Would you like a bag of chips with your frozen loan audit?
Every day I get calls from attorneys or people facing foreclosure asking about my services as a forensic loan auditor and expert witness. Generally the callers are reasonably well informed about my work and know what they can and cannot expect from an audit. But yesterday a nice lady from Ohio called and asked for [...]
Read Full Post | Make a Comment ( 11 so far )Lynne Huxtable and Jeffrey Agnew, v. Timothy F. Geithner, et al.,
Lender’s refusal to modify loan may have violated borrowers’ Fifth Amendment rights to due process. ____________________________________________________________________________________________ LYNNE HUXTABLE and JEFFREY A. AGNEW, Plaintiffs, v. TIMOTHY F. GEITHNER, et al., Defendants. Case No. 09cv1846 BTM(NLS) UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF CALIFORNIA December 23, 2009, Decided December 23, 2009, Filed CORE TERMS: lender, public function, joint [...]
Read Full Post | Make a Comment ( 7 so far )Mortgage Assignment & Affidavit Fraud
In bankruptcy and government takeovers of financial institutions, missing collateral is a major obstacle for trustees and regulators to overcome. The missing assignment problem is an extension of not carelessness or sloppiness as many have claimed, but of overt acts of fraud. Skilled attorneys and forensic accounting experts could expose this fraud and as such, [...]
Read Full Post | Make a Comment ( 1 so far )Marcy Kaptur to Banks: “Produce The Note”
Fight Club entered popular culture in 1999 when director David Fincher adapted Chuck Palahniuk’s novel into a film that reflected the zeitgeist of modern America with its empty culture, obsession with aesthetic beauty, and slavish under and middle classes. Warning: Decade-old spoiler coming up. The film ends with the agents of “Project Mayhem,” protagonist Tyler [...]
Read Full Post | Make a Comment ( 1 so far )US Senate: STOP BEING STUPID
The legislation, introduced today by Senator Jack Reed of Rhode Island, would require lenders to evaluate all borrowers for affordable loan modifications before initiating foreclosure. It would also require banks to offer and approve a loan modification if the restructured mortgage returns more money, the so-called net-present value, to investors than would foreclosure. The proposal [...]
Read Full Post | Make a Comment ( None so far )LANDMARK NATIONAL BANK V. KESLER
No. 98,489 IN THE COURT OF APPEALS OF THE STATE OF KANSAS LANDMARK NATIONAL BANK, Plaintiff/Appellee, v. BOYD A. KESLER, Appellee/Cross-Appellant, MILLENNIA MORTGAGE CORP., Defendant, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. AND SOVEREIGN BANK, Appellants/Cross-Appellees, and DENNIS BRISTOW AND TONY WOYDZIAK, Intervenors/Appellees. SYLLABUS BY THE COURT 1. A party is not contingently necessary in a mortgage-foreclosure [...]
Read Full Post | Make a Comment ( None so far )U.S. partners in home loan modifications accused of broad abuses
WASHINGTON — Billions of dollars that the government is spending to help financially pressed homeowners avert foreclosure are passing through — and enriching — companies accused of preying on the people they are supposed to help, an Associated Press investigation has found.The companies, known as mortgage servicers, collect monthly payments from homeowners and funnel the [...]
Read Full Post | Make a Comment ( None so far )DEUTSCHE BANK NATIONAL TRUST COMPANY v. ROLANDO CAMPBELL, et al.
Deutsche Bank has some explaining to do. Why would they buy a nonperforming loan from MERS 142 days after a payment default? The instant foreclosure application states that defendant CAMPBELL defaulted on his mortgage payments by failing to make his April 1, 2007 and subsequent monthly loan payments. Yet, on August 20, 2007, 142 days [...]
Read Full Post | Make a Comment ( 4 so far )Washington Mutual v. Raymond & Rhonda Payne
WASHINGTON MUTUAL BANK, NA, Plaintiff, v. RAYMOND R. PAYNE AND RHONDA K. PAYNE, Defendants. Supreme Court, Suffolk County. Decided June 15, 2009. Shapiro & DiCaro, LLP, Rochester, NY, Attys. for Plaintiff. David Gevanter, ESQ., Hicksville, NY, Attys. for Defendants. THOMAS F. WHELAN, J. ORDERED that this motion (#004) by defendant, Raymond R. Payne, for an [...]
Read Full Post | Make a Comment ( 1 so far )Why banks want you all alone when negotiating a loan modification
They are telling you to run away from loan modification companies who charge a fee. They are paying the politicians to introduce laws making it difficult for you to hire an attorney when negotiating a loan workout. They want you to contact them directly and without the assistance of an advocate. They are scaring you [...]
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