Foreclosure Defense FloridaGeneral Information

Mortgage Securitization Audits….THEY ARE A CRIME!

Let me be clear about   this one more time.


VIOLATIONS.””A person who violates any provision of this section commits an unfair and deceptive trade practice as defined in part II of this chapter. Violators are subject to the penalties and remedies provided in part II of this chapter, including a monetary penalty not to exceed $15,000 per violation.

Just this week I had another client in my office who almost lost their home because they had given thousands of dollars to a loan audit/securitization “expert” who told the to ignore the lawsuit that was filed against them.   They did not respond to the lawsuit and the bank was prepared to set a sale.   The judge did not have to let my new client defend the case, but the judge recognized that this old, immigrant family had indeed been the victim of a widespread and rampant fraud so the judge allowed them to defend their case and their home is safe…for now.   Good call by the judge. Fair. Balanced.   So now, I’m going to bust my hump to make sure this client fills out all their paperwork and gets the modification done.   Here’s the thing….with their income, they could have had the modification done months ago….if only the scammer had not sold them up the river.
I get variations of the loan audit scam in my office nearly every single day.   Hapless consumers are either directly approached by companies or they respond directly to any one of the hundreds of websites that have sprung up everywhere.   Here’s the rap: The company or expert will audit their loan, show them how the bank committed fraud or their documents are bad or whatever and the homeowner can use that information to get a free house….for a small upfront fee of several thousand dollars…and maybe a small monthly fee if the mark can swing it.


And yet, the proliferation of these scams is mind blowing.   Homeowers are pounced on by cold callers and emails and direct mail and people coming directly to their door as soon as a foreclosure lawsuit is filed.   Some are pounded on just as soon as they miss a few payments….these consumers are placed on widely available lists that are purchased by the securitization scam companies and the victims are pounded on relentlessly.







I’ve wasted good years of my life reporting such scams to the Florida Attorney General, Florida Department of Law Enforcement and anyone else that should be paying attention, but no one seems to care.   Years ago I met with representatives from several different agencies, they handed me their fancy embossed cards and talked about the multi-agency task force that was going to be set up to go after these scams that ensnare countless consumers every day…..but no follow up ever came of those meetings and phone calls….I wonder if the shuffling of papers I heard in the background were….(self deleted comment here aimed at trying to not make me such a target) Here is an example of how long I’ve been screaming about this and here
The scams morph and twist, but the outcome and intent are the same. The outcome is a homeowner is scammed.   The intent is to take thousands of dollars from those who can least afford it.
Every time I write one of these posts I get pounced on and attacked by all sorts of people who claim they are the real deal, they do real audits and provide real service to homeowners.   Now, I will acknowledge that there are a handful of individuals out there who are working with attorney and who have very valuable information that can be useful to the homeowner….BUT THAT INFORMATION IS USELESS IF IT IS NOT ADMISSABLE IN COURT!
Now, I know that there are legitimate people out there who are working with attorneys and who have provided useful information.   Recently I came across a woman who provided invaluable information that was very, very useful. I will use her again and I will encourage other attorneys to use her. A key element for any person who asserts they have valuable information to share is that they will only work directly with attorneys….they will not sell information or services directly to the public.   So where do I get off saying that securitiztions are a crime, well, you read the following language and ‘splain to me how anything sold to a consumer ain’t a violation?

(c)”ƒ” Foreclosure-related rescue services” means any good or service related to, or promising assistance in connection with:

1.”ƒStopping, avoiding, or delaying foreclosure proceedings concerning residential real property; or
2.”ƒCuring or otherwise addressing a default or failure to timely pay with respect to a residential mortgage loan obligation.


  • Mike says:

    Matt, I feel you are so off base its almost unprofessional the way you have just made this blanket statement. Neil Garfield has forgotten more about foreclosure defense than you whole staff put together and its not fair for you to group everyone into the same group.
    A good audit will show the facts that are not availiable to you or any other attorney unless you are Bloomberg certified and have acess to the information. It can and will provide discovery that no matter how hard you push no judge will force them to produce.
    I would expect you apologize to those who are on the up an up and help homewoners.

    • I am quoting the law, stating the facts as clearly and directly as I can. I don’t know what this has to do with Neil Garfield, I understand that he is a vocal proponent of the whole audit scheme, but that’s his business. My problem is consumers who get sucked into the audit scam, are advised to ignore the court case and pay thousands of dollars for bogus information and then lose their homes. I’ve linked to the statute directly on that post… read through the statute and tell me how selling consumers the audits is not a violation….better yet, if you’re such a strong proponent, show me examples of success with audits……

      • Esteban says:

        Excellent answer. I was almost to the point of buying an audit. The ones I call, told me that only it could be done with an attorney requesting it. I think they did the right thing advising me that way. I hired Stopa as my counsel, and I think both of you are excellent. Keep doing it because you are trully amazing.

        • i would grant whomever counseled you respect for telling you that…then, they need to convince stopa that the information they can provide him would be worthwhile….as a judge recently said, “Stopa, you’re a real pain”….but that’s his job, to make every word out of the plaintiff’s mouth be a pain. Stopa beats hard, pounds on everyone, but that’s his job…and he’s good at it.

          • Esteban says:

            Thanks Matt. You are a real american patriot! God Bless You and the United States of America!

        • Shukri B says:

          Esteban would you recommend Stopa to me to do my audit and how did yours workout with them, thanks

      • MOG says:

        In 2005 many homeowners were illegally losing their homes to banks, despite being represented by attorneys. Many attorneys have wrongfully taken money from homeowners and made misstatements and representation that they are competent in foreclosure litigation when in fact they were simply oblivious to the real issue at hand. Does this mean that all attorneys are criminal or that attorneys’ claims of providing foreclosure defense are a crime? The answer is obvious. Therefore for Matt to suggest that ALL securitization audits are a “CRIME” is highly misleading, untrue, irresponsible and illogical. While there are some parasitic companies who simply take advantage of vulnerable homeowners, there remain solid organizations that are effective and provide credible research. Either way, these audits, expert witness affidavits, Bloomberg/ABSNET loan search (when drafted and applied CORRECTLY) are all defense tools”¦and depending on the practitioner (attorney), one can build a house with those tools, or in many case, a SHACK. Let’s do our due diligence and apply common sense to non-sense.

    • J. Louis says:

      Well said Mike. You are 100% right and I know this from actual usage of a Sec. Audit and what they can do when used properly. And as for telling clients to NOT respond to the banks when they file on them in court, IS WRONG AND NOT OK and NOT what we do and/or have seen done. We tell them change posture immediately and become the PLAINTIFF and sue for trespass and violation/breach of contract and use the sec. audit as a back up just in case and win every time, as long as the client doesn’t mess up and cross back into the matrix so to speak….

  • Rob Harrington says:

    Marie McDonnell – Ibanez case.
    Matt, you have failed to review the information we offered for attorneys across the State of Florida. All we asked for was a meeting to properly disclose our information and how it is to be properly utilized. Admit or deny?
    Matt, I am no longer involved in this business, mainly because there was no effort by Florida attorneys to admit that there is evidence that could be supported by expert witness testimony, but the slow grinding wheels of justice and litigation have yet to allow the process to work in a pure historical time-line. I think at a subconscious level, many attorneys are scrambling for the same limited resources – money – from the same homeowner. Admit or deny?
    Yes Matt, there are a lot of less than desirable “auditor” folks out there who are selling crap. They need to be exposed! Admitted!
    But you have lumped some very good people in with the trash and have now harmed (or doomed) many homeowners by making your broad, sweeping argument based on a lack of information – and time.
    The overall lack of coordination amongst the activists, consumer attorneys, and credible auditors over turf wars, alliances, popularity contests, and egos, is the main reason why Wall Street just keeps on steamrolling over fairness, justice, fact and law, and due process (despite the massive evidence ALL PARTIES have uncovered together.)
    What is really needed is a UNITY CONFERENCE. Probably would never happen because so many arrogant people would never show up because they think they are ALWAYS right or have some “trademark” or “silver bullet entitlement rights” as to how to “save the homeowner.”
    RECENTLY, NOBODY HAS BEEN ALWAYS RIGHT ABOUT FORECLOSURE FRAUD AND FORECLOSURE DEFENSE, BECAUSE WE ARE ALL NOW IN A LEARNING CURVE IN A CLEARLY HISTORICAL CONTEXT OF SOMETHING THE COURTS AND ATTORNEYS HAVE (FUNDAMENTALLY) NEVER HAD TO DEAL WITH FOR 100’s OF YEARS, (ie, securitization, massive fraudulent lending – by the lenders, forged documents, MERS, etc..) “Foreclosure Defense” wasn’t actually really a course at law school, was it Matt?
    I absolutely agree with you we are fast becoming a fascist state, yet, all of us should look closer at how we are all actually assisting the process.
    “Nice job” in today’s blog, Matt.
    God bless America, may God bless us all. Only a miracle will save us now.
    -Rob Harrington

    • Rob, I agree with much of what you say; as stated multiple times, my biggest problem is consumers who have lost their day in court and lost their homes. The law is what it is. And more importantly, as I discussed with you, (and put in the post), any information sold to consumers violates the law…..and attorneys who are not careful even if they are acquiring the audit information run risks. There is a huge proliferation of con artists who are preying on vulnerable consumers….this is a major problem that must be stopped.

      • Rob Harrington says:

        And respectfully Matt, many lost their day in court because of Many lost homes due to 100’s of factors that had NOTHING to do with “auditors.” Many lost in court because of very poor representation by attorneys who were clueless and failed to initially get their CLE through April or Max. Many cases were lost at appeal because no record was made properly by having a court reporter present. Many lost because the attorney failed to object, or show up at a hearing, or attack the evidence or lack thereof. Most cases were lost because HOMEOWNERS SIMPLY COULD NOT AFFORD COMPETANT) LEGAL REPRESENATATION!
        Get back to the original premise about needing a UNITY CONFERENCE between the country’s best attorneys, auditors and activists. Set that up and lets see who show up?
        You also don’t admit or deny we tried to set up a meeting with you and others to produce the securitization evidence and the how to utilize it properly.
        You also don’t admit or deny that we just haven’t had enough time and experience in the court system to show mass beneficial usage of proper audits.
        And what about the “show me ONE example” of a winning case?
        Explain this to the Ibanez court and Marie McDonnell?
        (Marie McDonnell ““ Ibanez case.)
        Matt, love ya bro, but you should have drank more coffee before you ranted on this one this morning…

  • Rob Harrington says:

    Audits should only be used as attorney work product with attorney supervision… Yes!

  • darla says:

    I too believe what you said is true.
    Have you ever used the services of Nye Lavalle?
    Does he provide audits or is his service more personalized with affidavits and expert witness?

  • Bill Paatalo says:

    Gee Matt, how many unethical, unscrupulous, predatory attorneys are there across the country who are ripping people’s heads off in order to get the retainer. You need to stop generalizing. Our entire system is “buyer beware”. So before you start spreading fear and half-truths, why don’t you look in the mirror? You’re profession is about as ugly as it gets!
    I have plenty of attorneys who use my services and have praised my work. PRECISELY, if you are working with an attorney, then you MAY be okay….AND YOU SHOULD BE PROUD TO SHARE YOUR WORK AND RESULTS…..make it anonymous as to client, black out names, but show some results……
    I’ve uncovered critical evidence in cases that would have gone overlooked and unchecked. I’ll take each success story one at a time, because it’s all we can do. You of all people should know that your comment about showing you the success stories is unfair. These cases are confidential and often are settled in complete confidentiality. YOU CAN SHARE OUTCOMES WITHOUT BREACHING CONFIDENTIALITY
    These cases never go to trial because the banks won’t allow it. Doesn’t mean there aren’t a tremendous amount of victories taking place. But one thing is certain, there will be no victory for those who walk away and don’t push back. Your comments cause people to distrust all and walk away. MY POST HERE IS INTENDED TO CAUSE THE DISCUSSION WE ARE HAVING….SHOW RESULTS!
    So who’s side are you on, Matt? I WILL LET MY RECORD SPEAK FOR ITSELF.

    • Bill Paatalo says:

      If you were a prosecuting attorney in the D.A’s office, how much success would you have getting convictions if there were no cops on the street processing the crime scenes and securing the evidence? Results aside, it is not my job as a private investigator, researcher, and “crime scene” processor to get the victory. That is your job! This is a team effort. I don’t provide a whole lot in the way of “opinions.” I provide evidence and facts. What you do with that evidence is your call. You’re the practioner. It would be rediculous to go to all the attorneys I work with and say, “Hey, Matt wants to see the results.” You know darn well that all cases are different. Broadcasting victories sets my clients up for high expectations and dissapointment should my findings bear no fruit. There are no guarantees. If you don’t need guys like us and feel you can do it all on your own, then great. Charge your clients the $300 hr. to do the research. But don’t lump guys like me into your generalizations.
      Again, it’s like going to the beat cop and saying, “show me how many prosecutions you’ve secured.” The cop ain’t the prosecutor, but he sure is integral in the success of the prosecutor.

      • Bill, I’m just a messenger regarding this aspect of the law…I have used a few people and their work has been very valuable….I am happy to provide their references to other attorneys. Your comparison about prosecutors and investigators is accepted and well-taken. I like your comment about evidence and facts and not opinions…..and that information can be most useful. The problem is there are very limited ways to use that evidence and facts. It’s not my place to call everyone out…..I’m just providing commentary…and seeking input and discussion about the topic. What I say isn’t really all that important…the law is what it is and the definitions are not subject to much interpretation. If you’re doing good work, good for you…..have an attorney contact me and share with me the results (it can of course be done confidentially), MAKE ME A BELIEVER!

        • Rob Harrington says:

          Matt, I tried to give you the evidence of Bill’s/Richard’s work and you ignored me. True or false, Matt? It really is good work. Too bad you refuse to see it and how it can be properly utilized. I talked to an attorney just yesterday who hired us a few months ago, and he was very happy with the work product – and he knows how to properly utilize it.
          Our entire “movement” is fragmented due to ego, turf wars, popularity contests. Unity? This is laughable.
          I sadly suspect, that much of your rant, although general to the industry, was in part, predicated upon your mistrust of one particular Yale law grad, DC bar member. I can’t prove it, you can deny it, but God knows the truth. You owe Bill and Richard an apology.
          In the meantime, on one blog you posted 4 or 5 days ago you over-generalized that “securitization audits are a crime.” Yet, on your next post a few days later, you state that you actually do work with an auditor who you trust. Isn’t that conflicting information? What kind of audits does this person perform? A Tila Respa audit – damn near worthless if a homeowner can’t tender because they are 30 – 50% underwater ??? An origination/underwriting/appraisal audit – most attorneys have failed in this aspect??? An accounting audit? You don’t seem to say. Your stance seemed to alter (or amend or clarify) within 48 hours
          Geez, Matt…
          We needed the truth, not a rant to promote disunity and confusion amongst the sheeple.
          Again, you (and now Karl D.) asked for one example of a successful case which utilized a securitization audit – Again, I cite Marie McDonnell and Ibanez. Otherwise, it is just too early in the game to see the results of an emerging industry, (yes, replete with “good and bad actors,”) and I bet on merely instinct, that many of the successful cases were settled quickly and the homeowners gagged by the bank’s attorneys. I can not prove this, however.
          I do believe you acted unfairly towards at least one firm, who at least is a licensed (government regulated and thusly held accountable) private investigation agency, merely for you to grab a “soap-box moment.” But what you really did was destroy morale to a few good, honest, and committed people.
          My morale to follow or lead is shot. I hate foreclosureland. I distrust many of the players and their motives and agendas. Many of the homeowners are so typical in that they want to swallow a “pill” and magically have their problems disappear – without effort towards activism and change. I look at many involved in this so-called “movement” and the constant back-stabbing, character assassinations, and popularity contests within our own so-called “team.” So much for adult conversations and healthy debate… So much for forward progress.
          WE all deserve to lose to the criminals because NOT ONE LEADER HAS EMERGED TO BRING US ALL TOGETHER because there is too much greed, ego, agenda, and turf wars.
          Good luck on the soap-box. You and many of us will be standing on one when they kick it out from underneath us as we dangle and dance without touching the ground. Your leadership calling upon unity and accepted standards for attorneys and auditors would have been far more helpful.
          Quit screaming and ranting and be a real leader. Unify everybody. Call out for a “unity conference” in Florida with activists, groups, auditors and attorneys.
          As for me? I’m cooked.
          May God have mercy on us all.

        • albert says:

          ha, got the point, scammed big time.
          why the search did not come up here before i paid…mmmmmmm
          just got scammed by this people….
          they confirmed my loan was in a trust, and after payment surprise!, there is no trust, they don’t guarantee anything, they do not refund anything….ohhhh they will send a “report” yeah..but containing the same information you sent them ( mortgage date, complaint, assignment,suspect fraud (no evidence of course) etc.etc. …
          stay away from “AUDITS”….

          • Bill Paatalo says:

            Albert (which isn’t your real name by the way),
            I’d be careful about slandering me and my reputation on the Internet. You were not “scammed” and your baseless complaint was disregarded by the Oregon AG’s office. My gut feeling tells me you were not, nor are not, an actual foreclosure victim, but rather a “mole” or plant by the banks trying to tarnish the effective and credible work I provide. I have plenty of attorneys and clients throughout the U.S. who can vouch for my honesty and integrity. If anyone reads this slanderous sludge and doubts my services and qualifications, simply contact me for referrals at

          • albert says:

            for more baseless complaints (and real outcome) contact:
            Sally O’Neil
            Enforcement Officer
            Financial Fraud/Consumer Protection Section
            Oregon Department of Justice
            at 503-934-4400 or e-mail at
            Debbie Myers
            State of Oregon
            Division of Finance & Corporate Securities
            Consumer Complaint Form
            the ” mole” aka the “plant”

  • Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    People would be better served, Matt, if you adhered to the ethical canons of your own profession. I am aware the ABA revised the “snitch laws” in the past few years, and believe that every state BAR Association has adopted those revisions. Even the prior snitch laws had some punch. It is now mandatory for a member of the BAR to report unprofessional, unethical and illegal behavior to the proper authorities, and to do so immediately.
    Have you made or filed any such reports?
    Have you filed any BAR complaints?
    Have you filed any criminal complaints?
    Have you filed any judicial complaints?
    It is a fact that 100% of foreclosure complaints are filed by attorneys. Many of those complaints involve criminal behavior, acts, and violations on the part of those attorneys.
    These criminals are your professional brethren!
    They are wreaking havoc on the citizens, the courts, and the country!
    And that for as long as you persist in your failure to hold them professionally and legally accountable.
    “Thou hypocrite, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother’s eye.” Matthew 7:5, KJV.

    • I have taken the fight, I have made complaints, and I have the scars and the penalties to prove it. I hear your complaints and I agree….as I’ve said repeatedly, I wasted months of my life filing complaints with anyone that would listen and got….crickets in response. Well, not exactly crickets in the sense that I made myself a target. I regret that I must agree with you, “These criminals are your professional bretheren!” (you should be fair and add sisters as well) Like you, I have no power to hold anyone accountable but myself. The audit controversy is controversial I know, but the facts are what they are with regard to the law. I know there are good people out there doing good work….mine is not an indictment of the entire industry, it’s more a warning and an open discussion of the law and facts…….

      • Stupendous Man - Defender of Liberty, Foe of Tyranny says:

        I don’t believe anyone would consider these two, the first being the headline of the current post, and the next being a response comment within the same post, to be anything other than irreconcilable and mutually exclusive.
        The headline:
        “Mortgage Securitization Audits”¦.THEY ARE A CRIME!”
        The response comment:
        “mine is not an indictment of the entire industry”

    • Concerned Reader says:

      My understanding of the “snitch law” in Florida, Rule 4-8.3(a) Reporting Misconduct of Other Lawyers. A lawyer who knows that another lawyer has committed a violation”¦.
      The rule requires reporting misconduct only if the lawyer “knows” of misconduct – which is a very high personal knowledge standard with lots of plausible deniability. The rule is largely meaningless, I’m sorry to say.
      Rule 4-8.3 Reporting Professional Misconduct
      (a) Reporting Misconduct of Other Lawyers. A lawyer who knows that another lawyer has committed a violation of the Rules of Professional Conduct that raises a substantial question as to that lawyer’s honesty, trustworthiness, or fitness as a lawyer in other respects shall inform the appropriate professional authority.
      (b) Reporting Misconduct of Judges. A lawyer who knows that a judge has committed a violation of applicable rules of judicial conduct that raises a substantial question as to the judge’s fitness for office shall inform the appropriate authority.

  • Roy Blizzard says:

    Dear Matt, We have been fighting this for about 4 years and have tried to keep our website clear of the scammers. We have seen a lot and try to pass along any bit of knowledge we glean for free in order to assist both Attorneys and lay people fighting to save their homes. What we have found is that most of the process of the securitization “audit” is simply stuff that the homeowner could get by themselves if they knew where to look for it. What is the most difficult part is actually locating the loan note and I’m not sure anyone can actually locate something that doesn’t exist or has been misplaced. We know where ours is “supposed” to be, but we doubt it is there. Bloomberg should be more accessible, but it is what it is. After everything else is done and found that should be the first step. Roy and Donna Blizzard, Homeowners Against Mortgage Servicing Fraud on Facebook

  • Randal says:

    To say that all auditors are scam artists is simply untrue. You do a major dis-service to those who provide valuable work product to homeowners whose attorneys need chain of title, etc. data. Accessing databases and county recording facilities to procure factual documentation for foreclosure defense is not a scam Matt. Your position shows a lack of knowledge and understanding.

    • then educate me….show me results……give me examples and I will publish…write me a post with exampls…..

      • Rob Harrington says:

        Matt, just tell me when to meet you in Clearwater/St. Pete. I all but begged you to set up a meeting last year so we can show you exactly what we are doing. “Albert” on the Hamlet is perhaps a moll or shill for the banks, or maybe just a disgruntled consumer because we couldn’t find the loan level data on Bloomberg. Bloomberg is not the “be all to end all” of proprietary data collection. This is disclosed verbally – AND IN WRITING. WE also disclose that we can’t guarantee the outcome of their case. Some may also choose to simply get the Phase II for their attorneys without the Bloomberg screen shot evidence because at least Bill (Paatalo) is a LICENSED PRIVATE INVESTIGATOR (Oregon – PSID # 49411,) an ex-cop and ex-mortgage broker (combined 17 year background. He has provided EXPERT DECLARATIONS in many cases across the country. Bill probably could survive EXPERT WITNESS status. But most of all, Bill can educate the masses of attorneys (excluding you and 10- 20 other Florida attorneys, and maybe 100’s across the country) who are still CLUELESS in 2013 about fact patterns in fraudulent foreclosures and how to properly represent a foreclosure victim. WE have always told people to be under COMPETANT, QUALIFIED ATTORNEYS CARE on HOW to best UTILIZE the information we provide. As well, $500 is very affordable considering all the SCAM ARTISTS selling absolute garbage for $1200 – $2500. I took about a year off but am back working with Bill again. I like him, and I trust him… and I know most of the so-called “auditors” across the country. YES, absolutely, the of the scum-bag rip-off artists need to be identified and put up for prosecution. I have seen and have evidence of many of their so-called work product, a have a collection, really. NOT ALL AUDITORS ARE UNETHICAL, and in the future, a few of the professional ones will pave the way for many of the best attorneys. Waiting on you to set the meeting in your office! As you said, you want proof… we have it – and we will be more than happy to share it with you and other well qualified, competent attorneys. -Rob Harrington

        • Rob Harrington says:

          PS – I said “EXCLUDING YOU and 10- 20 other Florida attorneys, and maybe 100″²s across the country” – NOT including you… read carefully please, I certainly don’t want an unnecessary cat-fight.

        • Rob…you’ve always been a super stand up guy as far as I’m concerned….i wish you all the best in 2013. I’ve had far too much experience watching judges completely disregard even far more important facts than what could ever be shown as part of any audit. I also see far too many consumers who continue to get sucked into the con artists and scammers….but most importantly…and key to my title post….the florida foreclosure rescue act and the MARS rule make it impossible to sell at all to consumers……

          • Thank you for your kind words, Matt. We agree that the scammers need to be identified and put out of business. You have agreed that NOT ALL auditors are the same as the generalized classification. You have agreed that getting certain information into evidence is difficult in certain jurisdictions. That is the responsibility of the qualified attorneys on getting the proper defenses, pleadings and evidence into the record… As to the links you have wisely provided to protect consumers, I will double-down and provide them, as well in the interest of full disclosure and responsible debate that you have called for.
            (from Matt’s blog:) “In response, the Legislature passed Chapter 501.1377, The Foreclosure Rescue Fraud Prevention Act, (the full text can be found here) the intent of which is to provide a homeowner with information necessary to make an informed decision regarding the sale or transfer of his or her home to an equity purchaser. It is the further the intent of the law to require that foreclosure-related rescue services agreements be expressed in writing in order to safeguard homeowners against deceit and financial hardship; to ensure, foster, and encourage fair dealing in the sale and purchase of homes in foreclosure or default; to prohibit representations that tend to mislead; to prohibit or restrict unfair contract terms.
            Under the law an ” Equity purchaser” means a person who acquires a legal, equitable, or beneficial ownership interest in any residential real property as a result of a foreclosure-rescue transaction.
            A ” Foreclosure-rescue consultant” is a person who directly or indirectly makes a solicitation, representation, or offer to a homeowner to provide or perform, in return for payment of money or other valuable consideration, foreclosure-related rescue services.”
            ***(BPIA, a licensed Private Investigation Agency, does not offer ” foreclosure related rescue services,” we merely provide reports to be utilized by homeowners and their attorneys to build their cases through evidence to be obtained through proper discovery. Furthermore, we do not involve ourselves in any transaction regarding the sale/transfer or equity of a property. It is the responsibility of the homeowners to hire qualified counsel. It is the responsibility of their counsel to better utilize the reports in preparation of meeting the rules of civil procedure in regards to the jurisdiction’s rules of evidence, and providing proper legal defense through proper pleadings, proof and procedure.)
            “And ” Foreclosure-related rescue services” means any good or service related to, or promising assistance in connection with Stopping, avoiding, or delaying foreclosure proceedings concerning residential real property; or Curing or otherwise addressing a default or failure to timely pay with respect to a residential mortgage loan obligation.”
            ***(BPIA, a licensed Private Investigation Agency, does not offer any promise to stop, avoid, or delay foreclosure proceedings. Furthermore, in our reports and through our written disclosure/disclaimers, we do not address the homeowners’ ” cure, default, or failure of timely payment.” We merely provide reports to be utilized by homeowners and their attorneys to build their cases through evidence to be obtained through proper discovery. Furthermore, we do not involve ourselves in any transaction regarding the sale/transfer or equity of a property. It is the responsibility of the homeowners to hire qualified counsel. It is the responsibility of their counsel to better utilize the reports in preparation of meeting the rules of civil procedure in regards to the jurisdiction’s rules of evidence, and providing proper legal defense through proper pleadings, proof and procedure.)
            “Finally, ” Foreclosure-rescue transaction” means a transaction by which residential real property in foreclosure is conveyed to an equity purchaser and the homeowner maintains a legal or equitable interest in the residential real property conveyed, including, without limitation, a lease option interest, an option to acquire the property, an interest as beneficiary or trustee to a land trust, or other interest in the property conveyed.”
            ***(BPIA, a licensed Private Investigation Agency, does not involve itself in any form as an interested party as a buyer, seller, or interested party to any ” a real estate transaction.” We merely provide reports to be utilized by homeowners and their attorneys to build their cases through evidence to be obtained through proper discovery. Furthermore, we do not involve ourselves in any transaction regarding the sale/transfer or equity of a property. It is the responsibility of the homeowners to hire qualified counsel. It is the responsibility of their counsel to better utilize the reports in preparation of meeting the rules of civil procedure in regards to the jurisdiction’s rules of evidence, and providing proper legal defense through proper pleadings, proof and procedure.)
            “It is important for realtors, title agents, attorneys and especially homeowners to understand the new law and its broad application to just about any interaction between a homeowner and any party who provides any service to that homeowner. For questions about the law or to determine whether the law applies to your conduct or any other party, you are encouraged to visit the website of the Florida Attorney General here.
            The Florida Attorney General’s website states:
            “Mortgage Fraud
            What is the Attorney General doing to protect homeowners?
            Attorney General Bondi is committed to investigating any business that deceives or defrauds a consumer in the mortgage or foreclosure process.
            Consumer Tips:
            · Homeowners should NEVER pay any up-front fees and should avoid any high-pressure sales tactics. Fees may only be collected after services are completed.
            · Homeowners should first try talking to their lenders or a lawyer before contracting with any third-party company for rescue or modification services.
            · If a homeowner believes he or she has been taken advantage of by a disreputable company, he or she should call the Florida Attorney General’s fraud hotline at 1-866-9-NO-SCAM or file a complaint online at
            Additionally, many unscrupulous companies and individuals are taking advantage of the desperate situation our state’s homeowners are facing. These companies promise they can help save homes, then take outrageous up-front fees from our homeowners facing foreclosure. The companies often keep the fees, take no additional action, and let the homes fall into foreclosure.”
            *** (BPIA makes NO PROMISES AS TO THE OUTCOME OF CASES. We provide the documentation we disclose to the parties that we find, or can’t find, PRIOR TO ENGAGEMENT, through searching various databases. We go overboard to provide full disclosure and disclaimer as evidenced in writing on our website. We are a licensed Private Investigation Agency that specializes in Securitization and Chain of Title analysis. We have never received any cease or desist order from any State Attorney General or Federal Regulatory Agency in regards to our business model. Bill Paatalo, a duly licensed Private Investigator, has provide Expert Declarations and Expert Witness testimony in Courts across the country. The nature of foreclosure defense across the country is evolving and ground-breaking in regards to the careful and responsible application of the law by Judges (AND ATTORNEYS) across the country. People have a right to access credible and proper information from which to make their case and to properly defend their legal and Constitutional rights, property rights, credit rights, and to unquestionably receive fair access to due process, fact and law. Denial of the above stated rights for consumers and property owners could be (potentially) viewed as aiding and abetting criminal activity and denial of due process.
            Again, it is the responsibility of the homeowners to hire qualified counsel. It is the responsibility of their qualified ATTORNEY to better utilize the reports in preparation of Discovery, requests for admission, Interrogatories, etc., and of meeting the rules of civil procedure in regards to the jurisdiction’s rules of evidence, providing proper legal defense through proper pleadings, proof and procedure.)
            Matt, if by political means and without due process, if an AG were to specifically come after me, would you have my back? Are you ready to meet and receive the PROOF we have been offering you for about a year now? Thank you for the open debate.

        • albert says:

          for surprising references :
          Business Description: Real Estate: Loan Modification Consultants
          Complaint Description: Failed to fulfill contract
          Closing Description: Referred Complainant Elsewhere
          Business Description: Investigation Services
          Complaint Description: General allegation of unlawful conduct
          Closing Description: DOJ issued written warning to business
          as the scammer said when asking for our money : “im done answering”
          for more baseless complaints (and real outcome) contact:
          Sally O’Neil
          Enforcement Officer
          Financial Fraud/Consumer Protection Section
          Oregon Department of Justice
          at 503-934-4400 or e-mail at
          *****CONFIDENTIALITY NOTICE*****
          Debbie Myers
          State of Oregon
          Division of Finance & Corporate Securities

          Consumer Complaint Form

          one of the scammer’s victims..the ” mole” aka the ” plant” d/b/a shill for the banks

  • Bill Baskin says:

    Despite the naysayers, I tend to agree with the points you are making. Generally speaking, anyone trying to sell you an audit is likely a scam, unless it is necessary for ongoing litigation by a reputable attorney. I have had way, way too many consumers come to me who were sold a “forensic predatory lending audit”, a “Securitization audit”, and I hear the latest scam is a “Credit Default Payoff audit” for thousands of dollars, as a panacea for anything foreclosure related, or even for establishing a Cause of Action because the client is underwater. 99.9% of audits are sold not as part of ongoing litigation, but rather sold to part a struggling consumer with his last few badly needed dollars. The majority of minor TILA and RESPA violations typically found are not actionable, and likely outsude the statute of limitation. This comes from Julie Greenfield, the CA Bar’s Real Estate and Mortgage Compliance expert, based on a conversation I had with her. In California, Judges won’t even listen to this nonsense if you are behind on your mortgage. Audits are NOT a panacea for a homeowner facing foreclosure, and the only reasonable way to address a serious delinquency is to either pay the arrears, or hire a well vetted, and quality loan modification firm, with an easily provable track record of success. BK is also a remedy, but ideally there should be other debt issues in addition to the mortgage, and I would try to modify first, but talk to your BK attorney for advice specific to your case.
    If you have significant equity relative to your first lien, if your PITI payment is less than 33% of your gross income, if you hardship is still unresolved (IE: unemployed and the only income is unemployment), you are not a modification candidate most likely. CDA Law Center has a 90%+ success rate modifying loans (per Martin Andleman’s audit of 600 randomly selected files)and over 3,500 modifications achieved, so I have some clue what I am writing about here. BTW, Matt Weidner is one of the good guys out there for anyone reading this article. When it comes to any type of loan audit, BUYER BEWARE! The CA Attorney’s General has even issued a fraud alert related to these audits. If you are a consumer and feel you need a real one for ongoing litigation, I have it on good authority Marie Mcdonnell mentioned above is the best in the country at preparing them. Matt surely has her contact info, so call him and get his advice before buying one.

    • i do not now Mcdonnell, but her Amicus was compelling. There are clearly real professionals out there and their work should be respected….they should be building a track record and be demonstrating results. These results are an integral part of building the industry….it can’t all just be secret successes and confidential information sold with overblown hype to unsuspecting consumers. I’ve said it before and I say it again, the key to respectability is proven results. thank you for your comments.

  • Renoira - simple homebuyer says:

    While the problems have been outlined to us time and time again. The FBI report, John O’Brien calling his registry a crime scene, the San Francisco report that state 84% of the foreclosures had legal problems, all confirm that our country is experiencing major crimes as never before. As in the story of the emperor’s new clothes, we all know our empire is naked, knowing that their is crime is not the problem…what to do about it…that’s the problem.
    So now you have shared with us that the securitization audit is another useless tool used to fleece us once again….so then, what is the solution? Because since the laws are being overlooked in favor of the lenders, what is the solution for the homebuyers whose reputations and finances are being syphoned off by these greedy thieves? How do we fight back? How do we shift through all the BS to find some real help?
    Just wondering?

  • Being a professional in this industry and knowing what I was encouraged to do I took them on. I lost and they still stole my home. However, while time consuming I have found out some interesting news. Its ok to lie to everyone! Audits are not the issue. Its attorneys telling the truth to make a difference! These foreclosure trustees are the dirtiest of them all yet the truth continues to be hidden!
    The war on the American people is by the very people who have been paid to protect them. Most attorneys do nothing with the info given to them. The judges endorse the fraud. I’ve documented my case thru the courts and the blog sphere all in the name of the people who are DENIED. An audit doesn’t uncover the conspiracy to keep American’s from their rightful heritage!If you think doing the right thing is the thing to do you’d be wrong in their book!
    The judges endorse attorneys refusing to file adversaries that expose their fraud. The judges allow removal of court documents in cases. The judges endorse fraud upon fraud hoping to keep you on the fraud your there fighting. Versus the unclaimed millions they may of kept from you and your family. While every case may not be the same most parameters are.
    1. You originated a debt, you owe your debt regardless is what they say. 2.)Notes are endorsed in blank 3.)assignments are made in blank prior to selling forward maybe even by the servicer.
    The servicer doesn’t matter the trustee doesn’t matter what matters is who you are before the court. And who you are may not be disclosed to you thru out your life if they so choose. They say your claims have no merit however, merits aren’t decided until standing is established. Bankruptcy trustees and attorneys will say it doesn’t matter however it does. If you don’t live in a corrupt jurisdiction! However factual proof speaks volumes. There is evidence in my case that attorneys refuse to acknowledge all because I’m not an attorney. However, I held my job close to my heart knowing if I told someone something that they expected me to tell them the truth! I wanted to know if they should be in my que or not. I didn’t want lawsuits I only wanted to collect a legitimate dollar and make legitimate dollars doing good biz but their not about good biz. Their about biz creating corruption at all levels thru out history!

  • Wally Cook says:

    Matt I agree. The downside is the following: A friend of mine has a foreclosure audit business. He “only” sells his audits to attorneys. He normally charges $350. He “retired” in a year! His business is managed by well paid people who send him company reports (where ever he and his family might be at the moment. They home school their kids so they can travel) He says the demand for the product is so great because most of the attorneys are charging their clients from $2,000 to $3,000 for his $350 report! When I asked if the audits were causing court “wins”, he said he did not know; he hopes so, however, he indicated he did not think his attorney clients really cared that much; the cash flow seemed more important! Sad state of affairs!!

  • Bill Baskin says:

    The majority of “law firms” selling these “fraud reports” are more like mortgage chop-shops than law firms. You rarely will find an attorney anywhere near those offices, but some attorney has certainly rented their license out for compliance reasons, all to make some mailbox money. I don’t know a single legitimate law firm selling any type of fraud report in mass. The ones that do sell it to everyone, as some faux reason to litigate, so they can bilk their mark for $1,000 to $2,000 a month into perpetuity over a nonsense “Mass Joinder” lawsuit that is an outright scam. The unsuspecting consumer, who likely has never had occasion to use an attorney before, gets sucked in, as facially, it does sound legitimate, the the consumer is desperate for some kind of hope.
    It never ceases to amaze, me that consumers never ask to see a fraud report, the corresponding lawsuit brought as a result of the report, and the final verdict based on those claims that were supported by the report, before they shell out hard earned cash. If they asked for that in California, I don’t think a single fraud report would be sold!
    Wally, your friend is part of the problem in my view, and is as much a scammer as the person reselling his useless reports.
    Renoira, that “Study” in San Francisco was performed at no charge to the state by a Forensic Loan Audit firm, so the results are suspect at best, and self serving to say the least. Regardless, in California, you would be better served to have your forensic loan audit report delivered on a roll of toilet paper, so at least you’d be able to find some good use for it!

  • goi says:

    I’ve ‘won’ a house ‘free & clear’ and LOST a house with a co-titleholder in BK. I’ve lost $$$ to ‘scammers’ and inept attorneys. I have found a only ‘few’ that I would refer as competent and ethical. Here’s my experiences in CALIFORNIA courts:
    We all don’t deserve ‘free houses’. If this occurred we’d be economically worse off than we now are as a country. Anyone who pulled their home equity as an ATM to buy a new car and ski boat; should ‘lose’ the home. There are those who did NOT do this; hence the bank attorneys fraudulent behavior MUST be countered…..and corrected…!

    • AFM says:

      Your link was deleted. Did you do this, or someone who is trying to SCAM people for money not want anyone else to see the real truth!

  • macy says:

    Why is a Loan Modification not considered a ” Foreclosure-related rescue service”.

  • macy says:

    If the Note/Negotiable Instrument has been bifurcated from the Mortgage/Deed of Trust and has been forever converted via REMIC from a UCC-3 Negotiable Instrument to a UCC-8 Investment Securities or Stock Certificate.
    Would not the conversion and the separation of the two therefore make the contract null and void?
    On my Mortgage/Deed of Trust it states “This Deed of Trust secures a Promissory Note”
    In other words- if the Deed of Trust secures the Promissory Note- and the Note no longer exists-then would not the Deed of Trust be invalid?
    So my main question is- How would anyone have any authority to Modify a Loan based on a contract that is invalid?
    Could this be one way a loan modification could happen?
    The loan becomes delinquent and then after 60 days the servicer becomes a debt collector. The REMIC writes the debt off and the servicer then buys back the asset as a non-performing, unsecured debt (toxic asset) for pennies on the dollar so that they can negotiate a loan modification. So the servicer has purchased a discharged asset.
    Any help understanding this would be greatly appreciated.

  • izraul says:

    Securitization audits are not illegal. Securitazion audit scams are!
    Securitization is illegal for corporations! Anyway, I just want to say I know several people who received a so called “audit” from someone who’s name I won’t mention. It really pissed me off when I looked over the documents only to find all of the information they paid thousands of dollars for was exactly the same info they already received from the county.
    In fact, I found more info for these people that was very important just by doing some good old fashion work. I emailed this person with that info and some questions. Needless to say they chose to ignore me. I didn’t charge a cent for my services. I am holding back what I would really like to say about people who profit off of screwing others when they really need help. I am sure these people made a pretty penny off of this situation. Thousands of dollars for the same info they can get for the cost of the recorded documents.
    Lots of people got screwed, and that’s for sure!

  • Iris says:

    Mr. Matt I do admire your work is professional and is great, I’m not a lawyer I did pay for a Mortgage Securization Audit to a friend that had access to a Bloomerg Terminal, and I only paid 399.00 and weird but helped with the foreclosure process in my house, let me remind you, I”m not a lawyer, I have no lawyer representing me, Pls tell me what is it that you are talking about, do not judge all people because of some dishonest guys.
    Blessings may the Lord keep blessing you all the waw

  • Iris says:

    If there is a crime, and if there is fraud is WITHIN THE COURTS, THE PLAINTIFFS AND PLAINTIFF LAWYERS,THE GOVERMENT why haven’t they been investigated? why the goverment is covering all this? why the law is being ignored. ONLY ONE ANSWER, USA IS LOSING HIS CHRISTIAN BASIS AND THE LORD ALL MIGHTY WILL DEFENITELY WILL BRING EVERY CORRUPTION TO LIGHT IS JUST A MATTER OF TIME.

  • Rico says:

    How about how the entirety of the monetary system is based upon absolute FRAUD. Huh? How many of you, Esquires, or no, have read Federal Reserve documents and KNOW that the nanosecond the homeowner signs the Promissory Note, the Mortgage/Deed of Trust/Home “Loan” is PAID IN FULL??? Huh? How about reading ATTORNEY Walker Todd’s many affidavits detailing how the whole money system is a giant fraud? Where are wannabe hero attorneys? They’re either too damned ignorant or too brainwashed. I have attorneys ask me “Where’d you get your ‘theory’ on this?” And even after I tell these bozos it’s only written in about 11 Federal Reserve pubs, the Federal Reserve Act, HJR 192 later codified at Public Law 73-10, and these morons think that “Well that’s the way we’ve always done things, so it must be right!” yeah, that’s what the Nazis thought too. Just because you went to “Law” School doesn’t mean you know it all, and in fact actually is detrimental because you wannabe elitists DO THINK you know it all. A Securitization transforms a UCC Article 1 Home Loan into an Article 3 Security. Securitization removes the “loan” from the Mortgage/Deed of Trust thereby nullifying the same. When will you stupid, ignorant, arrogant esquires going to get onboard with the Truth??? Oh, that’s right. You like to parade in the System like you’re Matlock or something and you’re just as dumbed down and getting raped, robbed and pillaged in your “Loans” as well. The hubris doesn’t stop just because your benefits and privileges of this CORPORATION known as the UNITED STATES (28 USC 3002 15 (a). It’s a CORPORATION like Wal Mart or Nike you bozos. This is NOT a country. The level of ignorance is staggering in this world.

  • Rico says:

    There is very little justice because this is not Law. Statutes and Codes are not positive law, they only have the force and color of law. What we have is PUBLIC POLICY. As in CORPORATE POLICY. Statutes must be backed by BONDS. Every single one down to seatbelts and jaywalking must be bonded in order to have the force of law. The US code tells you that all “crime” in the US is COMMERCIAL. Any naysayers? One of you genius lawyers find me even the tiniest of infractions that don’t have a dollar sign attached. You aren’t living as a member of a Country. You need to go back to the legal dictionaries and comprehend the full meaning of what a CITIZEN and or PERSON is. They are what is known as an ens legis. They are fake, they do not exist in reality. We are under the Law of the Sea, the Law of Admiralty wherein Codes and Statutes and Limited Liability rules. It’s all adversarial and that is why it’s totally OK for lawyers, cops, judges, etc. can and do regularly lie their tails off to trick you. Try to get any one of them to admit that a DEMOCRACY and a Republic are NOT the same thing and they’d slit their mothers’ throats before they’d do that, because then their little world would crumble because it wouldn’t be long before people starting handling their own affairs in the Republic and then the U.S. would no longer kick out 70% of the world’s attorneys with a mere 5% of the world’s population. I’m so sick of this macabre game attorneys play. They’re either evil and know it or ignorant and unwilling to open their minds, both of which are part of the problem. If attorneys were true defenders of the people, they’d adjust their fees to suit the abilities of their Clients, and they’d place simple things like, valid causes of action to short circuit most of the cases. But, NEVER EVER FORGET that each and every attorney’s FIRST LOYALTY is always, always, always the court. That fact alone proves they’re not on your side. Attorneys and meteorologists are the only 2 professions where you can screw up all the time and still get paid and paid large. Even the Bible says Woe be unto ye lawyers. There’s good reason you all are so hated; you sell your brothers and sisters for mere profit. Only good lawyers exist in John Grisham novels. Fiction is the lifeblood of this Babylon system of Commerce. It’s not Law. Never forget we haven’t had law since 1933 when the gold and the law were removed in place of funny money (fiat currency) and fake laws (public policy). It’s past time we took the system DOWN. And then maybe you esquires can do something to actually benefit humanity, like learn to grow vegetables or build a home. Otherwise, you’re debased husks that I would urinate on if your faces were on fire. 2 pennies just bounced in front of you all”¦I’m done with the LIES.

  • Jason Brooks aka BldngPatriot says:

    You are aware of the U.S. Bank vs. Ibanez case as indicated above, but here is another case, again in Taxachusettes:
    Posted: 22 Jun 2012
    The Massachusetts Supreme Judicial Court finally issued its long-awaited ruling in Eaton v. Fannie Mae. This case involved the question of whether a “naked mortgagee”–a mortgagee that was not also the holder of the promissory note–had standing to foreclose. (Full disclosure: I submitted a pair of amicus briefs in the case arguing that foreclosure required the mortgage and the note to be united.)
    The SJC held that in Massachusetts a foreclosing party must have both the mortgage and the note or be acting on behalf of a party with the note. Critically, however, the SJC restricted the ruling to a prospective application. That means that past foreclosures cannot be reopened because of this case, so the financial services industry just dodged billions in liability for wrongful foreclosures and evictions, and the title insurance industry did as well. (Note that Massachusetts has a public option title insurer–a Torrens system of land registration that covers perhaps a third of the properties in the state. If the whole state were covered, there’d be no problem.)
    In the immediate term, I’d score the case as a major victory for the financial services industry, which avoided liability for its failure to comply with state law foreclosure requirements. Going forward, however, things are more complicated.
    Post-Eaton it is clear that in Massachusetts if one wants to foreclose one must have both the note and mortgage. That seems to tee up the chain of title issue about the note as the next stop on the SJC litigation train. Lenders were previously able to avoid chain of title questions because they would foreclose without the note. Now they’ve got to show that they are the note holder or acting on the note holder’s behalf. Merely proving agency is insufficient; a servicer must show that it is agent for the note holder, so there will be a question of whether the securitization trust has title. Given what Ibanez said about confirmatory assignments not having any effect absent evidence of the original assignment, this is going to put servicers in an awkward place when the evidence of the note assignment isn’t there.
    There are some dangerous dicta in the case, however. First, footnote 28 notes that the foreclosing party can establish that it is the note holder or acting on its behalf by filing an affidavit to that effect with the registry of deeds. I fear that is an invitation to a repetition of affidavit fraud. We’re going to see lots of affidavits filed claiming ownership of notes even when that ownership cannot in fact be proven.
    Second, the SJC was not careful in its terminology. The SJC refers to “note holder,” but then defines “note holder” as the “owner” of the mortgage (footnote 2). “Holder” is a negotiable instrument concept. “Owner” is not. And “person entitled to enforce” another negotiable instrument concept is nowhere to be found. In footnote 26, the SJC sidestepped the question of whether the note at issue was negotiable, assuming that there’s no possible conflict between UCC Article 3 and its ruling. I’m not so sure. Of course, one could read Eaton to mean that to foreclose one must be the mortgagee and also a “person entitled to enforce” or that person’s agent. This all assumes, however, that UCC Article 3 applies to the note in question.
    Stepping back, I understand that the SJC was reluctant to potentially cloud title on Massachusetts properties that had passed through foreclosure. Yet, I’m still disappointed to see the SJC give a pass to the financial services industry. Surely there was a way to craft a remedy that would have protected the interests of innocent foreclosure sale purchasers while nonetheless imposing liability for illegal foreclosures. In any case, I suspect that this is not the end of major foreclosure litigation in Massachusetts.

    I also agree that an attorney who “get’s it” is 100% necessary in this process. That’s why I only work with attorneys who utilize my services to build a successful case against the scumbag lenders who created this crisis to make themselves rich while depending on taxpayer dollars to further profit from the destruction they have caused. A competent securitization audit can be a very effective tool in foreclosure avoidance, when done properly and when provided in concert with a competent attorney who can properly use the law (REMIC specifically) to seek REMEDY.
    I believe this constitutes proof Matt, what say you?

  • izraul says:

    The amount of greed in this country is absurd. That is for sure. And the same people at the root of it all are manipulating laws to block the people from taking action. It’s going to take all the people of this country to come together and take action. Talking about it and sharing opinions futile. Rally the people!

  • scam says:

    Before you can appropriately spin comments, you must be creative and unique. Convince the creator that just because the article is extremely bland, it’s still information they should have it visible on their homepage.

  • Michael Carrigan says:

    It is helpful to know who owns the loan. If it is in the bank’s loan portfolio you still want to know how they financed it. Did the bank hold the loans in their own securitized portfolios for secured borrrowings as Golden West did?
    If the loan is in a publically reporting securitized trust, then the servicer you are dealing with only has at stake their repuation as a debt collector.
    And once a loan is securitized, no one has both an economic stake (the certificate holders of the securitized trust) and a legal claim of ownership of the notes that have had their nature changed into that of a certificate interest. The fiduciary trustee bank of the mortgage pool has legal title over those certificate interests. But no one really owns the loans themselves.
    It is also helpful to see problems with the chain of title. An assignment of a security instrument is often a way for an Assignee to use its low paid employees or agents in many cases to sign over teh Assignor’s interest using this form of asset seizure document. It is as though you give your employee of box of blank laser checks, and tell them, this lender is no longer in business but we have their blank checks. You are all now Vice Presidents and Assistant Secretary of a company called MERS. You should sign X number of these each day if you want to get paid. You don’t need to really understand what an assignment is. Don’t question us when you ask to see proof of the “for value received” or for the “good and valuable consideration”. We will provide no bill of sale; no verified proof of funds; no declaration of value forms; and pay no transfer taxes for recording of this change of ownership.
    But instead of these blank checks being cashed at the bank, they are cashed at the County Recorder’s office. And no one questions a bank. The rich are favored in judgment over the poor.
    So I for one will keep fighting the good fight. You do whatever you think the Good Lord wants you to do.

  • dmb says:

    I disagree,,, Mortgage fraud is very real.. as so assignment fraud I have fraud on my deed of trust.. robo signers… ANY LOAN THAT WAS SECURITIZED IS MORTAGE FRAUD…. SIMPLE … MANY JUDGES DO NOT UNDERSTAND.. THE borrower… has been the victim of FRAUD ITS NOT ABOUT A FREE HOUSE ..WHEN THE borrower was loan was removed from bank to borrower.. and became a security certificate to sale to many investors then the home loan is no longer the original contract.. FRAUD.. by the lender… also..the borrower interest is the money used for the investors.. says the borrower should be entitled to the same return off the interest the investors where getting.. yet the borrower did not received a dime off all the interest .. the sec..psa . pools where there .. money or interest is sitting…
    says more fraud.. to the home owner .. borrower.. if the borrower had received money and the investors did .. then the borrower could had paid off the note in full with all the money that was made off the interest as so the folks on wall st made… however the lender and the fraud… of the many trustee banks.. did not want the borrower to pay off there home…
    if the borrow paid off there home from the interest .. the borrow interest.. in te pool.. then where would the banks get there money.. yep a big fraud… but then the judges say the home owner is at fault.. no. no no the banks are.. they had no money to loan they took .. form the borrow..
    every loan that was securitized… is fraud..and the home owner should haver there home free.. and the banks owe them more then the house.. much more… fraud is fraud…

  • dmb says:

    May 2, 2012 at 5:06 PM
    If the Note/Negotiable Instrument has been bifurcated from the Mortgage/Deed of Trust and has been forever converted via REMIC from a UCC-3 Negotiable Instrument to a UCC-8 Investment Securities or Stock Certificate.
    Would not the conversion and the separation of the two therefore make the contract null and void? )))))<<
    Macy you are correct the origial loan is null…and there can be no mofifciation… the servicer does not have the note or the mortage the
    servicer is collecting money.. and sending the money they collect to whom ever…. its all fraud….. I have spoke to Ahmsi-homeward… and I
    a letter homeward sent me.. saying Deutsche bank is the owner of my note then they say the investors are the owner.. of my Mortgage..
    too funny.. this says a split..
    homeward-ahmsi..told me they are not the owner they send the money they collect to a po box not a location where I can go and talk to a banker.. also tila.. passed law in 2009 every lender when a loan changes hand they have to notify the borrower and so does the servicer both have to do this .. give phone number and address of a real place …. its a fine
    2000.00-4000.00 each offense.. yet homeward-ahmsi said they can not send me the info I request… yet they say I can do a loan mod.. i laugh and say.. how.. if you do not have my loan or not and you do not know the bank .. you olny collect .. money from a image on a comp….
    so sad…

  • marcia says:

    I am about to lose my house to the bank because my lawyer took 3 years to act and still have not acted. I have paid over 3000 dollars and with no result. He said no one owns the loan, my uncle and wife fraud me out of my property, he is dead, but she is alive. He signed a quit deed and willed the property to me, but they had secured a major loan on it with the bank. Now the bank is foreclosing on my home and my lawyer has done nothing except to tell me that I do not own the loan and the wife of my dead uncle does not own the loan,so pardon me for not laughing loud, who actually owns the loan and where can i go for sensible advice on this terrific scam, where everybody seems to win except me. I have lost all my investment and it seem no one care. Recently in desperation I accepted the deal from an estate agent who told me he could save the house and for a fee of 2,000 dollars which I entered into, now he tells me that there is not much that can be done because the lawyer had failed to act with a response to the court and the bank within the stated deadline. What stated deadline I was never told of this, my lawyer had this matter before the bank started foreclosure and plenty of time to act. Now where do i go from here. I am going around in a circle, can anyone help me?

  • jeremy says:

    You should define attorney if you wish to use the above mentioned reference. An attorney is not special to any particular class of persons. The badge that many unjustifiably wear is in itself the proof that many lawyers skated through the system and are themselves part of the American problem. The mere reliance on a society of not knowing their rights is disgusting and anyone engaging with their “pals of the system” are thieves of rights and ultimately lives. Call them what you will, but Thank God for those that help others become aware of their rights, whether they be of the BAR or just knowledgeable.

  • Well I’m thinking REAL PARTY IN INTEREST with Genuine Standing and Not ROBO SIGNED ….. LASER PRINTED or otherwise FAKED Assignment of Interest or a Fraudulent Subrogation ie A FAKE PARTY without Standing may be exposed by a Full Audit of the Assignments or the Down Streaming of the PAPER would be a proper Abstract or Search to Make Certain the Collecting Party is in Fact LEGIT. As for the Myriad of Consumer Credit Code, FTC, UCC, DTPA or Anti-Fraud Statute Violations and the other examples of Fraudulent Artifices that OBVIOUSLY are at work here ….. I’m voting for a Good Abstract of Title and the Abstracting of WHO ACTUALLY has the Wet Ink Loan Contracts. Usually the Escrow Agent is a Good place to Start and the Title Plant is I think a good stop along this track. In the 50 States and with Federal Laws as they are …. AN EXPERT ASSESSMENT of the Mess ( an Abstract ) will of course be useful. Judson Witham

  • Regis Sauger says:

    Matt, I have been aware of your work for a couple of years. I have traveled the country on this subject. I have taught lawyers, bankers,investors and homeowners. There is NO silver bullet to get a free house. I simply instruct lawyers that when they are presenting their case, they inform the court that “the client is not denying there is a debt. (not the debt in question) They simply want the court to have the party claiming to own the debt to prove it. They also inform the court that, based on an amount determined by the cout, that the client will tender that that amount with the court and for a time frame that the court deems appropriate for the purported owner of the debt to prove ownerhsip. This has gotten attention.
    Now, regarding the audit. I agree that an audit in the hands of the consumer might not be admissiable evidence. The audit MUST have an affidavit (notarized) and when it is done by a Licensed Private Investigator it is almost always admissable evidence. But, in closing, we work with a number of attorneys and realtors across the country and our mission is “negotiation instead of litigation”. Litigation is like watching the super-bowl. The players are the attorneys. The consumer is the fan. When the fan, runs out of money, the attorneys don’t get paid and the game stops. What happens to those poor folks that cannot afford a ticket to this spectacle?
    Keep you your fight. Just becasue the results are less than favorable, everyone MUST understand that an attorney that is competent can keep a case going for a long time. On the streets this is marketed as “cheap rent”. In the end, in litigation it is always up to the Judge to rule and historically he is always ont he side of the banks.

  • Steve says:

    Dear Mr. Weidner,
    I’m not a lawyer or auditor so I don’t have a dog in this debate, but I am one of the Pro Se Defendants you are claiming you want to protect, and have been in both the securities market and the legal industry providing litigation support, e-Discover, and staffing services for over 20 years. I have been successfully defending my own case since 2005 when foreclosure defense was not even on the radar of most legal service providers. I think you have done much more harm than good by posting such a negative blog on this subject.
    I agree there are many scams in the foreclosure defense market and anyone advising a homeowner to ignore a lawsuit should be held accountable. However, I can’t agree with your “opinion” and “interpretation” that any service provider providing access to hard to find data, information, litigation support, or e-discovery services directly to the public is a criminal. That is a asinine statement.
    Pro Se Defendants have every right to the same judicial system and any hard to find data, informational databases, e-discovery or support service that any attorney does.
    All homeowners, rather in foreclosure or current on their mortgage, should be demanding transparency into the public databases holding critical loan level data, mortgage-backed securities transaction databases and accurate chain of title information to help fight the massive fraud upon our courts with bogus transfer and assignments. The banks are fighting hard to hide this data and sweep their fraud under the rug by taking trusts dark.
    Not to mention access to the historical data that can help prove a falsely inflated market and fraudulent appraisals driven by the national securitization scheme. Just because you have a law degree doesn’t give you any special rights or exclusivity to such information and I don’t have to be lawyer to understand it and use it.
    Moreover, many companies in many industries provide access to search for and discover various types of critical data. It’s not a crime to sell access to information as you stated. Besides, I know from personal experience how hard the banking industry has made it to find and access this data and will gladly pay for someone else with the expertise to spend their time to find it and present it back to me for use in my case.
    At least the investors who bought a lot of bad loans in the mortgage-backed securities offerings are starting to demand access to the data for their high-stakes mortgage-backed securities litigation. It must be working because all the GSEs are working on providing such data as we speak. Why can’t simple homeowners use the same information and service?
    Quit trying to demonize a whole industry because of your personal experiences. The world and this problem is much larger than you and your little practice. We all need to come together and unite for the homeowners who are having their precious property rights stripped away.
    All the best and God Bless,

  • frdmfytr says:

    The fact the bankers alone could not have pulled these crimes off without the help of regulators boggles the mind.

  • Good Morning Matt,
    While I understand where you are coming from and I agree with what you are saying in regards to what is being put out as a so called audit. As most of the so called audits are just providing cursory information. I would encourage you to take a close look at the cases that many attorney’s try to litigate without having a clue as to what the correct cause of action or argument is. When you bring forth the argument you need to attack on all 3 levels at the same time, this being the tangible promissory note, the mortgage, and the payment intangible as well as using the correct laws and jurisdiction that those laws relate to. You need to argue and fight in tandem otherwise you will get your but kicked in court as you well know. There are good work products that are out there that that attorneys are using for negotiation and winning. I know because I created the work product that our company puts out. It is a chain of title analysis and many attorney use it. I would encourage you to take a more in depth look at what is out there to use and how to use it correctly. If you would like to dive deeper into how to bring the correct arguments forward correctly that is for another day and I am open for that.
    Joseph Esquivel
    Mortgage Compliance Ivestigators

    • Sorry, but we’ll have to disagree on just about every point you make. Actually, your response is precisely why I state quite clearly, NEARLY ALL FORECLOSURE AUDIT/RESEARCH IS A SCAM AND TOTAL WASTE OF MONEY.
      Part of what you say makes logical and perhaps intuitive sense. The problem with ALL OF WHAT YOU SAY is that it is in direct conflict with THE LAW. Appellate courts across this state (and in most states around the country) have routinely flat out rejected most all of what you say. And so, while what you are asserting we may want to be The Law, it is not. That’s the hard, cold facts and you just cannot argue around that. You’re trying to tell me what The Law is and, respectfully, what “The Law Is” is a subject that many, many very dedicated attorneys and judges with decades of experience argue bitterly over every single day. I’ve said it repeatedly, and I will state it quite clearly again….what you are advertising on your website runs afoul of state and federal law…I see that you are trying to dance around MARS and Foreclosure Rescue, but the dance will not protect you. The problem is nearly all of the statements on your site give false hope and completely incorrect legal analysis that consumers rely upon…..hell, you’re on my site trying to sell me…. Just think this through….what happens when a consumer stands before a judge making the arguments you’ve made in your post….arguments that are totally contrary to the law? The consumer is going to lose his home. Because he relied upon your totally incorrect legal advice. This is exactly what MARS and Foreclosure Rescue intends to prevent.

  • Hope you can make it to the seminar this weekend, Matt. We look forward to presenting our strategies to a person that can help a lot if Floridians.

  • I will demonstrate how to challenge assignments. Hear me now and believe me later. An audit is information not a silver bullet, however, they have helped me in my practice.

  • Anthony says:

    Just thought people need to know where the money comes from in the banks own words!
    This complete booklet is was originally produced and distributed free by:
    Public Information Center
    Federal Reserve Bank of Chicago
    “Of course, they do not really pay out loans from the money they
    receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the
    borrowers’ transaction accounts. Loans (assets) and deposits (liabilities) both
    “Two Faces of Debt” by Federal Reserve Bank of Chicago Sept. 1992
    “Such newly created funds are in addition to funds that all financial institutions provide in their operations as intermediaries between savers and users of savers”
    “I Bet You Thought” Federal Reserve bank of New York Dec. 1977
    Commercial banks create checkbook money whenever they grant a loan. Simply by adding new deposit dollars to account on their books in exchange for a borrower’s IOU.
    So just remember when the banks takes your home “the banks does not have a dime in the loan” but yet they get your house for FREE!!!

  • Anthony says:

    Banks loan their credit “NOT” their money!!!

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