Glaski Decision in California Appellate Court Turns the Corner on “Getting It”

Neil_GarfieldGlaski Decision in California Appellate Court Turns the Corner on “Getting It”

By Daniel Edstrom
DTC Systems, Inc.

The following article was posted by Neil F. Garfield of livinglies.wordpress.com and comes from the following URL: http://livinglies.wordpress.com/2013/08/02/glaski-decision-in-california-appellate-court-turns-the-corner-on-getting-it/

On the other hand we should not assume that they have arrived nor that this decision will have pervasive effects throughout California or elsewhere in the United States or other countries.

J.P. Morgan did suffer a crushing defeat in this decision. And the borrower definitely receive the benefits of a judicial decision that will allow the borrower to sue for wrongful foreclosure including equitable and legal relief which in plain language means reversing the foreclosure and getting damages. Probably one of the most damaging conclusions by the appellate court is that an examination of whether the loan ever made it into the asset pool is proper in determining the proper party to initiate a foreclosure or to offer a credit bid at a foreclosure auction.  The court said that alleged transfers into the trust after the cutoff date are void under New York State law which is the law that governs the common-law trusts created by the banks as part of the fraudulent securitization scheme.

Continue reading “Glaski Decision in California Appellate Court Turns the Corner on “Getting It””

10/6/2012 – Sacramento, CA – Full Day CLE Workshop Seminar: Bankruptcy Strategies for Distressed Multiple Property Owners and Homeowners in using Chapter 11

10/6/2012 – Sacramento, CA – Full Day CLE Workshop Seminar: Bankruptcy Strategies for Distressed Multiple Property Owners and Homeowners using Chapter 11

October 6th, 2012 – in Sacramento, California (Auburn)

Venue is the Holiday Inn Auburn, CA http://auburnhi.com (Subject to change, check back often)

We are seeking approval for Minimum Continuing Legal Education (MCLE) from the State Bar of California for 6.75 Total credit hours.

SECURE DOCUMENT RESEARCH
Auburn, CA 95603; ph: 530.888.9600

DTC Systems, Inc
[email protected]
http://www.dtc-systems.net

Presented by:
Secure Document Research and DTC Systems, Inc
http://www.dtc-systems.net in Association with the Yarmy Law Group http://yarmylawlv.com/

REGISTER EARLY, LIMITED SEATING IS AVAILABLE
Register: http://sdr-sacramento.eventbrite.com/

Standard attorney enrollment fee is $497.00
Standard Property Owner/Homeowner enrollment fee is $197.00

Visit us at http://www.dtc-systems.net

If you have any problems registering for this event, you can also register by sending PayPal payments directly to [email protected]

Problems Registering? Call 530.888.9600

Presented by:
Secure Document Research and DTC Systems, Inc. in Association with the Yarmy Law Group
REGISTER EARLY, LIMITED SEATING IS AVAILABLE

Workshop Information
This is a comprehensive 1-day workshop CLE seminar for lawyers and paralegals: Bankruptcy Strategies for Distressed Multiple Property Owners and Homeowners using Chapter 11

We are seeking approval for Minimum Continuing Legal Education (MCLE) from the State Bar of California for 6.75 Total credit hours.

Speakers:

1. James Macklin
Owner of Secure Document Research providing Securitization Research and Analysis. While working briefly within the securities industry, Mr Macklin has been focused on the study of economics and macro-economics for over fifteen years, gathering professional insight into Generally Accepted Accounting Principles, Financial Accounting Standards, business ethics, securitization and the effects of “Control Fraud” (William Black, Professor; U.M.K.C.,) on market analysis. Mr. Macklin is now committed to the education, en mass, of the legal industry as a tool for the protection of rights of the under-sophisticated investing and borrowing public at large. James Macklin has over 10,000 hours of research into Securitization, Title and Publicly Recorded Instruments.
[email protected]

2. Daniel Edstrom
President of DTC Systems, Inc, having been in Information Technology for the last 18 years as a Systems Architect and Software Architect.The transformation of complex business requirements to complex Wall Street Engineering was an easy one. Securitization Expert, Daniel Edstrom analyzes complex financial engineering securitization transactions as well as providing a failure analysis, with well over 10,000 hours of research into Securitization and Title. Besides working for his own company, Daniel is a Senior Securitization Analyst for the Garfield Firm (www.garfieldfirm.com).
[email protected]

3. Steve Yarmy
I started a chapter 11 practice about three years ago to assist businesses and individuals who were hard hit by the drastic decline in property values. I have filed over 50 chapter 11 bankruptcies. I have achieved enormous success in confirming the chapter 11 plans. I attribute my success to building relationships with the creditors attorneys, along with a developed strategy in processing the chapter 11. This process has been duplicated by other chapter 11 attorneys because of my streamlined strategy.
Do to the success achieved in Las Vegas chapter 11’s, I initiated a practice in the Reno area (Yarmy Law Group).  Currently, I associate with the Kidder Law Group which is located in the Reno area. We have over 7 plans on file, and expect a tremendous confirmation rate.
Recently, I have a Pro Hoc Vice with a California attorney in an effort to pass on the success to parties in California. We anticipate working closely with counsel in California to expand the case load there.
Presently, I devote most of my time to chapter 11 bankruptcies and any litigation resulting from lender practices. I plan to continue this trend for sometime moving forward.
[email protected]

4. Chris Craig, M.B.A.
Legal Assistant to Steve Yarmy

*Both James Macklin and Daniel Edstrom are not attorneys.

THIS WORKSHOP AND/OR ANY MATERIALS DISTRIBUTED AT THE WORKSHOP IS NO SUBSTITUTE FOR LEGAL ADVICE FROM LOCAL COUNSEL LICENSED TO PRACTICE IN THE COUNTY AND STATE WHERE THE SUBJECT PROPERTY IS LOCATED. The information presented is for general information for you to understand the current context of foreclosures and to enable you to ask relevant questions of an attorney of your choosing. Any opinions presented here, along with facts, cases, examples or arguments, may not apply to your case. You should consult with local licensed counsel before employing them.

Venue:
Venue is the Holiday Inn in Auburn, CA
http://auburnhi.com (Subject to change, check back often)

Registration:
Pre-Registration is required and can be done on this website or over the phone at 530.888.9600, with payment by PayPal to [email protected]. Tickets will be emailed after payment is completed.

Pricing:
Attorneys: $497.00 for the one day worksho
Property Owners / Homeowners: $197.00 for the one day workshop

We are seeking approval for Minimum Continuing Legal Education (MCLE) from the State Bar of California for 6.75 Total credit hours.

Workshop Agenda

8:30–9:15 Introduction: James Macklin / Daniel Edstrom
9:15–10:00 Consummation and Closing Failure Analysis: Daniel Edstrom
10:00–10:15 Morning Break
10:15–11:00 Understanding the Purpose of the Recording Statute: James Macklin
11:00–11:45 Chapter 11 Bankruptcy Introduction: Chris Craig, M.B.A.
11:45 to 1:00 Lunch
1:00–1:45 Attracting Clients & Using the Creditor to Pay Attorneys fees: Steve Yarmy, Esq.
1:45–2:30 Filling out the Petition & First Day Motions: Steve Yarmy, Esq.
2:30–2:45 Afternoon Break
2:45–3:30 Operating Reports, Property Valuations and Motions: Steve Yarmy, Esq.
3:30–4:15 Panel Q&A

** Schedule subject to change without notice **

Attorneys General of California and Nevada Announce Mortgage Investigation Alliance

Attorneys General of California and Nevada Announce Mortgage Investigation Alliance

By Daniel Edstrom
DTC Systems, Inc.

Press Release December 6, 2011

Attorneys General of California and Nevada Announce Mortgage Investigation Alliance

LOS ANGELES — Attorneys General Kamala D. Harris of California and Catherine Cortez Masto of Nevada today announced that their states have entered into a joint investigation alliance designed to assist homeowners who have been harmed by misconduct and fraud in the mortgage industry.

By forging this alliance, California and Nevada will combine investigative resources, including litigation strategies, information, and evidence gathered through their respective ongoing investigations, assisting each state as it pursues independent prosecutions.

This alliance will link the offices’ civil and criminal enforcement teams, speeding along the full, fair and adequate investigation of wrongdoing in the two states, which have experienced similar foreclosure and mortgage fraud crises. Continue reading “Attorneys General of California and Nevada Announce Mortgage Investigation Alliance”

How to Get a Full Accounting in California

Edstrom_MortgageSecuritization_POSTER_17_x_22_v4_1How to Get a Full Accounting in California

By Daniel Edstrom
DTC Systems, Inc.

Here is an appeals court case showing how to plead a cause of action for an accounting.  In the securitization of residential loans, this issue is frequently discussed, but I have never seen it brought in a lawsuit.  This appeals court case is certified for publication and was filed on April 22, 2009.

Accounting

A cause of action for an accounting requires a showing that a relationship exists between the plaintiff and defendant that requires an accounting, and that some balance is due the plaintiff that can only be ascertained by an accounting.  (Brea v. McGlashan (1934) 3 Cal.App.2d 454, 460, 39 P.2d 877;  5 Witkin, Cal. Procedure (5th ed. 2008) Pleading, § 819, p. 236.)

An action for accounting is not available where the plaintiff alleges the right to recover a sum certain or a sum that can be made certain by calculation.  (St. James Church of Christ Holiness v. Superior Court (1955) 135 Cal.App.2d 352, 359, 287 P.2d 387.)   A plaintiff need not state facts that are peculiarly within the knowledge of the opposing party.  (Brea v. McGlashan, supra, 3 Cal.App.2d at p. 460, 39 P.2d 877.)

Full Ruling: http://dtc-systems.net/wp-content/uploads/2011/12/Teselle-vs-McLoughlin-C054919-CERTIFIED-FOR-PUBLICATION.pdf