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Specialized Loan Services: “MISTAKE” Costs Elderly Couple Their Home
Editor’s Note: Besides the obvious, there are a number of not-so-obvious things to keep in mind. The reason why they made the “mistake” is probably related to errors in procedure because they receive...
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Insider Confirms Builder Complicity in Appraisal Fraud
Editor’s Comment: Appraisal fraud, ratings fraud, misrepresentation, steering investors and borrowers in the wrong direction — all of these amount to the same thing: DECEIT. And as everyone knows, when...
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Moody’s Gets Notice from SEC: May Lose Status as Rating Agency
Editor’s Note: Hard to say which way this will go, but it SHOULD go negative for Moody’s, Fitch and Standard and Poor’s. This was appraisal fraud at the OTHER end of the lending chain. Investors were...
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23%+ of Homes Underwater
Editors Note: If anything shows the extent of appraisal fraud, it is the sheer number of homes that are under water. These figures while high, report only a fraction of the actual number of homes...
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What Do Those Losses at Fannie and Freddie Mean?
Editor’s Note: While the courts hear arguments and decide this way and that about standing and real party in interest, the elephant in the living room is that we have highly publicized reports of...
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WHY VERY FEW MODIFICATIONS AND SHORT-SALES ARE APPROVED
EDITOR’S NOTES: BASICALLY IT IS ABOUT MONEY: Investment Banks make more money as long as the loans are non performing All the other intermediaries make more money while the loans are non-performing...
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Allocation of Third Party Payments and Loans to Specific Loan Accounts
TURNING A DEFENSE INTO AN AFFIRMATIVE DEFENSE FOR SET OFF AND A CLAIM OR COUNTERCLAIM FOR DAMAGES AND ATTORNEY FEES So the question is how would you allocate third party payments and what difference...
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JP Morgan: 8 people, 18,000 signed affidavits per month
The bottom line is that none of these signors of affidavits have ANY personal knowledge regarding any document, event, or transaction relating to any of the loans they are “processing.” It’s all a...
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LINKING SECURITIZATION AND TILA
NOTE: Working on one of my expert declarations I figured I would share my computations with the readers. In order to protect privacy I am deleting any identifying information. In this case there was a...
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AIG Waived Rights in Bailout: NO SUBROGATION=PAID IN FULL
EDITOR’S NOTE: LISTEN UP! It’s easy to pass over these reports with the thought that it merely points out chicanery you already knew was about. But this one confirms what I’ve been saying for three...
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FACTUAL CONSTIPATION: THE URGE TO NOT DISCLOSE
EDITOR’S NOTE: FACTUAL CONSTIPATION is our current state of reality. It is the universal strategy across the board from Wall Street, the pretender lenders, servicers, and all other intermediaries in...
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Securitization Workshop in Sacramento, December 11, 2010… for Attorneys &...
On December 11th, 2010, in Sacramento, California, DTC Systems, Inc. and Secure Document Research is holding a Securitization Workshop designed to help attorneys get quickly up-to-speed on the topic...
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An Insider’s View of an Actual RMBS Securitization at Mandelman U.
So, do you remember the article I posted the other day about accounting for a pool of loans and how values are based on assumptions about the performance of the pool into the future? It was...
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