Foreclosuregate: here's the other shoe to drop

[Waiting For Everyman]

It's a nice, juicey RICO-flavored class action suit against MERS and friends, filed in Kentucky on 9/28/10. It could very well be that whatever worry is going on behind the scenes is about this. It sure takes MERS apart from A-Z, and explains it all. The scribd file follows the Market Ticket article below:

http://market-ticker.org/akcs-www?singlepost=2196166

Here's a standalone link for the PDF:

http://www.scribd.com/doc/38654717/Class-Action-vs-Mortgage-Electronic-Registration-Systems-Gmac-Deutsche-Bank-Nation-Star-Aurora-Bac-Citi-Us-Bank-Lps-Et-Al

It tells everything. Any of you who have an appetite for tedium, I urge you to dive in and read it. It's fascinating too.

Now I know why banks 'want' to foreclose (never could figure that out before). They get to keep the money when the investor is defunct (see footnote 5 on page 61. This will tell you why there's a really big problem with these notes. And beyond that, I think this suit is what the banksters are afraid of - why they panicked last week and got HR3808 rushed through (sorry, I don't believe in coincidence). Anyway, the attached file is a scorcher. I feel like I looked into the heart of darkness after reading it. The 'class' defined is all past and present MERS homeowners in all states, even those not harmed (yet). It makes the case that MERS is the primary reason for the mortgage meltdown. (I agree.)

As I understand it, there are two more, in Florida and Arizona. They may be different though, I didn't see any detail about them.

[glinda]

1. K & R n/t

[HCE SuiGeneris]

2. Thank you.

An excellent post.

[Waiting For Everyman]

13. You're welcome. :)

And thanks too. :)

[dixiegrrrrl]

3. Couple of things

4closurefraud dot org has copies of the many suits, including the 3 recent ones ( I read the MERS and the Kentucky class action one there).
The Kentucky class action is getting a lot of heat, I have not figured out yet why the critics are...criticizing it, they are saying it poorly written, has no chance, etc.

HR 3808 was introduced back in April. I figure something set off the banks then.
It passed Congress and went to Pres. in Sept. I wonder what was going on between April and Sept.
Congress can and has passed laws in just a few days when it wanted to ( TARP, anyone?)

[flyarm]

8. Exclusive Bombshell of Foreclosure Fraud – Full Deposition of TAMMIE LOU KAPUSTA

Exclusive Bombshell of Foreclosure Fraud – Full Deposition of TAMMIE LOU KAPUSTA Law Office of David J Stern


http://4closurefraud.org/2010/10/07/exclusive-bombshell-of-foreclosure-fraud-full-deposition-of-tammie-lou-kapusta-law-office-of-david-j-stern/

“I personally did not do it because I refused to do it.”
“I wasn’t going to falsify a military document.”
“I was told that that’s fine, somebody else on your team will do it.”

Posted by Foreclosure Fraud on October 7, 2010

***be sure to read this part of the deposition ..and understand what was going on illegally with our military personel's social security numbers to gain documennts on other military people!

......................................................................

PAY ATTENTION TO THIS SECTION!!

They
23 would be stamped and signed by a notary or not. Per
24 floor we had a designated spot to place them and Cheryl
25 would come once a day and sign them.
22
1 Q Sign them as what?
2 A As –
3 Q For the bank?
4 A Correct.
5 Q Or for MERS or whoever it was for?
6 A Correct.
7 Q Would these notaries be there watching her as
8 she signed?
9 A No.
10 Q She would just sit there and sign stacks of
11 them?
12 A Correct. As far as notaries go in the firm I
13 don’t think any notary actually used their own notary
14 stamp. The team used them.
15 Q There were just stamps around?
16 A Yes.
17 Q And you actually saw that?
18 A I was part of that.
19 Q You did it? Are you a notary?
20 A No, I’m not.
21 Q Did you sign as a witness?
22 A I did not. I signed as a witness on one
23 document and after that I decided that I didn’t want to
24 put my name as a witness anymore.
25 Q Tell me about the stamps. You stamped them?
23
1 A Yeah, I had stamps. Each team had a notary on
2 them or notaries that I was aware of. Whether they were
3 or weren’t wasn’t –
4 Q You had stamps?
5 A Correct. We would stamp them and they would
6 get signed.
7 Q Stamp them in blanks?
8 A Yes.
9 Q Who would sign them?
10 A Other people on the team that could sign the
11 signature of the person or just a check on there or
12 whatever.
13 Q Was that common practice?
14 A Yes.
15 Q Was that standard practice?
16 A Pretty much.
17 Q What about the witnesses?
18 A Those would be signed by juniors who were –
19 Q Standing there?
20 A Here, sign this. It has to go to Cheryl, sign
21 it. Then it would go and sit at the desk where Cheryl
22 would sign everything.
23 Q Out of view of the notary and out of view of
24 the witnesses?
25 A Correct.
....
9 A There were people that were responsible for
10 signing Cheryl’s name. Cheryl, Tammie Sweat, and Beth
11 Cerni. Those were the only three people that could sign
12 Cheryl’s name. If you ever look at assignments you’ll
13 see that they are not all the same.
....
1 Q What do you mean falsify a military document?
2 A Well, I’m using the main defendant’s social
3 security number on somebody else’s name, not his name.
4 John Doe and the main defendant was James, I was taking
5 James’ social security number and putting John Doe’s
6 name in there. I wasn’t but that’s what the practice
7 was. The judges started saying we’re not going to
8 consider service completed until –
9 Q There’s a miliary search?
10 A Correct.
11 Q So why wouldn’t they use the right social
12 security number for the right person?
13 A Because you don’t have a social for an NKA or
14 unknown tenant. They wouldn’t enter a final judgement
15 unless the military doc was there.
16 Q So you just used anybody’s?
17 A Correct.



..........................

wonder how many Vets this was used on??

Or perhaps some military with info on illegal activity ..in say >>>IRAQ? or AFGHANISTAN...WHO COULD HAVE BEEN OR COULD BE IN THE FUTURE.. threatened with this????????? Think of the implications of this and the possiblity of the abuse of this against our military??????????? lIKE SAY ENLISTED MILITARY ..WHO COULD NOW LOSE THEIR HOMES IF THEY TOLD WHAT THEY SAW THAT WAS ILLEGAL..OR SAW WAR CRIMES THEY WITNESSED..the ramifications and implications of this could be devistating !

[WillyT]

26. Great Info, Fly !!!

Did you already OP this ? Because if not, you should.

:yourock:

:kick:

[flyarm]

30. someone else did in slightly different way but theirs was fine..they posted before I got mine

completed. So I didn't post mine.

[WillyT]

27. Also... Check This Out !!! - Looks Like Some Folks Are Really Worried !!!

Statement by CEO of Mortgage Electronic Registration Systems (MERS)
Posted on Sat, Oct. 09, 2010 07:37 AM

Link: http://www.kansascity.com/2010/10/09/2293504/statement-by-ceo-of-mortgage-electronic.html

:shrug:

:hi:

[flyarm]

31. seems to me there is a shit load of panic going on..and alot of CYA going on!

these big boys thought they were going to get their bill passed and us regular schlups would never know..and no one would be the wiser..

Thank goodness for Ohio Secretary of State Jennifer Brunner ..and the State of Kentucky.

Ohio Secretary of State Jennifer Brunner posted the info on Facebook and emailed her supporters..starting an email campaign to get the truth out about this cover up bill!

Jennifer is really the hero in all of this ..on the side of We the People.

As I see it anyway!

[WillyT]

32. Did You Catch This ???

Link: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9286888

:shrug:

[flyarm]

34. yeah i read that all yesterday and sent it out to all my internet groups last night.,

what we have to watch now is the MSM playing this as just a little blip and their mis- information..I just heard a little blurb on CNN and they are attempting to play this low and give very little info on what has really gone on here..so it is imperative we send all this information out to everyone we know in as many states as we have on our email lists..and then even post if you go to space book ..( which i don't) ..but i have huge email lists of internet people who get info out in almost every state ..i have been shooting this stuff all over the country for days now and keep adding to it with each new revelation!

It is over whelming unless you read it all, and connect all the dots for people..so they understand it..in lay terms.

here is some of the stuff I have sent out nationwide..I am going to post what I have in my out box..it is not in order..


but do read through them all!!

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Boiler Rooms, Foreclosure Mills: The Story of America’s Mortgage Industry Boiler Rooms, Foreclosure Mills: The Story of America’s Mortgage Industry
By Michael Hudson | October 7, 2010, 12:33 pm

http://www.publicintegrity.org/blog/entry/2507 /

Updated: 10/7/2010, 3:33 pm | The news about the nation’s foreclosure scandal has been coming fast and furious, driven by tales of backdated documents, false affidavits and “rocket dockets” that push families into the street.

A former employee with one of the nation’s largest lenders testifies that he signed off on 400 foreclosure documents a day without reading them or verifying the information in them was correct.

Ex-employees of a law firm that serves as a “foreclosure mill” for major lenders describe a workplace where speed — not accuracy or justice — trumps all. “Somebody would get a 76-day foreclosure,” one recalled, “and then someone else would say, ‘Oh, I can beat that!’”

Shocking stuff. But surprising? Not for anyone who’s been tracking the recent history of the mortgage machine. Just about every corner of the America’s mortgage industry has been blemished by significant levels of fraud over the past decade.

(read more at the link)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Shi$ Hitting Fan: Tavakoli - Biggest Fraud In The History Of Capital Markets
Shi$ Hitting Fan: Tavakoli - Biggest Fraud In The History Of Capital Markets
by Badabing
Fri Oct 08, 2010 at 05:30:39 PM PDT

...As the Foreclosure Mill thugs working for the Banks and Lenders began in earnest to provide false affidavits and have swept throughout American cities like a crazed mass of locusts, picking of the bones of innocent Americans who knew without a doubt, that they were being illegally foreclosed upon, the critical mass of corruption finally reached it's zenith, just as so many of these great leaders warned us about.

I find it absolutely incomprehensible that Timothy Geithner and Ben Bernanke and AG Holder have sat back in silence while these bunch of 'hoodlums' have been allowed to strip Americans of their legal rights to pursue what used to be called 'due process' in our nation's courts, to demand that the Banks and Lenders provide correct origination documentation of the original loans on their homes.

Janet Tavakoli is now saying that every bank is about to shut down all foreclosures, in what she calls the "biggest fraud in the history of capital markets. She is also stating that within a month, all foreclosures executed within the past 2-3 years will be retried, and millions of existing home sales will be put in jeopardy.

What this essentially will mean for what is left of the national housing market is a nightmare, beyond our wildest dreams. We are only beginning to see the final Iceberg coming into view, that could very well finally destroy all homes values, and credibility in our entire Banking system, the could finally go over the cliff, because of their own greed and malfeasance.

MUCH MORE AT: http://www.dailykos.com/story/2010/10/8/908857/-Shi$-Hi...


xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


The following is part of the interview conducted by Ezra Klein:


Ezra Klein: What’s happening here? Why are we suddenly faced with a crisis that wasn’t apparent two weeks ago? Janet Tavakoli: This is the biggest fraud in the history of the capital markets. And it’s not something that happened last week. It happened when these loans were originated, in some cases years ago. Loans have representations and warranties that have to be met. In the past, you had a certain period of time, 60 to 90 days, where you sort through these loans and, if they’re bad, you kick them back. If the documentation wasn’t correct, you’d kick it back. If you found the incomes of the buyers had been overstated, or the houses had been appraised at twice their worth, you’d kick it back. But that didn’t happen here. And it turned out there were loan files that were missing required documentation. Part of putting the deal together is that the securitization professional, and in this case that’s banks like Goldman Sachs and JP Morgan, has to watch for this stuff. It’s called perfecting the security interest, and it’s not optional.

EK: And how much danger are the banks themselves in? JT: When we had the financial crisis, the first thing the banks did was run to Congress and ask for accounting relief. They asked to be able to avoid pricing this stuff at the price where people would buy them. So no one can tell you the size of the hole in these balance sheets. We’ve thrown a lot of money at it. TARP was just the tip of the iceberg. We’ve given them guarantees on debts, low-cost funding from the Fed. But a lot of these mortgages just cannot be saved. Had we acknowledged this problem in 2005, we could’ve cleaned it up for a few hundred billion dollars. But we didn’t. Banks were lying and committing fraud, and our regulators were covering them and so a bad problem has become a hellacious one.

EK: My understanding is that this now pits the banks against the investors they sold these products too. The investors are going to court to argue that the products were flawed and the banks need to take them back. JT: Many investors now are waking up to the fact that they were defrauded. Even sophisticated investors. If you did your due diligence but material information was withheld, you can recover. It’ll be a case-by-by-case basis. EK: Given that our financial system is still fragile, isn’t that a disaster for the economy? Will credit freeze again? JT: I disagree. In order to make the financial system healthy, we need to recognize the extent of our losses and begin facing the fraud. Then the market will be trustworthy again and people will start to participate. EK: It sounds almost like you’re saying we still need to go through the end of our financial crisis. JT: Yes, but I wouldn’t say crisis. This can be done with a resolution trust corporation, the way we cleaned up the S&Ls. The system got back on its feet faster because we grappled with the problems. The shareholders would be wiped out and the debt holders would have to take a discount on their debt and they’d get a debt-for-equity swap. Instead we poured TARP money into a pit and meanwhile the banks are paying huge bonuses to some people who should be made accountable for fraud. The financial crisis was a product of our irrational reaction, which protected crony capitalism rather than capitalism. In capitalism, the shareholders who took the risk would be wiped out and the debt holders would take a discount but banking would go on....

http://voices.washingtonpost.com/ezra-klein/2010/10/thi...


MUCH MORE AT: http://www.dailykos.com/story/2010/10/8/908857/-Shi$-Hi...


xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


Attorneys General in 40 States Said to Join on Foreclosures Fri Oct-08-10 09:58 PM

40 states !!!!!!

The game of musical chairs has begun.
WHO will be left owing how much on gazillions of dollars of fraudulent Mortgage bonds?

Attorneys general in about 40 states may announce a joint investigation into foreclosures at the largest banks and mortgage firms, according to a person with direct knowledge of the matter.

State attorneys general led by Iowa’s Tom Miller are in talks that may lead to the announcement of a coordinated probe as soon as Oct. 12, said the person, who declined to be identified because a final agreement hasn’t been reached. The number of states may change because several are still deciding whether to join the investigation, the person said. New Mexico Attorney General Gary King said today in a statement that his state will join a multi-state effort.

Lawyers representing the banks are expecting a more widespread investigation, according to Patrick McManemin, a partner at Patton Boggs LLP, a Washington-based law firm that represents banks, loan servicers and financial institutions. Bank of America Corp., the biggest U.S. lender, today extended a freeze on foreclosures to all 50 states.

http://www.bloomberg.com/news/2010-10-08/attorneys-gene...

And why this rush by everybody to investigate?

Perhaps this:

'This is the biggest fraud in the history of the capital markets'

Janet Tavakoli: This is the biggest fraud in the history of the capital markets. And it’s not something that happened last week. It happened when these loans were originated, in some cases years ago.

http://voices.washingtonpost.com/ezra-klein/2010/10/thi...

[CoffeeCat]

36. When that bill went flying....

...through Congress and landed on Obama's desk--at warp speed, I knew something was off.
The banksters were covering their butts big time. I did not understand this situation
completely (and I'm still reading and learning), but there are two things that are obvious.

1.) The banks have completely and totally screwed over the American people

2.) The banks have incredible access to our government and they are able to get a bill written
and passed by our House and Senate in just a few days. If we aren't having nightmares
about that point-of-fact--we should. How many other pieces of legislation have been passed
and signed into law without our knowledge?

Wasn't this bank bill passed unanimously by the House and Senate? Doesn't that pretty much
tell us everything we need to know? They're ALL in on it. Democrats and Republicans
are ONE party--serving at the behest of the corporations.

This situation is but one example of how we lack a democracy. I don't know what you'd call
our government, at this point--but it sure as hell isn't a democracy.

[flyarm]

37. no one knows or can know how many in congress and the senate voted for this bill

it was a roll call vote with no recording of who did or didn't vote for it!

this was in the comment section of the article by : by Jennifer Brunner

It is a must to read although now almost a week old..to understand what has gone down here..it is a must read!

http://www.dailykos.com/story/2010/10/5/907016/-President-Obama-Should-Not-Sign-the-Interstate-Recognition-of-Notarizations-Act

President Obama Should Not Sign the Interstate Recognition of Notarizations Act
Share44 8by Jennifer Brunner
Tue Oct 05, 2010 at 03:31:19 PM PDT

xxxxxxxxxxxxxxxxxxxxxxxxxx
comment by : by bronte17 on Tue Oct 05, 2010 at 03:54:35 PM PDT

Passed by Unanimous Consent - record was not kept


H.R. 3808

Rep. Robert Aderholt sponsored the bill and the cosponsors were: Bruce Braley , Michael Castle , and Artur Davis

Apr 27, 2010: This bill passed in the House of Representatives by voice vote. A record of each representative’s position was not kept.

Sep 27, 2010: This bill passed in the Senate by Unanimous Consent. A record of each senator’s position was not kept.

[wuvuj]

60. Shadow Govt?

1.) The Shadow Govt has completely and totally screwed over the American people

2.) The Shadow Govt has incredible access to our government and they are able to get a bill written and passed by our House and Senate in just a few days. If we aren't having nightmares about that point-of-fact--we should. How many other pieces of legislation have been passed and signed into law without our knowledge?

THINK Patriot Act and so forth??????

[Waiting For Everyman]

12. Do you mean

the homeowners' side is worried about it or the banks? Yes, there are editing errors but who knows what's the norm in a KY court. From the banks' pov, I would think that it would worry them even if they thought it would be shot down. Nobody knows what's going to happen in a courtroom, after all.

In April? I'm guessing one of the various court decisions probably came in, it seems like there has been one decided every few weeks or months. A bunch of them have had forgeries, that's a common theme. Maybe a case back then focused on it more than others, dunno. The archives of those advocates' sites might turn up a clue to that.

In early Sept., that was when the attorney Cox in Maine was deposing the 1st outted robosigner, and it's when Jennifer Brunner requested prosecution. Those were the beginning events. I think too that's roughly when the FL case started(?) I don't have all the dates exact in my head.

The banks sure seem spooked to me, though. As Market Ticker said, it's always the coverup that gets you. Passing that bill the way they did, drew attention to it. That was a 'tell'.

[Hamlette]

71. it was first passed by the House in 2007

then killed in the Senate committee. It actually passed the House 3 times.

http://www.huffingtonpost.com/2010/10/09/obama-clarifies-pocket-ve_n_756873.html

[defendandprotect]

4. K&R

[gateley]

5. I should be embarrassed to ask, but... what caused the banks to halt foreclosures

over the past several days? I read where Reid asked them to, or something like that, but it's not as though they do what's requested of them unless they can benefit. :shrug:

[Xipe Totec]

7. The foreclosures are based on fraudulent forged documents

If they submit them, they are criminally liable.

[gateley]

54. Ah, I knew it wasn't an altruistic move. Thanks! nt

[flyarm]

9. Read my post #8 and go to the link! and read it!

and then go to this link on DU..


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=9286302&mesg_id=9286302


and understand this Our Congress and Senate were attempting to cover this all up for the banks ( the too big to fail banks) when they passed a bill in April of this year with a roll call vote and no records were kept of who voted for the bill and who did not..basically it was a SECRET VOTE!

THE BILL WAS SENT TO OBAMA IN SEPT TO SIGN INTO LAW. OBAMA DID NOT SIGN IT. At the time the Bill was sent to Obama a couple states had begun RICO lawsuits on the Banks and begun investigations.

We do not know who voted for this bill to cover this up and attempt to make this fraud legal, because this congress would not record who voted for this piece of shit bill!

But one thing is for sure..Patrick Leahy was involved in this bill going forward.


Bill may make it harder to contest foreclosures - Business - ...
Story: Foreclosures seen slowing as document flaws emerge ... Judiciary Committee Chairman Patrick Leahy pressed to have the bill rushed through the special ...

www.msnbc.msn.com/id/39556377/ns/business-real_estate - Similar
Senate Shockingly Passes Bill That Could Bail The Banks Out Of ...
Oct 7, 2010 ... phoenix foreclosure The hottest story right now in the banking industry ... Committee Chairman Patrick Leahy pressed to have the bill rushed ...

www.businessinsider.com/bank-foreclosure-bill-leahy-2... - Similar
Think Progress » Obama To Veto 'Robo-Foreclosure' Bill
Oct 7, 2010 ... 43 Responses to “Obama To Veto 'Robo-Foreclosure' Bill” .... We must call, write , and otherwise pester Patrick Leahy and Bob Casey until ...

thinkprogress.org/2010/10/07/obama-vetos-banks/ - Similar
Obama Pulls a Pocket Veto on Foreclosure Bill - Truthdig
Oct 7, 2010 ... TAGS: bill foreclosure mortgage notary obama pelosi pocket veto subprime ... unanimous consent, Patrick Leahy D VT., the same one who is ...

www.truthdig.com/eartotheground/item/obama_pulls_a_po... - Similar
How The Controversial Foreclosure Bill Made It Through ...
Oct 7, 2010 ... How The Controversial Foreclosure Bill Made It Through Congress ... This will search the titles of the threads in the Patrick Leahy forum ...

[KurtNYC]

25. the MSM covers for the Congress which covers for the banks !

The MSM calls outright fraud and perjury: "document flaws"

The Senate, now in the pocket of the remaining banks, and doing their bidding "shockingly." Perhaps a more accurate adverb would have been "whoringly", as in "Senate Whoringly Passes Bill..."

[gateley]

53. Okay! On my way!

:hi:

[JackRiddler]

11. The publicity about what they are doing exposes them to a big fat wave of lawsuits.

They were rushing literally around the clock to foreclose on as much as possible.

Now that this is turning into an issue and the first legal moves against them have been made, they will only be digging a deeper hole.

The fact that they did stop shows the mammoth extent of the frauds and their vulnerability to legal action.

The delayed crash of 2007-2009 is likely to proceed imminently.

See my sig line.

[Xipe Totec]

6. See, without standing they can't foreclose, but then we get back to "who can?"

And what we find is that the originator was paid, and thus they can't either. Worse, for those originators that are bankrupt, their "assets", such as they are, can't go anywhere without a bankruptcy trustee's signature, and further, even if someone was to acquire that, which nobody has, THE REMICs CAN'T TAKE THE PAPER ANYWAY AS THEIR CLOSING DATE HAS EXPIRED.

I'm rolling on the floor laughing my ass off!

:rofl:

Oh, man, my sides hurt.

[Hannah Bell]

10. "They get to keep the money when the investor is defunct " - could you explain that a bit more?

the footnote didn't help.

specifically, *what* money, *which* investor?

The logical question raised is “what does the Servicer, like GMAC have to gain by foreclosing.” The Answer comes from the plain language of the standard Prospectus and Pooling and Service Agreements, which allow the Servicers to keep the proceeds of the foreclosures when the MBS has been closed or the investors paid off.

[Waiting For Everyman]

21. Sure...

When the (supposed) lender no longer exists (a bankrupt bank or a closed out Trust), then the servicer keeps the proceeds of the foreclosure sale - all of it. I assume the servicer gets to keep the monthly payments too, if the loan is current, but a foreclosure would be more worthwhile. Remember, in that case, there's no mortgage to pay off (and that's going to be my foreclosure defense, right there, because my investor was Lehman). I'd say that's a BIG incentive to foreclose. Somehow, nobody ever mentioned that fact before.

All I ever heard was, 'the bank doesn't want to foreclose, why would it want to be stuck with a house?' Well, foreclosure in that circumstance is big money for these banks. It's free and clear, a gift. Instead of a fee, they get it all. (That, in itself, is crazy. That is a swindle, right there. Why should the bank get the full value of the house, any more than the homeowner getting it free? What's the difference there... except that the homeowner at least has put some skin into it.)

I don't think they planned on being unable to get title insurance on their foreclosures though.

[Hannah Bell]

23. ok, it's getting clearer. what i'm still unclear about is the distinction between the

original lender & the "servicer" & also how this fits in with the fact that these mortgages were reportedly "sliced & diced" & sold off in pieces to "investors".

[Celebration]

61. why weren't these assets

Assigned or sold during the bankruptcy? That makes no sense.

[malaise]

14. So who's going to prison for this criminality? n/t

[grasswire]

16. did anyone go to prison for the S&L debacle?

I can't remember.

[Xipe Totec]

17. No RICO was filed in that case

But in this case there this is a criminal complaint.

[flyarm]

19. I specifically remember RICO cases against Bush and Cheney over 9/11

it went no where..........

call me jaded.

[Xipe Totec]

20. Show me the links

I am looking at an actual court filing.

http://www.scribd.com/doc/38654717/Class-Action-vs-Mortgage-Electronic-Registration-Systems-Gmac-Deutsche-Bank-Nation-Star-Aurora-Bac-Citi-Us-Bank-Lps-Et-Al

Not some media noise, or threat to file.

[flyarm]

29. see if this link still works for you..it is old..obviously! from my files.

http://www.nancho.net/911/mariani.html

[Xipe Totec]

39. Link is old, but I did my own research

FEDERAL DEFENDANTS’ MOTION TO DISMISS COMPLAINT WITH PREJUDICE

The United States of America, by its attorneys, Patrick L. Meehan, United States Attorney for the Eastern District of Pennsylvania, and Viveca D. Parker, Assistant United States Attorney for the Eastern District of Pennsylvania, on behalf of itself and all federal agency and employee defendants named herein, hereby moves this Court to dismiss with prejudice the complaint filed herein on grounds of failure to exhaust administrative remedies, statute of limitations, improper venue, improper parties, and improper service. In support of its motion, the United States submits the accompanying memorandum of law.

http://www.kentlaw.edu/perritt/courses/civpro/motdismiss.pdf


Not a serious filing.

[flyarm]

43. Oh it was serious..our government made it" not serious" as did our courts ..

don't you know how they do that?????? Especially under Ashcroft??????????

[Xipe Totec]

44. I read the court document. I advise you do the same nt

[flyarm]

49. I actually Know the woman..as I did public speaking on 9/11 with Max Cleland in 2004..for the dem

party.

I know what the Court Documents say..and I know the truth from the party involved.

[Xipe Totec]

51. Irrespective of what one may take to be the truth, courts are about procedure

If procedure is not followed, you can never get to the point where the facts are evaluated.

The case was dismissed because it was fundamentally flawed from the moment it was filed.

You have to have standing before the court before you can be heard.


If you think procedure is getting in the way, read "A Man for all Seasons"

http://www.youtube.com/watch?v=WMqReTJkjjg

[flyarm]

57. You are correct..

but when the government doesn't want truth at all costs..they stack the courts..we all saw that during the Bush regime!

[flyarm]

18. or Enron????? How about AIG? or Goldman ? Hell this white house is surrounded with Goldman folks!

they get bonus's for fucking us schlups!

while they steal our homes and our equities and our pensions..and robbing the public schools of our tax money..while filling charter school with pentagon pigs!

Ahhh ..they love to love you baby! As long as they are robbing you blind!

[tammywammy]

47. People did go to prison over Enron. Fastow plead guilty, Skilling was convicted and Lay died n/t

[flyarm]

50. and they all got out early....

[tammywammy]

52. Key Lay died. Fastow & Skilling are still IN prison. n/t

[flyarm]

58. you are correct..I thought i heard Skilling got out this summer..but he didn't

My memory failed me..I was thinking he got out but he didn't get out on bail ..as per this:

http://www.businessweek.com/news/2010-07-29/enron-s-skilling-seeks-bail-while-appealing-fraud-convictions.html

[lonestarnot]

65. Charles Keating.

[JDPriestly]

69. Yes. Check out Lincoln Savings.

Keating. There were other convictions for fraud related to the savings & loan crisis.

[Waiting For Everyman]

24. Maybe these guys will.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9284527

[mzmolly]

33. How long does the country have to send someone

to prison? Must it be accomplished before November?

[Riley18]

15. Does the bank get to keep the money if the investor is Fannie Mae?

Sorry to ask, but wonder what is in it for the bank not to modify a mortgage instead of foreclosing. The banks generally do not allow modifications under any circumstance instead they foreclose. I figure there has to be a tax write-off for them as well. Not really sure though.

[WillyT]

22. HUGE K & R !!!

:kick:

[KurtNYC]

28. Am I wrong to understand the suffix "gate" to mean: impeachable offense ?

To me it refers back to Watergate which ended Nixon's criminal presidency. Since then it has been almost exclusively applied by RW-owned media to Democratic Presidential scandals and alleged mis-deeds. The MSM was banging the "gate" drum weekly during the Clinton admin: File-gate, haircut-gate, Monica-gate, etc. They are still trying to even the score.

In the present instance it seems to be try to pin the foreclosure frauds and perjuries on Obama ?!

[flyarm]

35. who gives a damn what it means..IF crimes have been committed and who ever is responsible up to and

including a possible cover up by our congress ...and where ever it leads...whoever was attempting to commit crimes of covering up or committing the crimes should and must be held accountable to their employers..US..we the people!

Thats the way it used to work..commit a crime ..pay the time! and pay the consequences ..who ever it is!

This MUST Be Investigated to the fullest extent of our laws!

This effects every home owner in this nation. This effects pensions, some huge pensions..like teachers, and construction workers and state workers.. and the largest investments of we the people! Our homes!

It effects each and every state and our state laws.

It effects our IRS, it effects state taxes, it effects corps who have tax exemptions..

It effects each and every American!

And who ever commited any crimes If crimes have been committed , there must be investigations ..no matter who they are ..and if crimes were committed..those responsible must be held accountable to our law!

[Xipe Totec]

38. Count III KRS 434.155 Filing Illegal Liens

Plaintiff incorporates by this reference each and every paragraph of this Complaint as if set forth fully herein

A person is guilty of filing an illegal lien when he files a document or lien that he knows or should have known was forged, groundless, contained a
material misstatement, or was a false claim.

Filing an illegal lien is a Class D felony for the first offense, a Class C felony for any second offense, and a Class B felony for any subsequent offense.

The Defendants filed an illegal lien in the way of an Assignment of Mortgage against the Plaintiffs’ and Class Members property.

There were tens of thousands of illegal liens filed.

[flyarm]

41. Thank you for posting that,.and no one will convince me that Leahy didn't know what was in the Bill

he sent to Obama!

and no one will tell me that this was not a cover up..just the way the bill was passed!


Passed by Unanimous Consent - record was not kept


H.R. 3808

Rep. Robert Aderholt sponsored the bill and the cosponsors were: Bruce Braley , Michael Castle , and Artur Davis

Apr 27, 2010: This bill passed in the House of Representatives by voice vote. A record of each representative’s position was not kept.

Sep 27, 2010: This bill passed in the Senate by Unanimous Consent. A record of each senator’s position was not kept.


........................................................



***just do a little google of : Senator Patrick Leahy and Foreclosures..

This is just the first few hits..

Bill may make it harder to contest foreclosures - Business - ...
Story: Foreclosures seen slowing as document flaws emerge ... Judiciary Committee Chairman Patrick Leahy pressed to have the bill rushed through the special ...

www.msnbc.msn.com/id/39556377/ns/business-real_estate - Similar
Senate Shockingly Passes Bill That Could Bail The Banks Out Of ...
Oct 7, 2010 ... phoenix foreclosure The hottest story right now in the banking industry ... Committee Chairman Patrick Leahy pressed to have the bill rushed ...

www.businessinsider.com/bank-foreclosure-bill-leahy-2..... - Similar
Think Progress » Obama To Veto 'Robo-Foreclosure' Bill
Oct 7, 2010 ... 43 Responses to “Obama To Veto 'Robo-Foreclosure' Bill” .... We must call, write , and otherwise pester Patrick Leahy and Bob Casey until ...

thinkprogress.org/2010/10/07/obama-vetos-banks/ - Similar
Obama Pulls a Pocket Veto on Foreclosure Bill - Truthdig
Oct 7, 2010 ... TAGS: bill foreclosure mortgage notary obama pelosi pocket veto subprime ... unanimous consent, Patrick Leahy D VT., the same one who is ...

www.truthdig.com/eartotheground/item/obama_pulls_a_po..... - Similar
How The Controversial Foreclosure Bill Made It Through ...
Oct 7, 2010 ... How The Controversial Foreclosure Bill Made It Through Congress ... This will search the titles of the threads in the Patrick Leahy forum ...

[Xipe Totec]

45. Yes. When Democrats and Republicans suddenly find common ground, You hear their master's voice

Very disturbing.

I'm glad voices were raised before Obama had a chance to sign that piece of shit into law.

[davidwparker]

55. +1

Yes, he knew. And BoA stopped foreclosures when their jig was up and continuing foreclosures would increase future liability.

Go with the obvious. You will generally be correct.

[Xipe Totec]

40. Quiet Title - Page 94

The Plaintiffs are entitled to have their properties as referred to herein quieted in their names until and unless some party comes forward in this litigation who has a right to enforce the loans upon their houses free and clear of all encumbrances.

As alleged in the above paragraphs, the loans on these home were specifically designed to result in equity stripping by loaning funds at the same time to these Plaintiffs as to other borrowers that were intended to fail.

The originators of the loans were brokers of loans and intended to place the loans but to never be the “lenders” that they purported to be.

The originators of the loans, were, in fact, a means by which MERS and the Defendants could insulate themselves from liability for the breach of contract, the violation of lending and recording laws, and for all the reasons stated in the allegations of this Complaint.

The Defendants have not loaned any money to the Plaintiffs.

The Defendants have no contractual relationship with the Plaintiffs.

The Defendants are not the holders in due course of the promissory notes on the Plaintiff’s properties.


I LOVE IT!

[Xipe Totec]

42. Claimed Damages are 2.5 billion dollars for the plaintiff class

With treble damages under RICO, that's 7.5 Billion dollars.

Plus taxes owed to the State of Kentucky.

Plus taxes owed to the US Govenrment.

Plus attorneys fees and court costs...

Concluding Paragraph:

Upon information and belief, the Defendants, did not and cannot legally obtain foreclosures and/or file an Assignment of the Notes or Mortgages of the representative Plaintiffs or the putative Class Members. Neither the Defendants or MERS had capacity or standing to file suit or foreclose on property.

In conspiracy with each other, the Defendants, filed fraudulent mortgages, affidavits, and mortgage assignments, filed sham pleadings and committed and continue to commit fraud on the recording clerks and the Courts.



Man, that was a long read, but well worth it!

Thank you for posting!

[flyarm]

46. Make sure to read the first link in the OP tread and then what I have posted here:

from first link in Op's thread.......

No legal plan was ever in place to deal with the fact that the original Prospectus to the shareholder/investors was a myth.

xxxxx

MBS/Trustees and their lawyers discovered in the foreclosure process that the Note and Mortgage Assignments would never be located because they never existed. They also discovered that states did not allow blank Assignments or Assignments with retroactive effective dates. To solve the problem of the missing and non-existent Assignments, the MBS/Trustees, their attorneys and their Servicing Agents, decided to fabricate Assignments from thin air and then quietly record the fabricated Assignments.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx



It's never the original issue that really gets you - it's your attempt to cover it up!

The Assignments of the Mortgage were signed and notarized many years after the actual date of the loan and the date listed with the SEC and IRS as the “Closing” of the REMIC. In every one of these cases, the MBS Trust has been operating illegally as a tax exempt REMIC. The federal government is in turn, owed billions of dollars in income tax from these entities. The individual states of the union has causes of action on behalf of their citizens for the unpaid state tax.Yep. And the really bad news is that as soon as these things happened the loss of tax exemption is not only immediate, it's irrevocable.

As previously set out, often the MERS held the Mortgage as “nominee” for a lender who was out of business and/or liquidated in bankruptcy. There could be no party legally able to Assign the Mortgage on behalf of the dissolved lender. The only party who could authorize the Mortgage Assignment for a bankrupt lender would be the Bankruptcy Trustee. In these cases where a MERS mortgage has been assigned on behalf of a bankrupt entity, a criminal violation of the bankruptcy code had occurred.



xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

now read this that was posted this week on DU..........



SOMEONE POSTED THIS ON DEMOCRATIC UNDERGROUND..
sorry I didn't keep the posters name..I wish I could credit that poster, but I can not..


62 million homes may be foreclosure-proof ... what you need to know
Fri Oct-08-10 06:42 PM
I'm putting this in GD rather than Editorials so that the maximum number of people will see it.

If you're in foreclosure or default, this article sums up the reasoning for a defense which has worked in numerous states, and it lists the main case citations you'll need to show your lawyer as a beginning point. I'm in the same boat (for 2 years, representing myself with the help of info on the net) so good luck to us all.

HOMEOWNERS' REBELLION:
COULD 62 MILLION HOMES BE FORECLOSURE-PROOF?

Ellen Brown, August 18th, 2010

http://www.webofdebt.com/articles/homeowners.php

<snip>

Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property titles—and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof.

<snip>

MERS was developed in the early 1990s by a number of financial entities, including Bank of America, Countrywide, Fannie Mae, and Freddie Mac, allegedly to allow consumers to pay less for mortgage loans. That did not actually happen, but what MERS did allow was the securitization and shuffling around of mortgages behind a veil of anonymity. The result was not only to cheat local governments out of their recording fees but to defeat the purpose of the recording laws, which was to guarantee purchasers clean title. Worse, MERS facilitated an explosion of predatory lending in which lenders could not be held to account because they could not be identified, either by the preyed-upon borrowers or by the investors seduced into buying bundles of worthless mortgages. As alleged in a Nevada class action called Lopez vs. Executive Trustee Services, et al.:

Before MERS, it would not have been possible for mortgages with no market value . . . to be sold at a profit or collateralized and sold as mortgage-backed securities. Before MERS, it would not have been possible for the Defendant banks and AIG to conceal from government regulators the extent of risk of financial losses those entities faced from the predatory origination of residential loans and the fraudulent re-sale and securitization of those otherwise non-marketable loans. Before MERS, the actual beneficiary of every Deed of Trust on every parcel in the United States and the State of Nevada could be readily ascertained by merely reviewing the public records at the local recorder’s office where documents reflecting any ownership interest in real property are kept....

After MERS, . . . the servicing rights were transferred after the origination of the loan to an entity so large that communication with the servicer became difficult if not impossible .... The servicer was interested in only one thing – making a profit from the foreclosure of the borrower’s residence – so that the entire predatory cycle of fraudulent origination, resale, and securitization of yet another predatory loan could occur again. This is the legacy of MERS, and the entire scheme was predicated upon the fraudulent designation of MERS as the ‘beneficiary’ under millions of deeds of trust in Nevada and other states.

_________________________

Btw, MERS is entirely owned by the big banks - all of them. Even if a mortgage isn't involved in MERS (mine isn't) the party suing is probably a similarly phoney entity which doesn't own the note, so the same principles apply. Also a CA federal court has recently ruled that homeowners are intended 3rd party beneficiaries to the HAMP contract with banks, giving us standing to sue for a mod. (Marques v. Wells Fargo) Details here:

http://mandelman.ml-implode.com/2010/08/federal-court-b... /

[Xipe Totec]

48. I read the former, and remember the latter

This is a huge story.

It is explosive in its implications.

[Citizen Worker]

56. This is Ayn Rand's very own free market loving John Galt on steroids. Will this case ever see the

inside of a courtroom? I wonder. The size and reach of this is incalculable and if it does see the inside of a courtroom it is going to get very, very bloody.

[sabrina 1]

59. K&R

[fasttense]

62. If the Dems get out in front of this, it will help them win the election.

If they can paint the RepubliCONS as the party of the bankers, and NOT bail out the banks yet again, they will look like heroes on 2 Nov.

[maryf]

63. "why they panicked last week and got HR3808 rushed through

(sorry, I don't believe in coincidence)." Me neither. Follow the money, always. K&R and thanks.

[lonestarnot]

64. Two more what in FL and AZ? Class action suits?

[tomm2thumbs]

66. thanks for posting this, fwding it to a friend /nt

[rucky]

67. To compound the problem, lenders were double or triple pledging the assets

Here's a case to follow: The bankrupcy of a wholesale lender out of Florida. If I have this right, here's the story:

After TB&W went tits up last year, BofA took over their servicing portfolio. The fraud allegations that sank the company partially came for their shell game of putting the same loan in multiple MBS's and selling them to - well - mostly Freddie. Several times over.

Now BofA wants Freddie to disclose the paper in court. Freddie's blocking this action, maybe to cover up or maybe because they don't have the documentation. So now B of A is on the hook for 500+ million in loans they're servicing and have no recourse on.

http://4closurefraud.org/2010/06/21/freddie-mac-bank-of-america-taylor-bean-whitaker-important-info-amp-statement-for-you-all-regarding-assignments-transfers-note-ownership/

[Autumn Colors]

68. Does this mean no one can foreclose on me ... ever?

My bigger fear is that even if I someday pay off my mortgage, will I ever get a clean title?

My originator was a regional bank, "Peoples Bank" (now People's United), in 2007. After I had made ONE payment to them, I was informed my mortgage had been sold to Countrywide, who I paid until they were taken over by B of A.

Somewhere along the way, someone on this site posted a link to find out who owns your loan using a MERS database search via the address alone:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8567773

and when I did a search at that time, the site said that Fannie Mae was an investor.

I tried searching my address again just now, it turned up nothing.

I've never been more than 30 days late on a mortgage payment, but my business (I'm self-employed) isn't doing well so this is a constant worry every month.

Let me get this right, my originator (Peoples Bank) has been paid in full. The second servicer (Countrywide) is now bankrupt. If B of A screwed up the paperwork, they can't foreclose and no one else can either?

If they screwed up the paperwork, will I ever be able to get a clean title if I ever pay off my mortgage? I had also hoped that I might be able to pay it down enough to be able to refinance with a local community bank or credit union (someday). Will I not be able to refinance AT ALL because no one will issue title insurance?

If I understand this right, this could be as much of a nightmare for me (in terms of clear ownership of my home) if I DON'T go into foreclosure as for them if I do.

[zehnkatzen]

70. k/r n/t

[Xipe Totec]

72. Kick!