Anger Growing Over the Office of the Comptroller of the Currency’s Regulation of National Banks

Anger Growing Over the Office of the Comptroller of the Currency’s Regulation of National Banks

By Daniel Edstrom
DTC Systems, Inc.

Instead of regulating the national banks as they have been mandated, the Office of the Comptroller of the Currency (OCC) appears to actually be promoting the outrageous behavior of the banks.  According to various groups, “Right now, more than 500 people are making lots of noise outside the Office of the Comptroller of the Currency – the worst bank regulator that you never heard of.   They are demanding that the OCC stop throwing homeowners under the bus in the their tireless efforts to protect the big banks.”

Apparently the OCC does not know that citizens are using the Internet to understand what they are doing.  The OCC believes it can stand up against the very people of this country that it was specifically designed to protect – the citizens who are being used as pawns.  The people are being taken for a ride by the national banks who are and have been operating outside of their authority for many years (at least 5 years, probably much longer).  How can the banks be operating outside of their authority?  When they operate against public policy, including when they have inadequate risk measurements in place and inadequate internal controls.  This is obvious from their actions over the last 5 years – including the use of robo-signers, flagrant notary violations, inadequate affidavits and declarations, etc., etc.  The list goes on and on, but this is nothing new to the OCC.  After all, they have given legal opinions based on this very information.  They know exactly what is going on but apparently refuse to act – or are completely incompetent.  Because they are doing the very opposite of what they have given in their legal opinions, it is apparent that they are not incompetent, but are refusing  to enforce their very own regulations. Continue reading “Anger Growing Over the Office of the Comptroller of the Currency’s Regulation of National Banks”

MERS Getting Crushed in Oregon – Three Rulings Against MERS in February Alone

MERS Getting Crushed in Oregon – Three Rulings Against MERS in February Alone

By Daniel Edstrom
DTC Systems, Inc.

Brent Hunsberger from the Oregonian has reported that hundreds of Oregon foreclosure sales have been stopped after judges’ rulings (http://www.oregonlive.com/business/index.ssf/2011/03/rulings_put_brakes_on_hundreds.html).   Two rulings are from October 2010, but three rulings were from February 2011.  Apparently Oregon has a law requiring all intervening assignments be recorded.  This appears to be a problem since MERS was specifically designed to hide the beneficial ownership of the loan and to avoid the payment of taxes on the transfer or assignment of the loan.  The interesting thing is this article from the Oregonian says that the legislature needs to “fix” this issue.  But the current laws appear to be sufficient.  It wasn’t the homeowners across the United States who decided to defraud the homeowners, county and state governments, it was the banks that were looking to defraud homeowners, county and state governments.

Continue reading “MERS Getting Crushed in Oregon – Three Rulings Against MERS in February Alone”

JP Morgan Chase and McCarthy & Holthus – Destroying America, One House at a Time

JP Morgan Chase and McCarthy & Holthus – Destroying America, One House at a Time

By Martin Andelman
Mandelman Matters
http://mandelman.ml-implode.com

 

Homeowner Suffers Horrific Injustice at the Hands of JPMorgan Chase

http://mandelman.ml-implode.com/2011/03/homeowner-suffers-horrific-injustice-at-the-hands-of-jpmorgan-chase

For over two years I’ve had a front row seat for the foreclosure crisis, the by-product of our government’s complete mishandling of the worst economic downturn in seventy years.

During that time I’ve been exposed to some pretty horrific things… people living in their cars with a child sleeping in the trunk… the eviction of an 89 year-old couple… I’ve gotten to know what that fear sounds like and feels like… the fear of losing one’s home while the country talks about you as being nothing more than an “irresponsible borrower,” someone who never should have bought your home in the first place, even though you may have lived in it for 30 years.

What I saw this past week, however, was something new for me… I’d heard of things like this happening before, written about them, even.  But, I had never seen anything like it, up close and personal.

As a warning… this story is not for the squeamish.  If you’re pregnant, or have heart disease, or just want to go on pretending that your country is still a place of which you’re proud… it’s better that you click off now… because this one isn’t going to make you laugh.

Continue reading “JP Morgan Chase and McCarthy & Holthus – Destroying America, One House at a Time”

Securitization Workshop for Attorneys March 19th 2011 in San Francisco

Securitization Workshop for Attorneys March 19th 2011 in San Francisco

By Daniel Edstrom

Join us for our 3rd Securitization Workshop for Attorneys being held in San Francisco on March 19th, 2011.  Visit the event website for more information: http://securedocumentresearch.eventbrite.com

This workshop has been approved for Minimum Continuing Legal Education (MCLE) by the State Bar of California.  Total credit hours approved are 6.75 hours.

Description of event:

SECURITIZATION WORKSHOP FOR ATTORNEYS
March 19th, 2011 – in San Francisco, CALIFORNIA

Continue reading “Securitization Workshop for Attorneys March 19th 2011 in San Francisco”

L Randall Wray – MERS is Toast – RIP

L Randall Wray – MERS is Toast – RIP

By Daniel Edstrom
DTC Systems, Inc.

If you have MERS on your loan, banks messed up big time and get no “do over” – congratulations on owning your house free and clear (once you wrestle it free of the big banks that is).  So says L Randall Wray, who is the Professor of Economics and Research Director of the Center for Full Employment and Price Stability, University of Missouri–Kansas City.  Read his entire article here: http://www.benzinga.com/news/11/02/867233/new-yorks-us-bankruptcy-court-rules-merss-business-model-is-illegal

Congratulations to the mega banks and companies that are MERS shareholders:

MERS has no agency – New York Bankruptcy Court: in re Agard

The following is a New York Bankruptcy motion for relief from stay ruling from February 10th, 2011

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF NEW YORK

—————————————————————–x

In re:

Case No. 810-77338-reg

FERREL L. AGARD,

Chapter 7

Debtor.

—————————————————————–x

MEMORANDUM DECISION

Before the Court is a motion (the “Motion”) seeking relief from the automatic stay

pursuant to 11 U.S.C. § 362(d)(1) and (2), to foreclose on a secured interest in the Debtor’s real

property located in Westbury, New York (the “Property”). The movant is Select Portfolio

Servicing, Inc. (“Select Portfolio” or “Movant”), as servicer for U.S. Bank National Association,

as Trustee for First Franklin Mortgage Loan Trust 2006-FF12, Mortgage Pass-Through

Certificates, Series 2006-FF12 (“U.S. Bank”). The Debtor filed limited opposition to the Motion

contesting the Movant’s standing to seek relief from stay. The Debtor argues that the only

interest U.S. Bank holds in the underlying mortgage was received by way of an assignment from

the Mortgage Electronic Registration System a/k/a MERS, as a “nominee” for the original

lender. The Debtor’s argument raises a fundamental question as to whether MERS had the legal

authority to assign a valid and enforceable interest in the subject mortgage. Because U.S. Bank’s

rights can be no greater than the rights as transferred by its assignor – MERS – the Debtor argues

that the Movant, acting on behalf of U.S. Bank, has failed to establish that it holds an

enforceable right against the Property.1 The Movant’s initial response to the Debtor’s opposition was that

MERS’s authority to assign the mortgage to U.S. Bank is derived from the mortgage itself which

allegedly grants to MERS its status as both “nominee” of the mortgagee and “mortgagee of

record.” The Movant later supplemented its papers taking the position that U.S. Bank is a

creditor with standing to seek relief from stay by virtue of a judgment of foreclosure and sale

entered in its favor by the state court prior to the filing of the bankruptcy. The Movant argues

that the judgment of foreclosure is a final adjudication as to U.S. Bank’s status as a secured

creditor and therefore the Rooker-Feldman doctrine prohibits this Court from looking behind the

judgment and questioning whether U.S. Bank has proper standing before this Court by virtue of a

valid assignment of the mortgage from MERS.
Continue reading “MERS has no agency – New York Bankruptcy Court: in re Agard”

Ben Ezra Order to Show Cause Why Ben Ezra & Katz Should Not be Held in Contempt of Court on Feb 11, 2011

Ben Ezra Order to Show Cause Why Ben Ezra & Katz Should Not be Held in Contempt of Court on Feb 11, 2011

From LivingLies, which posted it from 4ClosureFraud.org …

How is this for some timing.

Last night Fannie Mae announced they are dumping this firm and today we get this…

CENTRAL MORTGAGE COMPANY,
PLAINTIFF,

VS.

EDUARDO GONZALEZ DELREAL
ETAL,
DEFENDANTS,

ORDER TO SHOW CAUSE WHY BEN-EZRA &  KATZ SHOULD NOT BE
HELD IN CONTEMPT OF COURT ON FEBRUARY 11, 2011 AT 9:00A.M.

From the order to show cause…

Counsel  for  the Plaintiff, Ben-Ezra &  Katz were properly noticed  to  appear for  hearing  on  January 21,  2011  and  failed  to  do  so.  The Court attempted to  contact Ben-Ezra &  Katz  to  address  this matter  during hearing,  but was unable  to get anyone on  the  telephone.

In  the  instant Case,  Plaintiff filed  an  action  of foreclosure  on Defendant’s property located at 1301  SW 2601 h  Terrace, Homestead, FL 33032.

Continue reading “Ben Ezra Order to Show Cause Why Ben Ezra & Katz Should Not be Held in Contempt of Court on Feb 11, 2011”

Support Cameron/Baxter Films in support of Foreclosure Defense!

Support Cameron/Baxter Films in support of Foreclosure Defense!

By Daniel Edstrom
DTC Systems, Inc.

HELP KICKSTART the Foreclosure Crisis film “COPS ‘n ROBBERS vs THE PEOPLE: the Death and Rebirth of the American Dream”. Taking the High Road. This is a movie of the People, by the People, for the People. Join our Kickstarter.com backer community and INSPIRE AMERICA to its higher conscience! VALENTINE’S DAY DEADLINE. FEB. 14! http://kck.st/hLX9W5

Virginia resident gets foreclosure notice on Port St. Lucie home she sold in 1994

Virginia resident gets foreclosure notice on Port St. Lucie home she sold in 1994

December 5th, 2010 by TCPalm.com

By Nadia Vanderhoof

PORT ST. LUCIE — About 10 p.m. the Saturday after Thanksgiving, Cathy Hammers abruptly was woken up by a continuous loud banging on the front door of her Virginia home.

With two kids in college and a third touring the country in a rock band, she thought law enforcement was at her door with bad news of a possible car accident involving a family member.

Instead, Hammers was served foreclosure papers by Texas-based Nationstar Mortgage and the Fort Lauderdale law firm of Marshall Watson on a Port St. Lucie home Hammers and her parents sold in 1994 — a property she hasn’t owned or seen in 15 years.

“He was ringing the door bell, banging real hard on the door … the dogs were going crazy,” Hammer said. “When I asked him who he was. He asked me if I was Cathy and told me I was being served foreclosure papers. He said he was a process server with ASAP Legal Services and then just took off.”

According to court documents filed in St. Lucie County, a quit claim deed and satisfaction of mortgage were filed by Hammers and her parents on the home at 2291 S.W. Susset Lane in 1994.

Treasure Coast legal experts say Hammers’ case could be one of the most unusual to occur within the 19th Judicial Circuit, which encompasses Martin, St. Lucie, Indian River and Okeechobee counties.

“When I talked to Marshall Watson, Sonya in their litigation department, and asked why I was being served foreclosure papers on a mortgage I did not sign, on a property I haven’t lived in for almost 20 years, she got snippety with me and asked if I had an attorney. Why would I need an attorney when they’ve made the mistake?” Hammers said.

Marshall Watson is one of four practices under investigation by the Florida attorney general for questionable foreclosure paperwork. Attorneys Ida Moghimi-Kian and Ingrid Fadil, who are listed on Marshall Watson’s foreclosure documents, did not return calls.

Scripps Treasure Coast Newspapers began its investigation and contacted the Florida Attorney General’s Office early Tuesday, but staff declined to comment on the state’s active investigation into Marshall Watson and Hammers’ specific situation.

“Our office is inquiring into the situation and will be contacting the company to discuss this issue directly,” said Sandi Copes, spokeswoman for the Florida Attorney General’s Office, late Tuesday afternoon.

By Thursday, Hammers said Marshall Watson had completely changed their tune.

“They apologized profusely and said they would prepare the documents for me to sign … and that they were going to file a motion with the courts to remove my name from the foreclosure completely,” an ecstatic Hammers said. “I don’t know who called who or what was said, but their treatment of this completely changed. I felt like I was being treated like scum before, like a nobody. No one wanted to listen to me at their office.”

Hammers said she still planned to file her complaint with Copes’ office to document Marshall Watson’s treatment of the situation.

Nationstar Mortgage’s attorney Matt Floyd said the problem stemmed from an error in the way the home’s quit claim deed was recorded in the ‘90s. He said Nationstar contracts with law firms, including Marshall Watson, to process and serve foreclosure notices.
Continue reading “Virginia resident gets foreclosure notice on Port St. Lucie home she sold in 1994”

Fed Attempts to Re-Align Rescission Rights

The Fed has announced it’s intention to change the 3 year right of rescission that all homeowners currently enjoy.

Fed Attempts to Re-Align Rescission Rights

Jim Macklin
Secure Document Research

The Fed has announced it’s intention to change the 3 year right of rescission that all homeowners currently enjoy. This rule was implemented as a foundational protection of rights for home buyers who have been the victims of any number of consumer lending violations. It’s pretty simple: if a homeowner finds a violation of certain laws as it relates to the loan process, i.e.; a lender fails to disclose material information that might sway a loan decision by a home buyer, then the consumer has an extended period of three years in which to cancel the transaction. Under this scenario, the lender must either bring an action in court for declaratory relief which proves they are innocent of the wrongdoing, or they must refund the consumers’ money and the consumer may re-purchase the property through a different source of financing, or give up the property as a matter of equity.

The Fed, in its’ infinite wisdom, has decided that what’s best for the American economy is to make foreclosures even more airtight by eliminating this fundamental right to cancel. Of course, it is for our own good and the Nations’ best interests…right? I mean, if you did receive a predatory or improperly disclosed loan, you probably shouldn’t have any rights anyway because you really weren’t going to be making the payment, at least that’s what the Fed is pushing on Congress.

This is not only a bad policy, it is the epitomy of the Feds’ brash, Holier Than Thou attitude toward the consuming American Public. Whenever something is touted as being good for policy, or a “necessary measure” for re-gaining economic balance in the housing market, you can rest assured that your rights are being dragged through the dirt by an out of control, under-fed horse named the “ABA” (American Bankers Association).

Call or write your Representatives in Congress and scream long and loud for your rights, lest they be trounced. That’s how you wanted it…right?

Jim Macklin
Secure Document Research