To The Media: Stop LYING About Foreclosuregate

The Market Ticker ^ | 10/12/2010 | Karl Denninger

[Chunga85]

I'm getting tired of this, so I'm going to trot out the proof and stick it under everyone's nose.

We keep hearing that these "lost document" affidavits and similar are just "sloppiness."

They are not. They are hard evidence of fraud, with the only decision left to be made being one on exactly where the fraud happened.

I'm going to show you a document - a Pooling and Servicing Agreement - from one MBS Trust. There are literally thousands just like this. I've read dozens. Those that were sold to the public are all filed on the SEC's web page, and can be found either on EDGAR or SECINFO. Every single one that I've read contains a certification that is, in form and substance, identical to that below.

This specific example is one that others have picked on and happens to be right from the top of the bubble around 2006 - and it also happens to be from our favorite Vampire Squid, Goldman Sachs.

[Kartographer]

All I am saying is that preserving the rule of law comes first over worrying about a ‘dead beat’ getting a free house or not. The ‘dead beat’ wouldn’t be getting the chance at a free house IF THE BANK HAD JUST FOLLOWED THE LAW! The ‘dead beat’ didn’t set the bank up to defraud them the bank set itself up to be defrauded.

I look at it this way when these people fall for the con “I found this bag of money and I will share it with you if you put up some good faith money” and of course the person loses their money. Yes someone comitted fraud against them but its hard to feel sorry for the fool.

[Kartographer]

...and the deadbeat keeps on living in the house?

Yes the ‘dead beats’ keep living in the house until the owner of the note/lien who is the one with standing comes forward and forecloses. No it’s not prefect, but do you really want a system where just anyone can come forward and foreclose rather they own the note/lien or not?

[Chunga85]

Foreclosure Fraud For Dummies, 1: The Chains and the Stakes

[stephenjohnbanker]

” Just announced: 144 Billion shelled out for Wall Street Bonuses! Yippeeee! They broke last year’s record!

Wretched Wall Street Bonus Bump! “

Thugs with ivy league pedigrees, and $4000,00 suits ;-)

[Chunga85]

BOMBSHELL: Courts Create Bonds Off Foreclosure Cases, Sell Them on Wallstreet

[ex-Texan]

'Blame the dead beats' is a common refrain on FR. A few of them are wealthy elitists and lifetime GOP member who spout old time' party line' responses. But the party line is changing. The real grass roots GOP is finally waking up.

Most of the naysayers are paid shills who work for mortgage lenders, real estate firms or Wall Street Banks. Also there are disruptors posting here every day. Some are flaming liberals disguised as conservatives. It's a waste of time to argue with them. They are paid to disrupt truth tellers on FR.

There are a few others who are true believers but most of them blame Jimmy Carter's 1977 reforms. They refuse to see that over 20 years passed without any major change in lending standards, late payment collection and foreclosure standards . . .

Until Major Corporate Crooks Like Bozillo Took Over

For insight into the true causes of the mortgage crisis I refer you to stephenjohnbanker's post on this thread He hits the nail squarely on its head.

[blam]

"I have more ‘skin’ in this game than most of you I am current with my mortgage, but it is listed three times in MERS (I checked last night). So I’ll most likely at sometime have to spend thousands of dollars and lots of time to get the mess cleaned-up."

How did you check this. Can I do it too?

[Mashood]

“Can of legal worms. And you know what they say about opening a can of worm? Once opened you can never get them back in the same size can.”

Well... they say that you can never get them back into the same can the same way they were in when you pulled them out to begin with.

[Kartographer]

https://www.mers-servicerid.org/sis/

It might take a couple of attempts using different data to pull yours up. It did for me.

[blam]

Contains vulgarity:

GONZALO LIRA: The Coming Middle-Class Anarchy

[cynwoody]

https://www.mers-servicerid.org/sis/

It might take a couple of attempts using different data to pull yours up. It did for me.

I just put in my street, and it eventually coughed up three listings (all without detail other than the ID number), out of about 60 possible house numbers.

[Chunga85]

If you have multiple MIN numbers you may want to have the OCC investigate. Print what you can first just in case it get's lost!

OCC Online Customer Complaint Form

About the OCC The Office of the Comptroller of the Currency

The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks.

It also supervises the federal branches and agencies of foreign banks. Headquartered in Washington, D.C., the OCC has four district offices plus an office in London to supervise the international activities of national banks.

[Pilsner]

Yes the ‘dead beats’ keep living in the house until the owner of the note/lien who is the one with standing comes forward and forecloses. No it’s not prefect, but do you really want a system where just anyone can come forward and foreclose rather they own the note/lien or not?

Exactly. And keep in mind that the lenders created this problem. Deliberately. With full knowledge of the possible problems. Because they thought they could make a fast few billion bucks.

[Fred]

The rule of law does not just apply to the person that bought the home. So please support courteous discourse on these corrupt banks.

If you need more evidence do a freeper search on the keyword ‘foreclosuregate’, there are some excellent posts....

[Fred]

Please, disregard my last post. thxs..

[Kartographer]

You got me good and confused. ;-)

[lacrew]

I go to a mediation hearing with a client (land developer) on Thursday. The title company missed something big, they know its their fault, and they’ve stretched it out for 18 months. I know whose corner the average title company is in...their own. Title insurance is a joke. Its required in our state, but its nothing but a giant disclaimer.

[null and void]

Ping!

[GYPSY286]

Apparently last year BofA bought Wilshire Credit and so BofA became my servicer. I sent a RESPA letter last month requesting that they confirm they have my wet ink note and who was the “owner” of my note. They sent me a letter telling me that Aurora MSF Lehman owned my note. Thought they went bankrupt in 2008? They also sent me a copy of my Note - only 4 pages. (I have 5 pages in my file). There are no endorsements so they haven’t really proven to me that Aurora MSF Lehman (defunct co.) owns my loan. What a mess.