordpress.com | July 11, 2017
The Bankruptcy Appellate Panel of the U.S. Court of Appeals for the Sixth Circuit recently held that a mortgage foreclosure deficiency judgment lien may be avoided under 11 U.S.C. § 522(f)(2), reversing the bankruptcy court's ruling to the contrary.
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It's About to Get a Lot Easier to Sue Your Bank for Screwing You Over — Unless the Republicans Kill the New Regulation
livinglies.wordpress.com | July 11, 2017
It's almost unheard of for the federal government to ban anything done by Wall Street bankers. Maybe the feds ask for banks to provide more disclosure or somehow limit a particularly onerous practice. But a ban, especially in this new era of industry friendliness ushered in by Donald Trump? Yeah, right.
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Florida Court Rules Bank of America Must Pay Homeowner 6 Years of Attorney Fees on Dismissed Foreclosure Lawsuit
(PR NewsChannel) | June 16, 2016
PALM BEACH Fla. — America's most-hated bank lost back-to-back court motions on Friday when a judge ordered Bank of America Corporation (NYSE:BAC) to pay Author TJ Fisher's 2009-2014 attorney fees on a dismissed foreclosure lawsuit. The bank's bill is expected to total more than $60,000, court documents reflect. The Goliath bank's recent court loss is unlikely to garner much public sympathy, according to national polls and indexes. The bank consistently tops the list as one of the country's most despised banks and companies.
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Proof of Standing Required: Seffar v. Residential Credit Solutions Inc
livinglies.wordpress.com | July 5, 2017
It is NOT enough to ALLEGE standing. They must PROVE it. Judges across the country are making mistakes with this simple concept. Standing to SUE is presumed if you allege (in words or by incorporation of exhibits) that you have it. Possession of the “original note” can be alleged but at trial the foreclosing party must PROVE (not argue) that (1) they have the original note and (2) they have the right to enforce it either because they own it or because they have been authorized by a person who owns it or a person who has the right to enforce it.
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HSBC in Talks with US to End Crisis-Era Mortgage Probe
Bloomberg | July 5, 2017
HSBC Holdings Plc is in talks to resolve a US probe into its sale of toxic mortgage bonds a decade ago, according to people familiar with matter, a negotiation that could offer an early look at how the Trump Justice Department will deal with global banks.
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Morgan Stanley nears $400 Million in Consumer Relief for Mortgage Bond Settlement
livinglies.wordpress.com | July 5, 2017
Morgan Stanley is nearly finished with its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year.
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10th Circuit Challenges SCOTUS on TILA Rescission — Pohl v US Bank, "Trustee"
livinglies.wordpress.com | July 3, 2017
”Courts are still inventing doctrine out of whole cloth allowing banks to escape liability and responsibility for their wrongful acts. This decision is so far off the charts that it will most certainly be reversed.”
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Recent Case Decision Summaries
livinglies.wordpress.com | June 28, 2017
Excerpted case summaries relevant to foreclosure:
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MERS and Securitization
by Neil Garfield | June 27, 2017
Investors and borrowers were thus left in a transaction they didn’t know existed and without any documentation to show for it. MERS was essential to fill that void with the creation of fabricated written instruments that appear to be facially valid.
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Supreme Court Remands Quicken Loans Lawsuit
by Kyla Asbury | June 27, 2017
Following a five-day trial in Raleigh Circuit Court, a jury found Quicken Loans violated the illegal loan provision of the West Virginia Residential Mortgage Lender, Broker & Servicer Act in originating a primary mortgage loan for Sue Walters and was liable to her for damages in the amount of $27,000. The jury found in favor of Quicken Loans on Walters' claim of fraud and further found that Quicken Loans had not acted with malice.
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Film Review: 'Abacus: Small Enough to Jail'
by Erin Teachman | June 26, 2017
The fallout of the financial crisis is still being thrashed out in full public view, which makes for a terribly difficult documentary subject; we are a long way from knowing where most of it actually ends. Steve James, the documentarian behind The Interrupters, Life Itself, and Hoop Dreams, has found a tiny self- contained story inside the vast umbrella of the financial crisis that only recently found a conclusion: the travails of the Sung family, the owners and operators of Abacus Federal Savings Bank, a small bank servicing the Chinese immigrant community in New York City.
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Detroit Against Foreclosures & For Housing for People, not Banks
by Jerry Goldberg | June 26, 2017
A public forum on June 17 addressed the continuing tax foreclosure crisis in Detroit that has left thousands of families facing imminent eviction from their homes. The forum was organized by the Coalition to Stop Unconstitutional Property Tax Foreclosures, composed of many community groups including the Moratorium Now! Coalition, Detroit BYP100, the Detroit People's Platform, the United Community Housing Coalition and the American Civil Liberties Union.
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Foreclosure Prevention is Paying Off Claim the GSEs
livinglies.wordpress.com | June 25, 2017
The GSEs claim to have prevented more than 49,000 foreclosures in the first quarter, an increase of nearly 5,000 preventions compared to Q4, according to the Federal Housing Finance Agency's Q1 Foreclosure Prevention Report. Unfortunately, the majority of these loans that were prevented from being foreclosed upon were held by parties that had no evidence of standing or ownership, and therefore had no right to negotiate.
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Rising Housing Costs are Putting a Major Squeeze on Americans
livinglies.wordpress.com | June 18, 2017
Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies.
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What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak
livinglies.wordpress.com | June 16, 2017
Since the financial crisis, home equity has gone from being America's biggest driver of (illusory) wealth to one of the biggest sources of economic inequality.
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Lawsuits Claim Wells Fargo Modified Mortgages Without Customer Permission
The Washington Post | June 15, 2017
Wells Fargo is facing more accusations that it made unauthorized changes to customers accounts — this time to their mortgages.
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Wells Fargo Is Accused of Making Improper Changes to Mortgages
The Washington Post | June 15, 2017
Even as Wells Fargo was reeling from a major scandal in its consumer bank last year, officials in the company’s mortgage business were putting through unauthorized changes to home loans held by customers in bankruptcy, a new class action and other lawsuits contend.
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NYT: Wells Fargo Pattern of Filing False Documents with Federal Court
livinglies.wordpress.com | June 15, 2017
It’s nice to see Gretchen Morgenson back on the beat of financial fraud. We need more exposure to what everyone who has battling foreclosures already knows — that virtually all of the documents relied upon by would-be foreclosers are false, fraudulent, fabricated and forged. These revelations appear to be the only way judges will stop allowing presumptions of false facts to dominate their rulings.
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$25 Billion Robo Signing Settlement Deal – Get Your Money
Robo signing? Single point of contact? Foreclosure moratorium? These things almost seem like distant past but listen in as we discuss the $25 BILLION settlement the big 5 servicers just signed and how it will impact you.
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Document Forgery in Financial Industry More Common than You'd Think, Past Employees Say
livinglies.wordpress.com | May 31, 2017
Requiring proof from the foreclosing party without legal presumptions would reverse many if not most foreclosures.
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The Money Trail vs. The Paper Trail Review
livinglies.wordpress.com | May 28, 2017
by KK MacKinstry/Lendinglies.com
Homeowners trying to receive evidence of the money trail are stonewalled from obtaining the documents that would help them to prove their case and prevail. Discovery is often blocked on ordinary grounds or on the basis of relevance. Therefore Discovery must be executed with precision, caution and as part of the record. Both the money trail and the paper trail matter, but revealing the money trail is much more difficult because in that discovery lies the smoking gun.
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Overcoming Res Judicata with the Law of Voids
Greg 'da Goose | May 28, 2017
If you are caught in a situation where you are just learning how to defend yourself after a judgment has already been rendered in your case and you have discovered jurisdictional failures in the plaintiff’s case or worse, instances of fraud by the plaintiff or their attorneys to force the hand of the judge in the case to make an expedient or default judgment… consider these…
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PMI Insurance: Coverage, Overcharges, Kickbacks and Maybe a Duty to Mitigate Losses — and Article 3 Standing in a Nutshell
Posted by Neil Garfield | May 24, 2017
Insurance was one of the vehicles by which borrowers were used to create "fees" that were "kicked back" essentially to the Lender or a controlled entity of the Lender. Besides the obvious violation of RESPA, I see another hidden issue — the duty to mitigate damages imposed on all "injured parties."
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David Dayen: Why Trump Didn't Have to Obstruct Justice: The US No Longer Holds the Powerful Accountable
livinglies.wordpress.com | May 24, 2017
Administration is in crisis. Successive scandals related to possible collusion with Russia and obstruction of justice have put talk of impeachment in the air. Beyond those parallels to Nixon, anti-Trumpers are giddy about the legal pressures building on Michael Flynn, Paul Manafort and a "person of interest" inside the White House, who knowledgeable people assume to be son-in-law/senior undersecretary for everything Jared Kushner.
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The Housing Moment Investors Dread is Here
Posted by Neil Garfield | May 20, 2017
By Danielle DiMartino Booth
Amid the carnage in the auto sector, economists have sought solace in the comforts of home, sweet home. A recent Census release suggests that Millennials, long sidelined, have finally started to tiptoe into the home-buying market. The reception to the data was so effusive that other reports, suggesting housing has reached a much different sort of turning point, were lost in the fray.
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Mortgage Crisis 2.0: BofA CEO Wants to Slash Down Payments to Help Poor Millennials
livinglies.wordpress.com | May 20, 2017
Among a host of other issues, one of the critical things that contributed to the housing crisis of 2008 was the fact that speculative borrowers had nearly no “skin in the game.” Anyone who decided they wanted a piece of the rapidly inflating housing bubble could go out and buy multiple houses with no money down or, in some cases, even do “cash out” purchases whereby banks would finance more than 100% of the purchase price leaving ‘buyers’ to pocket the excess.
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Fifth Circuit Confirms that Constitutionally Non-Compliant Home Equity Liens are Invalid and that No Statute of Limitations Applies to a Quiet Title Action Alleging Such Violations
Posted by Kane Russell Coleman Logan PC / The Law of Banking
USA | May 18, 2017
The Fifth Circuit recently confirmed that lenders and/or servicers cannot raise the statute of limitations as a defense where borrowers claim that a home equity loan fails to comply with the Texas Constitution. In Ocwen Loan Servicing v. Robert M. Berry, the Fifth Circuit vacated and remanded a summary judgment granted in favor of Ocwen Loan Servicing (“Ocwen”) in relation to a Texas home equity loan.
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Fannie, Freddie Cut Mortgage Modification Interest Rate for First Time in 2017
livinglies.wordpress.com | May 17, 2017
After four months of leaving the benchmark interest rate for standard mortgage modifications (not including HAMP mods) at an 18-month high, Fannie Mae and Freddie Mac recently announced that they are cutting the benchmark rate.
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Faux Housing Recovery: US Mortgage Applications Tumble Most Since 2016
livinglies.wordpress.com | May 17, 2017
After dismal housing starts and permits data yesterday, the ‘housing recovery’ narrative took another knock this morning as strong>mortgage applications tumbled 4.1% last week – the biggest drop since December 2016. If the Fed raises rates in June- there will be a further contraction.While mortgage rates were unchanged, both purchases and refis fell notably…
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Default, Foreclosure and the Impact on Physical and Mental Health Function
livinglies.wordpress.com | May 15, 2017 by K.K. MacKinstry/LendingLies Blog
Neuroscientists have concluded that chronic stress and cortisol damage the brain. Although there are no formal studies to date on the health ramifications of default, prolonged litigation, and post-foreclosure trauma, it would be safe to conclude that people who are exposed to chronic stress over an extended period of time are prone to mental issues like anxiety and mood disorders as well as physical illnesses. The most common mental disorders in protracted litigation are post-traumatic stress disorder, anxiety and depression that unfortunately result in altered brain structure and chemistry.
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Connecticut Issues Cease-And-Desist to Loan Servicing Company
by Kenneth R. Gosselin / Hartford Courant| May 8, 2017
Ocwen Loan Servicing has been hit with temporary cease-and-desist orders by Connecticut and 24 other states for failing to properly manage home loan escrow accounts that set aside funds for payment of property taxes and insurance. State banking regulators in Connecticut have accused Ocwen, a major loan servicer across the country, of not properly managing escrow accounts, which include making tax and insurance payments.
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Most U.S. Homes are Worth Less than Before the Crash
livinglies.wordpress.com | May 6, 2017
You can't blame a homeowner in Fresno, Calif., for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno's housing market is stuck in a rut. Less than 3% of homes in the city and its environs have returned to their pre-recession peak, according to a new study from Trulia. Median home values are a teeth-clenching $78,000 below their pre-recession peak.
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CitiFinancial, CitiMortgage To Pay $28.8M Over Mortgage Servicing Issues
by Neil Garfield / livinglies.com| May 6, 2017
Millions of consumers lost their homes when the housing market bubble burst. But federal regulators say some of those people may have been able to stay in their homes had mortgage lenders fulfilled their requirements. To that end, the Consumer Financial Protection Bureau has ordered two Citigroup subsidiaries to pay $28.8 million to resolve allegations that some of its mortgage units harmed home borrowers.
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Hang On! More Properties Underwater in the First Quarter: Attom
by Neil Garfield / livinglies.com| May 5, 2017
Seasonal factors contributed to an 89,000-unit increase in the number of seriously delinquent properties in the first quarter from the fourth quarter of 2016. The quarter ended with nearly 5.5 million homes seriously underwater, compared with 5.4 million at the end of the fourth quarter and 6.7 million for the first quarter of 2016.
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Flint Sends Foreclosure Notices to 8,000 Residents Who Refused to Pay for Contaminated Water
livinglies.wordpress.com| May 4, 2017
The ongoing saga of lead‐contaminated water in Flint, Michigan, got yet another layer on May 4, when 8,002 residents received foreclosure notices for failure to pay their water bills, according to the Washington Post. The notices came a few weeks after the city ended a program that assisted residents in paying bills for their contaminated water.
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Wells Fargo Targeted Undocumented Immigrants, Stalked Street Corners, Lawsuit Claims
Kristine Phillips | May 4, 2017
On "Hit the Streets Thursday," Wells Fargo bankers and tellers, specifically those of Latino descent, scouted the streets and Social Security offices for potential clients. Their goal: Find undocumented immigrants, take them to a local branch and persuade them to open bank accounts.
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Cities May Sue Banks Over Foreclosure, Industry Reacts
by Neil Garfield / livinglies.com | May 1, 2017
Author: Seth Welborn In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue Bank of America Corp. and Wells Fargo & Co. under the Fair Housing Act, stating that the banks' discriminatory and predatory lending practices led to a major shortfall in city tax revenues.
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GSE Bill would allow Homeowners to submit FOIAs to Fannie and Freddie while under Federal Conservatorship
by K. K. MacKinstry.com | April 25, 2017

Anyone who is trying to find out information about the trust ownership of their loan, knows that if Fannie Mae or Freddie Mac are involved- your research hits a stone wall.
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Powell v. Wells Fargo: The Party Seeking Foreclosure must Demonstrate that it has Standing to Foreclose
livinglies.wordpress.com | April 25, 2017
In this case the Bank was required to prove a chain of transfers starting with the indorsee, GreenPoint Mortgage to the current servicer. The Bank failed to prove the series of transactions through which it purportedly acquired the note from the indorsee and the judge ordered an involuntary dismissal. However, because this is Florida and statute of limitations are not upheld, it is likely that Wells Fargo will have time to regroup, create a new strategy, and file to foreclose again on the tortured homeowners.
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Hearsay Trap for Borrowers
Livinglies.com | April 12, 2017

This case shows that hearsay evidence is admitted as long as it is a bank claiming an exemption.
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Wells Fargo Former Execs to Repay 75m in Bonuses but Bypass Criminal Charges Apply
livinglies.wordpress.com | April 11, 2017

Former CEO John Stumpf (a major crook in the subprime scandal) was previously fined $41m out of the $200m he made overseeing a complex fraud scheme that stole the identities of over 2,000,000 Wells Fargo customers –– and will now have to repay another $28m, but will not face criminal charges.
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Deutsche Bank Survives on Investor Life-Support
livinglies.wordpress.com | April 11, 2017
Deutsche Bank announced that it will create more shares and sell them at a 35% discount. Existing shareholders are not happy and in the first four days since the offer was announced, the value of existing shares dropped by 13% as shareholders began sharing off their shares.
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Plaintiffs Challenge Federal Judge's Ruling of res judicata in Foreclosure Case
by Nicholas Malfitano | April 10, 2017
On Feb. 27, Judge Cynthia M. Rufe of the U.S. District Court for the Eastern District Court of Pennsylvania ruled to dismiss the federal litigation brought forward by plaintiffs Kathleen and Harry Keyser against defendants Stern & Eisenberg P.C., Edward J. Donnelly, Christina C. Viola, Ocwen Loan Servicing, LLC, Francis S. Hallinan and U.S. Bank National Association.
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New York Law: New Requirement on Lenders in Foreclosure Process Is Constitutional
New York Law Journal | April 08, 2017

A new law in New York that says lenders' legal representatives must bring all the necessary documentation to foreclosure settlement conferences with mortgage holders has been upheld by a judge.
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New York Judge finds foreclosure time-barred and cancels Mortgage
livinglies.wordpress.com | April 01, 2017
Unlike Florida where there is no statue of limitations and every missed mortgage payment resets the clock, New York enforces the statute of limitations for debt collection including mortgages.
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livinglies.wordpress.com | March 7, 2017
As predicted on my blog back in 2008, we are seeing new names of Trusts emerge in foreclosure cases — involving old loans that were declared in default years ago by parties asserting they represent the alleged servicer of either a named bank or servicer or an old trust. What happened? As our sources had revealed, the alleged trusts had nothing in them and were the source of extreme liability of the Master Servicer acting as underwriter to the investors and third parties who traded in securities based upon the representation that the Trust actually owned the debts of millions of homeowners.
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Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist
livinglies.wordpress.com | February 14, 2017
Last week, the Consumer Financial Protection Bureau (CFPB) charged two units of the Wall Street mega bank, Citigroup, with insidious fraudulent acts against homeowners while it imposed a modest $28.8 million in relief and penalties. The penalty portion of $7.4 million is meaningless because this is a bank that serially breaks the law, laughs at its regulators, and, most outrageously, it was simultaneously engaging in heinous misdeeds against Americans while the U.S. government was using taxpayer money to bail out its failed business model of brazen financial frauds. The $7.4 million in fines also stands in contrast to the $14.9 billion that Citigroup reported as net income for 2016.
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What is the CFPB and what does it offer consumers?
livinglies.wordpress.com | February 14, 2017
The new Presidential administration will soon dissect the Dodd-Frank Act, a group of regulations the Obama administration developed in response to the 2008 financial crisis. Some political analysts expect them to disband the Consumer Financial Protection Bureau (CFPB). So what exactly is it, and what does it do for consumers?
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What is the CFPB and what does it offer consumers?
livinglies.wordpress.com | February 14, 2017
The new Presidential administration will soon dissect the Dodd-Frank Act, a group of regulations the Obama administration developed in response to the 2008 financial crisis. Some political analysts expect them to disband the Consumer Financial Protection Bureau (CFPB). So what exactly is it, and what does it do for consumers?
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Can you really call it a loan when the money came from a thief?
livinglies.wordpress.org | February 8, 2017
The banks were not taking risks. They were making risks and profiting from them. Or another way of looking at it is that with their superior knowledge they were neither taking nor making risks; instead they were creating the illusion of risk when the outcome was virtually certain.
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Trump’s Treasury pick says his bank didn’t ‘robo-sign.’ These court papers say it did.
thinkprogress.org | February 8, 2017
Before he was picked by President Trump to lead the Treasury Department, Steve Mnuchin ran a bank named OneWest, which foreclosed on tens of thousands of homeowners under his leadership. After his Senate hearing, he was asked specifically about the practice of robo-signing, which entails mortgage officials rapidly signing off on hundreds or thousands of foreclosure documents without verifying that the information is accurate or giving it a thorough review as required by law. Thus a bank can speed up the foreclosure process and, in some cases, get courts to let it take possession of a property with a full trial.
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THE BIGGER PICTURE: Foreclosure fight
fltimes.com | February 8, 2017
In 1998, Leanne Labadee bought a three-unit home on Ogden Street in Penn Yan for $75,000. The 50-year-old faithfully paid her mortgage every month, the majority of the time with money orders. She never missed a payment.
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RESCISSION: It’s time for another slap on the wrist for state and federal judges
livinglies.wordpress.org | February 6, 2017
50 years ago Congress decided to slap punitive measures on lenders who ignore or attempt to go around (table-funded loans) existing laws on required disclosures --- instead of creating a super agency that would review every loan closing before it could be consummated. So it made the punishment so severe that only the stupidest lenders would attempt to violate Federal law. That worked for a while --- until the era of securitization fail. (Adam Levitin's term for illusion under the cloak of false securitization).
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Are mortgage-backed securities backed by any guarantees?
tradebuddy.online.com | January 31, 2017
Actually, any mortgage-backed security (MBS) guarantee depends on who issued it. To review, an MBS is a security, created through the process of securitization, in which the underlying assets are loans made to individuals and companies who are using the funds to purchase buildings and homes. The mortgages are secured to the lender by the properties purchased by the borrowers and are often backed by some form of homeowners’ insurance. However, this insurance will only protect the issuer of the mortgages (mortgagee), and not the owners of an MBS that is issued using the same underlying mortgage. Therein lies part of the risk to MBS investors.
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TILA RESCISSION: Who Pays the Money?
livinglies.wordpress.com | January 31, 2017
The menu of items that are due to the borrower as a condition precedent to making a claim for repayment is expansive and frankly in many cases is equivalent or nearly equivalent to the total amount of the principal claimed as loan repayment.
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Federal Reserve Bankers Mocked Unemployed Americans Behind Closed Doors
theintercept.com | January 29, 2017
In 2011, unemployment was at a near crisis level. The jobless rate was stuck around 9 percent nationally, an unusually high number due to the continuing effects of the financial crash. House Democrats were aghast. “With almost five unemployed Americans for every job opening, too many people remain jobless because of a lack of work, not a lack of wanting to work,” said Congressman Lloyd Doggett, D-Tex. So in early November 2011, they introduced a bill to reauthorize Federal unemployment benefits, an insurance program designed to aide those looking for work.
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ServiceLink fined $65 million for LPS foreclosure deficiencies
housingwire.com | January 26, 2017
In 2011, Lender Processing Services was part of a massive settlement with the government over industry-wide foreclosure misconduct that occurred after the housing crash. That settlement stemmed from document missteps in the third-party foreclosure process at some very large banks and mortgage servicers in the aftermath of the subprime crisis.
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Mnuchin Lied About His Bank’s History of Robo-Signing Foreclosure Documents
theintercept.com | January 26, 2017
Treasury secretary nominee Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did. Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by his critics.
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Citi Plan to Force foreclosures Exposed and Fined $29 Million
livinglies.wordpress.org | January 25, 2017
This is one instance in which the industry practice of tricking borrowers into foreclosure becomes crystal clear. The case is also instructive on the terms of so-called "modifications." The goal in all instances is to use every means at their disposal to trick the borrower into waiving rights and falling into the abyss of foreclosure without any appropriate disclosures.
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CHECKLIST — FDCPA Damages and Recovery: Revisiting the Montana S Ct Decision in Jacobson v Bayview
livinglies.wordpress.org | January 20, 2017
What is unique and instructive about this decision from the Montana Supreme Court is that it gives details of each and every fraudulent, wrongful and otherwise illegal acts that were committed by a self-proclaimed servicer and the "defective" trustee on the deed of trust. You need to read the case to see how many different times the same court in the same case awarded damages, attorney fees and sanctions against Bayview who persisted in their behavior even after the judgment was entered.
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Western Union to Pay $586 Million in US Fraud Settlement
databreachtoday.com | January 20, 2017
Western Union will pay $586 million to settle U.S. civil and criminal cases that alleged the company turned a blind eye for years to criminals who used its money transfer network to commit fraud. In one of the most serious accusations, the Department of Justice alleged that Western Union knew for at least five years that its agents were accommodating funds transfers connected with human smuggling.
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Moody’s Settlement with SEC Does Nothing for Homeowners
livinglies.wordpress.org | January 20, 2017
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."
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Harmed by Navient? What student loan borrowers need to know
usatoday.com | January 20, 2017
The U.S. Consumer Financial Protection Bureau is suing Navient Corp., the nation’s largest student loan servicer, accusing it of “systematically and illegally failing borrowers at every stage of repayment,” according to a press release Wednesday. The CFPB is asking Navient to compensate the borrowers the agency says were harmed.
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True Costs Of Foreclosure, Property Abandonment Extend Across Neighborhoods And Communities
finance.yahoo.com | January 17, 2017
CLEVELAND, Jan. 17, 2017 /PRNewswire/ -- A groundbreaking analysis of the true costs associated with the nation's housing crisis quantifies for the first time the substantial and numerous impacts foreclosures and vacant and abandoned properties have on homeowners and their communities. Even based on conservative estimates, the typical foreclosed home imposes costs of more than $170,000, according to a study commissioned by Community Blight Solutions and its Founder & Chairman, Robert Klein.
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Lawsuit Seeking Disgorgement Might Not Be Barred by Statute of Limitations
livinglies.wordpress..com | January 15, 2017
What is apparent here is that the Courts are coming to terms with the possibility that those relying upon a statute of limitation as a defense to various claims might NOT be protected by an otherwise applicable statute of limitations. The premise enunciated in a decision that seeks affirmation from the U.S. Supreme Court, is that disgorgement is not monetary damages or a penalty. It is an equitable finding that a party has been unjustly enriched and therefore has no present right to hold onto ill-gotten gains. The decision could result in elimination of the statute of limitations as a defense for the banks.
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California Attorney General's Office Announces $150 Million Settlement with Financial Services Company Moody's For Inflating Mortgage-Backed Securities Ratings
highlandnews.net | January 15, 2017
LOS ANGELES – Acting Attorney General Kathleen A. Kenealy, along with the U.S. Department of Justice and the attorneys general of 20 other states and the District of Columbia, today announced an $863.8 million settlement with Moody's Corporation (Moody's), a business and financial services company, to resolve federal and state civil claims related to the company’s misconduct in inflating ratings of residential mortgage-backed securities.
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Chase-WAMU Letter Reveals "Expungement" and "Assignments" of Alleged Mortgages Not on the Books and Records of WAMU
livinglies.wordpress..com | January 11, 2017
There is an old saying on Wall Street that "Bulls make money, Bears make money but Pigs never do." The obvious circumstances of Chase claiming ownership to nonexistent loan portfolios contained within WAMU coupled with the admission in this letter to the FDIC, shows just how arrogant Chase felt when they informed the FDIC that they wanted to get paid by the FDIC for expunging documents and fabricating other instruments for "loans" that were not on the books and records of WAMU at the time of their purchase and sale agreement wherein Chase acquired the WAMU estate.
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MERS/GMAC Note and Mortgage Discharged
livinglies.wordpress..com | January 10, 2017
If only all courts would entertain the possibility that everything presented to them should be the subject of intense scrutiny, 90%+ of all foreclosures would have been eliminated. Imagine what the country would look like today if the mortgages and fraudulent foreclosures failed.
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Steve Mnuchin’s Bank 'Robo-Signed' 6,000 Foreclosures a Week
forward.com | January 7, 2017
Steve Mnuchin’s financial skeletons could come back to haunt him as he tries to win confirmation as President-elect Donald Trump’s Secretary of the Treasury. A leaked memo from the California Attorney General’s office that alleges his bank routinely violated the state’s laws in foreclosing on homes.
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Fannie Mae Announces New Foreclosure Prevention Program
fanniemae.com | January 7, 2017
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today its Flex Modification foreclosure prevention program, which is designed to help America’s families by offering reductions to their monthly mortgage payments. The Flex Modification leverages components of Fannie Mae’s Home Affordable Modification Program (HAMP®), which is set to expire at the end of this year, and the Fannie Mae Standard and Streamlined Modifications, which will be replaced by the Flex Modification in late 2017.
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Breaking News Archive


Letters From The Editor

Navient lawsuit: what student loan borrowers need to know
huffingtonpost.com | February 12, 2017
The U.S. Consumer Financial Protection Bureau is suing Navient Corp., the nation’s largest student loan servicer, accusing it of “systematically and illegally failing borrowers at every stage of repayment,” according to a press release from January 18. The CFPB is asking Navient to compensate the borrowers the agency says were harmed.
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David Collins v. Paul Financial, LLC, et al
February 12, 2017
Please find notice of a hearing to be held in the Los Angeles County Superior Court at Burbank on February 24th at 10:30 AM. I urge you all to attend and to bring family, friends, foreclosure victims, advocates and anyone you can think of to pack the courtroom.
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MARCIA SWIFT beats ANDY BEAL - We won our motion in Federal Court against Beal
January 29, 2017
BIG WIN for homeowner against the almighty BILLIONAIRE ANDY BEAL. This case labels ANDY BEAL's SECOND SUIT in federal court against the homeowner (while state ct case is still pending) was VEXATIOUS AND CONTRIVED.
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The Return of Non-Prime U.S. RMBS (What Investors Need to Know)
fitchratings.com | January 25, 2017
A new non-prime mortgage market is beginning to emerge in the U.S., almost 10 years after the subprime and Alt-A mortgage markets shut down amid dramatic underperformance. Fitch Ratings expects a notable increase in newly originated non-prime RMBS activity in 2017, though on a significantly smaller scale and with a higher credit quality than pre-crisis origination volume.
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Databank of CHF (JPMC) Robo-signers in California
December 7, 2016
ATTENTION CALIFORNIA HOMEOWNERS!!!!!!!! Are you a current, or were you California homeowner (between 2004 and present)? Was CHASE “HOME FINANCE, LLC” (“CHF”) now known as “JP MORGAN CHASE, N.A. (“JPMC”)” your lender, or loan servicer, or trust’s trustee? Did you receive any assignment(s) and/or substitution(s) of trustee from any source while CHF was the lender, or servicer, or the trust’s trustee?
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CFPB increases foreclosure protections
journal.firsttuesday.us | November 22, 2016
The Consumer Financial Protection Bureau (CFPB) has released new rules for mortgage servicers to follow when responding to mortgage delinquencies and pursuing foreclosure. Beginning October 19, 2017, mortgage servicers are to offer homeowners foreclosure protections more than once if the need for protection arises numerous times.
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New tool searches judge stats | Artificial intelligence predicts case outcomes | Cybersecurity insurance a 'must have'
October 26, 2016
This Month's Featured Technology Stories - ABA Journal Tech Monthly
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More legislation to help the BANKING CARTEL
October 25, 2016
For nonjudicial foreclosures which are resolved (e.g., reinstatement, foreclosure alternative, etc.) after the notice of default (NOD) is recorded, but before posting the notice of trustee’s sale (NOTS), the maximum base trustee’s fee has been increased.
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Did you ever wonder why YOU VICTIMS got checks for $100 for restitution from the banking cartel settlements with CORRUPT DOJ?
judicialwatch.org | October 25, 2016
The Department of Justice (DOJ) keeps giving radical leftist groups that support President Obama huge amounts of cash collected from big banks to settle discrimination and mortgage abuse lawsuits filed by the government.
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Latest Case on TILA RESCISSION NOTE: Disagreement Among Circuits Perhaps Ripe for USSC Review Remanded
justia.com | October 20, 2016
After plaintiff began missing loan payments on a house she bought in Long Beach, ReconTrust initiated a non-judicial foreclosure. In this case, the lender was Countrywide, the borrower was plaintiff and the trustee was ReconTrust. Plaintiff subsequently filed suit alleging that ReconTrust violated the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. 1692e(2)(A), by sending her notices that misrepresented the amount of debt she owed.
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Consumer Financial Protection Bureau structure ruled unconstitutional
usatoday.com | October 12, 2016
A federal appeals court Tuesday declared the structure of the federal Consumer Financial Protection Bureau unconstitutional, a decision that marks a major setback for one of the signature safeguards created after the U.S. financial crisis.
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Must Always Allege Damages and Specifically How You Were Harmed
justia.com | October 7, 2016
Here, borrower should have alleged "cloud on title" impairs his ability to market the home for sale.
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Judge rejected in its entirety the government's argument to hide Fannie & Freddie docs (follow-up)
October 7, 2016
This document may help explain why no one has been convicted of a crime in the mortgage scandal.
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Letters From The Editor Complete Article Listing


Products, Services & Training Classes

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—David Schaar

CFLA offers attorneys full foreclosure audits and strategies. Our expertise are Bloomberg Securitization Audits as well as complete turn-key Quiet Title Litigation solutions for licensed attorneys to competently sue lenders for state & federal Violations to either stop foreclosure, obtain legal damages, or both.

CFLA.com and Attorney State Bar Approved Continuing Education Training Classes (CLEs) are taught by trained CFLA industry experts. Our CLEs have been approved by the State Bars of TX, CA, FL, NV, NY, GA, and Hawaii. Bankruptcy Practice, Foreclosure Defense Strategies, Principal Reductions through Strategic Litigation, Mortgage Securitization in Litigation, and the Homeowners Bill of Rights are among the subjects presented during our CLE classes. CFLA keynote speakers include: Patricia Rodriguez, Esq; John Fretz, Esq; Andrew P. Lehman, J.D.; Divina Westerfield, Esq.; Regis Sauger, Charles Christmas, Esq; Timothy O’Reilly, Esq.; Amar Gupta, Esq.; and others.

Certified Forensic Loan Auditors also has created a Nationally Recognized Analyst Training Certification Course. Mortgage securitization and forensic loan auditing are presented during our professional 24-hr how-to class. There have been nearly 1,000 executive level professionals who have graduated from this program since 2009 in each of the following States: CA, NV, IL, NY, NJ, WA, DC, MD, GA, and FL.

Foreclosure Defense or Contract Dispute Litigation attorneys—contact us today to advertise your law firm via Sponsored Link Ads on our site.

Our Foreclosure Defense Litigation services include Mortgage Securitization Audits, Forensic Loan Audits, and Litigation Packages are among the full turn-key litigation support services provided to law firms and legal professionals.


Nation's Only Loan Analyst Certification Class—Register Immediately Seating is Limited


Student Testimonials

CFLA is the recognized leader throughout the U.S. as experts in Mortgage Securitization and Training. As founders and creators of this industry, we have long set the bar for expectations of a Auditing Company. Our experienced staff of Certified Auditors, Licensed Attorneys, Officers, and Employees are committed to continue to grow this entire industry and uncover hidden trade secrets to expose Banking Institutions of Predatory Lending, Mortgage Fraud and Securitzaiton Fraud.


CFLA Explains Quiet Title Package

CFLA performs tailor-made litigation support for every jurisdiction.
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In 2007, CFLA was founded by the Nation’s Leading Foreclosure Defense Attorneys to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud and Institutional Fraud. CFLA united some of the best minds in the legal and technological fields to make this vision a reality. The result is CFLA—the foremost, nationally recognized legal brand for law firms, attorneys, and small business across the United States. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. As the company continues to grow, we continue 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 our founding principle.

Call us today to obtain samples of work product, including Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and to get more information about our Nationally Accredited and Industry Acclaimed Forensic Loan Analyst Training Certification Classes (3 days). The Nation’s Only Certification Training Class for Analyts in this industry!


What is a Securitization Audit?


NEW CASE: Glaski Securitization Audits Can Prove Wrongful Foreclosure in California
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Mortgage Securitization Analyst Training
Certified Forensic Loan Auditors, LLC. has created a complete training certification program entitled: Mortgage Securitization Analyst "MSA"- A 20-hour in-person intensive seminar held across the country.
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"To simply assert mortgage fraud is one thing. But to provide the evidence that will stand up in court is another. CFLA has done an excellent job providing home owners and legal professionals the necessary & essential tools to prove a case on behalf of home owners. I have observed the growth and development of CFLA over the last several years. I am grateful for the dedication and commitment to excellence demonstrated by Andrew Lehman, the founder and chairman of CFLA and his network of legal professionals. Whether you are challenged with debt or wanting to help those who are, CFLA provides the clear and simple learning that empowers you with a new perspective & alternative remedies."
—Greg Johnson

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Mortgage Securitization Auditors, trained by CFLA, have been admitted as Expert Witnesses in nearly every jurisdiction nationwide and have a minimum of 10 years of industry related experience, 40 Hours of Classroom Training on Mortgage Securitization, and have been certified through our Nationally Recognized “Mortgage Securitization Analyst Training Certification Class.”
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Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
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Los Angeles, CA 90066

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