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Christopher King on Scribd. Officials Cover Up Housing Bubble’s Scummy Residue: Fraudulent Foreclosure Documents. EVERY DAY IN AMERICA, mortgage companies attempt to foreclose on homeowners using false documents.

Officials Cover Up Housing Bubble’s Scummy Residue: Fraudulent Foreclosure Documents

Leaked Seattle Audit Concludes Many Mortgage Documents Are Void. A Seattle housing activist on Wednesday uploaded an explosive land-record audit that the local City Council had been sitting on, revealing its far-reaching conclusion: that all assignments of mortgages the auditors studied are void.

Leaked Seattle Audit Concludes Many Mortgage Documents Are Void

That makes any foreclosures in the city based on these documents illegal and unenforceable, and makes the King County recording offices where the documents are located a massive crime scene. The problems stem from the Mortgage Electronic Registration Systems (MERS), an entity banks created so they could transfer mortgages privately, saving them billions of dollars in transfer fees to public recording offices. In Washington state, MERS’ practices were found illegal by the State Supreme Court in 2012. But MERS continued those practices with only cosmetic changes, the audit found.

That finding has national implications. Chain of Title & Securitization Analysis © Securitisation Analysed - Marie McDonnell. The following comments come from Marie McDonnell, an expert in securitisation and bank fraud.

Securitisation Analysed - Marie McDonnell

Marie McDonnell was a principal witness in the recent Massachusetts case which brought a severe blow to banks trying to foreclose without the required documentation (due to securitisation). These comments, made about mid 2010, include some telling insights into banks and securitisation…. First and foremost, what your readers need to understand is that no one who has a loan secured by a mortgage on his home is safe. Mortgage servicing companies, including Wells Fargo Bank, CitiBank, JPMorgan Chase, and Bank of America, etc. control everything. THERE ARE MARKED DIFFERENCES BETWEEN AN AUDIT AND A FORENSIC EXAMINATION! The author of this post is a consultant to attorneys and county clerks and has himself participated in (along with a team of skilled auditors and examiners) BOTH processes described here.

THERE ARE MARKED DIFFERENCES BETWEEN AN AUDIT AND A FORENSIC EXAMINATION!

The opinions posted are that of the author and do not constitute the rendering of legal advice. I am getting a lot of feedback these days from homeowners who are viewing my handiwork and wanting the same types of processes to be conducted in their respective counties. Class Action. Foreclosure Defense and Offense: The Evolving Mortgage Audit Process. TILA- Disclosure Req, Violations and Remedies Settlements Under RESPA Pursuit-v-UBS – Investor case proves homeowners cases Request to Purchase Garfield Homeowners Workshop Handbook- v3 0210 Request to Purchase Garfiel Lawyers Workshop Handbook-v5 0210 Predatory Lawyers and Modification companies No better than predatory lenders START HERE : Request for Preliminary Document Review.

Foreclosure Defense and Offense: The Evolving Mortgage Audit Process

Untitled. National Association of County Recorders, Election Officials and Clerks. “MERS is not a “holder” under the plain language of the statute,” says the Supreme Court of the State of Washington. Finally, the Rule of Law is followed by the brilliant masters of the Washington state Supreme Court system.

“MERS is not a “holder” under the plain language of the statute,” says the Supreme Court of the State of Washington

Yea! This ruling affects over 67 million MERS mortgages – whether in foreclosure or not. As good as it is – there are still more facts that need to be adequately plead and addressed by the Court(s). The Washington Supreme Court ruled unanimously today in Bain (Kristin), et al. v. Mortg. . “1. “we answer the first certified question “no.”” California Land Title Association : Common Ways of Holding Title. « Back to Consumer Library Title Consumer Series: Common Ways of Holding Title How Should I take ownership of the property I am buying?

California Land Title Association : Common Ways of Holding Title

This important question is one California real property purchasers ask their real estate, escrow and title professionals every day. Unfortunately, though these professionals may identify the many methods of owning property, they may not recommend a specific form of ownership, as doing so would constitute practicing law. The Mortgage Lender Implode-O-Meter - tracking the housing finance breakdown, related to Alt-A and subprime mortgages, lending fraud, predatory lending, housing bubble, mortgage banking, foreclosures, debt, consolidation, lawyers, class-action lawsuits.

“The REMICs have failed! “The REMICs have failed!” Most average homeowners have no idea what a REMIC is – actually most attorneys have no clue …. so, you know many of the Judges are completely in the dark.

“The REMICs have failed! “The REMICs have failed!”

REMICs are a form of IRS tax shelter sold to investors as part of the mortgage-backed securities package (Real Estate Mortgage Investment Conduit (“REMIC”) pursuant to I.R.C. §§860A-G). The documents that killed the REMICs may actually help save your home. A new report by Oppenheim Law reveals “the Black Magic of Securitized Trusts”. Cloudy with a Chance of Radicalism: How Broken Chain of Title Can Turn the Tables on Banks. In an earlier post on this website, we told the story of Richmond, California, a small city with big plans to end its foreclosure crisis via a novel use of eminent domain.

Cloudy with a Chance of Radicalism: How Broken Chain of Title Can Turn the Tables on Banks

If successful, this plan could set a nationwide precedent, and Strike Debt Bay Area (@StrikedebtBA), among other groups, is fighting to push it through, against pressure from big banks and big government alike. But there’s a new twist on the concept of using eminent domain that could have far wider implications, not only for the foreclosure crisis, but also for the power of big banks. In this post we explore that twist—referred to here as “clouded chain of title”—and its potential implications.