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August 2018 Article Archive

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Sheila Bair Had a Plan to Make Banks Pay for Dishonest Dealing Causing the 2008 Crash
livinglies.wordpress.com | August 27, 2018
Sheila Bair (ex FDIC Chairwoman) has always understood. She was fired for understanding. It’s hard to understand that the TBTF banks were NOT speculating and never lost any money. Harder still to understand how they stole trillions of dollars from the US economy. And finally harder still to understand how “lenders” could cause a crash.
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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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