I wish I thought that things like this mattered anymore.
I wish I still believed that our nation’s courts had the courage to stand up to fight.
I wish our nation’s laws had powerful advocates who would stand up and fight for THE LAW.
But in case after case, courtroom after courtroom, all across this country THE LAW and OUR COURTS have bent, and then been trampled by the banks and institutions. The law that has developed is that there is no law for the banks.
I totally agree with you, Matt. It would be nice if this suit mattered. I skimmed the complaint–it’s great stuff, and absolutely correct. It will go nowhere.
It has taken a long time for everyone to wake up to the racketeering conspiracy in its myriad manifestations. Bravo to these public officials for striking out against the criminal cartel through the lens of their positions. MERS was directly marketed to its members as a vehicle for avoiding the costs of using the public recording system. Its own public marketing plan offered “savings” to its members by representing that the MERS system could avoid user fees and, depending on the jurisdiction, transfer taxes. Behind that lay the scheme to prevent homeowners from being able to determine what entity was claiming an interest in the REAL property, enabling the securitization scheme. I expect that the federal district court will be hard-pressed to avoid granting the relief requested.
I have tried Buddy Caldwell, Louisiana AG as BofA started a modification in 2008 on my home. In June 2012 they finally said I would get my paper work. My payments came back $300 higher than origional and leaves me in a bind yet. But it is now September and still no paperwork, my loan is being either sold or transferred to someone else, and they show me behind on all payment over 180 days. All payments have been made properly according to the modification agreement. Wanted to refinance so I could get the interest cut but with their account records it is impossible.
I know you all know about the Robo Signing issue, but it goes beyond this. The banks used us to sell bad loans set up for the purpose of bypassing the secondary market and put these straight into REMIC Real Estate Mortgage insurance Conduits. We were not licensed or contracted as MBS (Mortgage Backed Securities) Dealers. They used these mortgages and paid us on Margin adjustments not disclosed on the ARM riders to perpetuate these frauds to collect on FDIC insurance. They also used the funding from investors to front these loans so in essence for every Million in loans we essentially gave the banks $750k in profit without the use of their own funds. Funds they pocketed when their loans failed. They further used these conduits to offer to the investors a certificate attached to pools of mortgages, based upon the Rigged Libor Index.
https://boingboing.net/2013/04/26/to-big-to-fail-banks-implicate.html
It is time for us to take a stand. The government agencies are skimming money off the American public in the interest of Safety, while protecting the banks against potential law suits. All while THE BANKS are setting up 49 Attorney’s General’s to do the same to the American People through the “Largest National Settlement”.
They dry ran this with Nationstar who took loans modified in good standing and immediately foreclosed. NACA (Neighborhood Assistant Corporation of America) Just got contracted with Nationstar to stop these wrongful foreclosures. I managed to catch this, but my research was confiscated by the CFPB (Consumer Financial Protection Bureau. I sued a multitude of Federal Agencies to get to the FDIC criminal investigator who is now in research of this information.
But this is not enough, because the FDIC, who seized Indymac, had Barclays(1st arrests on the Libor) and Deutsch bank (Admitted involvement on the rigging of the Libor) as advisor’s. The deal was to pay out 80%-90% FDIC on servicing rights gone to foreclosure. This is based off the original loan amount.
The government involvement runs deep, and the 11 bil payout to Fannie Freddie, in addition to the total $40 bil on these loans in law suits to Banksters of America, are only a 30% loss against the projected gains on the servicing of these bad loans. A legal payout with plausible deniability. There are over 20 banks involved with this.
What you are seeing now is a trillion dollar investigation of industry fraud, where WE, the MORTGAGE brokers are PROXIMITY to the people whom we were set up to defraud. Yes I know you think we are the bad guys, and some did take unfair advantage through these predatory loans on a criminal level. But what you do not realize, is that it is withing these very loans that Mortgage brokers have Standing through the Banks biggest MARGIN OF ERROR and blow the loudest TIME OUT in history.
I am amongst many advocates who are fighting for the well being of this Great nation, It is the GOD given right through the very people who have fought and died for this Nation.
https://www.rollingstone.com/politics/blogs/taibblog/while-wronged-homeowners-got-300-apiece-in-foreclosure-settlement-consultants-who-helped-protect-banks-got-2-billion-20130426
I took an OATH. I have a DUTY to step forward. This may come down to a tort lit or civil suit of mortgage brokers. It may be the only way we have to fight for our rights. If you wish to join this fight to restructure these loans to fair market value, and restore the damage that has been done.
I did not sign up as a Mortgage Broker to defraud a nation, but that is EXACTLY what the lending industry turned us into. Page one on every Prospectus for every pooling and service agreement within these billion dollar trusts that our Nations loans were placed into show exactly HOW they used us to pass certificates on a Rigged Libor Index.
And BROKERS if you are reading this. in VIOLATION OF of 129C(c)(2) [108] of the Truth in Lending Act Securities Exchange Act of 1934. Which under “˜”˜(k) PROHIBITION ON STEERING INCENTIVES of this act”””˜”˜(1) IN GENERAL.””For any consumer credit transaction secured by real property or a dwelling, no loan originator shall receive from any person and no person shall pay to a loan originator, directly or indirectly, compensation that varies based on the terms of the loan (other than the amount of the principal).
#1) A margin is not defined on the ARM riders on pay option arms, we were paid on a margin adjustment, this is in violation of this very act, that is very much still in play.
#2) Our wholesale broker agreements mention sales to the secondary market. Fannie Freddie (one entity corporations). They make no mention of REMIC (Real Estate Mortgage Investment Conduits) that were used to bypass the secondary market, because that would mean we would have to be Securities Dealers to broker these loans directly into these “securitized” trusts. YOU WERE NEVER A MORTGAGE BACKED SECURITIES DEALER.
Every last loan used to place into these trusts are unenforceable.
You can find the trusts on a chain of title, and you can also find these banks transferring the bifurcated deeds in a frenzy starting early last year to place into the supposedly MBS(Mortgage Backed Securities) trusts where they set up SPV (Special Purpose vehicles) to avoid double taxation on these trusts. This is called tax evasion because without the deed there is nothing more than the notes within these trust, violating the SPV they set up.
Guys, I need your help.
A Person is not defined by their circumstance, it is how we work through them that define us. I refuse to go quietly into that good night. You know there is a time to sit and watch, and a time to stand. If we do not take a stand we will be known as the Nation that was divisible without a GOD without Justice and without Liberty.
REMEMBER WHO YOU ARE AND WHAT YOU STAND FOR. Use you keyboards as paddle boards and get this information out there.
In Faith, as Faith through Faith
Faith Brashear