Free Republic

May 10 (Reuters) - The Florida Supreme Court heard arguments on Thursday in a landmark lawsuit that could undo hundreds of thousands of foreclosures and open up banks to severe financial penalties in the state where they face the bulk of their foreclosure-fraud litigation.

Senator Moura goes on to question the logic behind turning down homeowners who want to repay their loans under revised terms, but are denied and foreclosed on. “Fannie and/or Freddie take an enormous loss up-front and elect to do so.” For her, the alarms went off when Freddie Mac recently asked Congress for $124 Billion dollars. Moura says, “I believe they are intentionally creating these huge losses in mortgage defaults so they can justify on paper their requests for hundreds of billions in taxpayer money. The longer they take to review modification applications, the further behind the homeowners end up,...

This Court Order was signed on January 5, 2012 by the Honorable John McConnell Jr., United States District Judge. The following interpretation and commentary is mine and mine alone. I have no desire to mischaracterize the Order so PLEASE read it carefully and draw your own conclusions. Justice is Blind. Justice should not be Blinded. For too long has a dark cloud covered us. For too long the many have lived in the shadows of the few. For too long a fear has been in us that is palpable. The fear being that Justice has been Blinded by the Few...

HINT: MERS assigns to Wells Fargo. Same day, same person, same notary assigns from Wells Fargo to Fannie Mae! Whoopie!

Readers, please direct your attention to paragraph six [6]. Question: "Do you swear to tell the truth, the whole truth, and nothing but the truth, so help you God?" Answer: "I do. " [1] [1] "To the best of my knowledge" Francis, we're here to help you. Blow that whistle. The corner office of your "safety glass protected" factory will someday throw you under the bus. Your clients believe the "Banking Putsch" is complete. It's not. They may have the money, honey, but we have the numbers. Like a colony of ants, those of us at the bottom of the...

This time the wild and crazy bunch attempts to defy an Order to Stay by a Federal Judge. Paragraph 4 - "All mortgage foreclosure cases are hereby STAYED and shall remain so until further order of the court. Any deadlines for filings on any issue are hereby suspended." Seems pretty clear to me. Maybe the good folks at Harmon Law accidently sent their copy of the order to LPS for some repair work. Or could it be that they interpret the STAY order to exclude evictions?

Wow, Jones Day just created a huge mess for its client and banks generally if anyone is alert enough to act on it. The lawsuit in question is American Home Mortgage Servicing Inc. v Lender Processing Services. It hasn’t gotten all that much attention (unless you are on the LPS deathwatch beat) because to most, it looks like yet another beauty contest between Cinderella’s two ugly sisters. AHMSI is a servicer (the successor to Option One, and it may also still have some Ameriquest servicing). AHMSI is mad at LPS because LPS was supposed to prepare certain types of documentation...

After being pushed off a national panel of state attorneys general looking into subprime mortgage abuses, Eric Scheiderman is basically telling the guys who ousted him where they can file their briefs. As we noted in Wake-Up Call, Reuters reported that Schneiderman, a Democrat in his first term as AG, "has voiced concerns over a proposed settlement between major banks and a coalition of federal and state officials over claims of foreclosure abuses. He has come under increasing pressure to approve the deal." Schneiderman is certainly framing himself as the good guy in this situation -- someone who wants to...

PROVIDENCE, R.I. (WPRI) - Rhode Island's new federal judge makes a decision that could affect dozens of Rhode Islanders facing foreclosure. Judge John McConnell, Junior has ordered the bulk of mortgage foreclosure cases in before Rhode Island's U.S. District Court to be put on hold, and for banks to try and negotiate with homeowners. 63 foreclosure cases in Rhode Island are affected. One of the homeowners taking interest in the ruling is Philip Aceto, whose Cranston home is in foreclosure. "I feel vindicated," Aceto said, "I feel this judge has made a fair decision." Aceto blames a title issue for...

HOLD ON. NOT SO FAST! When, if ever, will these "Foreclosure Mills" realize thay are not part of the "Too Big To Fail" crowd? They merely carry their poisonous water. Nothing more. Lawsuits from the top by the "Investment Banks", lawsuits from the bottom also aimed squarely at the "Commercial Banks". This IS a Nation of Laws not Men. In these dark times there will be many lawsuits. It is required. This is very fitting on a day where the Dow Jones Industrial Average dropped off five-hundred (500) points. As we watch the Ponzi collapse like a Jenga Castle it...

DO NOT CIRCUMVENT OUR OFFICE - ALL CORRESPONDENCE REGARDING THIS MORTGAGE SHOULD BE DIRECTED TO US. Dear Chase, We have sent HUNDREDS of pages of documentation to you since November 2010. The borrower came to us because they did the same and were ignored. We are going to try one more time to obtain a modification for our clients before we turn to the court system for relief. Your company has run rough-shot over our state's title statutes, and violated them as if they did not exist [and not only with regard to this particular property]. Unless you offer our...

It will be very interesting to see if Judge McConnell falls for the parlor tricks that will surely be thrown his way. I also find it very interesting that the Judge specifically cited the Bucci case which has been appealed. One may infer that he may not be in agreement with Judge Silverstein's conclusions. Notwithstanding the appeal, the Defendants and the Mill attorneys have had no problem hanging their hats on that one. There is one thing (at least) that distinguishes Judge McConnell from those I've poked fun at. He was not endorsed by the Chamber of Commerce. I am...

The Florida Bar is asking for disciplinary action against South Florida attorney David J. Stern for ignoring a Fifth District Court of Appeal’s order in a foreclosure case where his firm represented SunTrust Bank. A complaint filed with the Florida Supreme Court Friday charges Stern, whose Plantation-based company was once the largest foreclosure firm in the state, with violating rules of professional conduct and disobeying a court obligation. Read complaint here Stern’s attorney, Jeff Tew, said Stern was fired by SunTrust in mid Dec. 2010, before the Feb. 16 order was issued. Also, with 10,000 pieces of mail coming into...

Is it ethical for the American homeowner whose mortgage has been securitized to default, even If they are not financially distressed? First, consider it is unlikely that marketable, fee simple, insurable title can be obtained as a result of fulfilling the obligations of the related promissory note. On the contrary the titles to some 60 million homes in America are badly clouded. Secondly, encouraging investment in an asset class that has been artificially inflated, then deliberately destroying the price of the asset, as part of a separate profit making scheme is unethical, and any agreement based on this type of...

Looks like George is at it again… You remember George right? One of our Fight Club LawyersIt is disgusting and I will make sure that whoever violates his property rights is knocked out of the ring. No TKO’s will be accepted. A full fledged, right cross to the chin of the beast.I look forward to a response although I am quite certain you will not engage me as is your habit. Send your minions that I may lay waste to them before me. Well, it looks like he has been working on a little project…

When a law passes the Senate saying a foreclosing bank must show proof its the actual owner of the debt (note) what happens when the banks corrupt the head of the banking commission? This is not a Monarchy - unless we allow it. Get this out there. StopForeclosureFraud.com Msfraud.org Livinglies.wordpress.com Don't flame me for posting links to other blogs. -Its bad enough that all 50 state attorney generals are seeking action against all banks. - that the Federal Reserve gave the banks 60 days to get their schtuff straight - that appellate courts across the country are overturning rulings which...

MERS has screwed up the records so badly that in many or most cases no one knows who holds the notes, who is entitled to receive mortgage payments, and who has got the deed. What we used to call “mortgage backed securities” are probably mostly unsecured. It is not clear that any of the securitizations of home mortgages were done properly. In that case, the securities are not mortgage backed. Mortgage servicers do not have the right to foreclose, and neither do the securities holders. Homeowners can follow the example in Utah because, apparently, all states have a similar provision...

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,...

Now you getting it folks? This is NOT a “minor clerical error.” It is NOT correctable at this point in time. These securities are FATALLY DEFECTIVE. The parties with the legal duty to check these facts did not do so. It gets worse.

Just a thought on all this… Are we looking at systemic widespread fraud in the entire industry? Again, just a thought… Remember, they are not doing this to protect your interests…