The Wrong Remedy at the Wrong Time, Part 3

The Wrong Remedy at the Wrong Time, Part 3

By Daniel Edstrom
DTC Systems, Inc.

The previous three parts to this topic related to the trustee and the beneficiary having the right to petition the court under California Probate Code 17200. This section will talk about the rights of the settlor to petition the Court under California Probate Code 17200.

California Civil Code 2934b says the following:

Sections 15643 and 18102 of the Probate Code apply to trustees under deeds of trust given to secure obligations.

Continue reading “The Wrong Remedy at the Wrong Time, Part 3”

LAWYERS CLE WORKSHOP ON FORECLOSURE DEFENSE AND OFFENSE

LAWYERS CLE WORKSHOP ON FORECLOSURE DEFENSE AND OFFENSE

April 30 to May 1, 2011 – in Phoenix, Arizona

Venue is to be determined

World Savings Bank Loans Were Securitized – Pooling and Servicing Agreement Uncovered

World Savings Loans Were Securitized – Pooling and Servicing Agreement Uncovered

By Daniel Edstrom
DTC Systems, Inc.

Contrary to what Wells Fargo is saying in court, we have proof that World Savings Bank Securitized loans into REMICs. We had some evidence of this already, but newly added is a Pooling and Servicing Agreement that we have acquired for World Savings Bank REMIC 12. The terms are fairly standard that you see in most other securitizations, except that World Savings Bank played nearly all parts in the transaction (the originator, sponsor/seller, depositor, underwriter, etc). The servicers were required and obligated to make principal and interest payments whether or not they receive them from the homeowners, the notes were required to be endorsed without recourse to the order of Trustee and showing an unbroken chain of endorsements [..] from the originator thereof to the Person endorsing it to Trustee. It is all here, even the second set of books kept by the master servicer (you know, the true accounting that is concealed, misrepresented and not disclosed to any court of law).

This is a HUGE breakthrough for those looking for evidence that their World Savings Bank loans were securitized.

Download the Pooling and Servicing Agreement here

Wells Fargo will Freeze your Accounts if you Declare Bankruptcy

Wells Fargo will Freeze your Accounts if you Declare Bankruptcy

By Daniel Edstrom
DTC Systems, Inc.

We are receiving numerous reports that when bankruptcy is filed by a consumer, their accounts with Wells Fargo are frozen. This is just a warning to all of those with any type of accounts at Wells Fargo. Be prepared to lose access to your accounts for at least 30 days, probably longer. Too big to fail? No, too big to keep.

Foreclosure Mills Continue Down the Wide Path of Destruction

Foreclosure Mills Continue Down the Wide Path of Destruction

By Daniel Edstrom
DTC Systems, Inc.

We have already talked about the foreclosure mills the Law Offices of David J. Stern PA and Ben-Ezra & Katz PA and NDEx West (owned by Dolan Media) with its doppelgänger foreclosure mill law firm, Barrett Daffin Frappier Turner & Engle. Now we turn our attention to Shapiro & Burson apparently out of Maryland. As stated on livinglies.wordpress.com (and originally from 4closurefraud.org), The Baltimore Sun’s Jamie Smith Hopkins reports that 1,000 or more Maryland deeds are likely forgeries that were created by a foreclosure mill (the law firm of Shapiro & Burson). It turns out that last year two other law firms in Maryland admitted they had forged signatures on foreclosure documents in a similar manner (Bierman Geesing & Ward along with Covahey Boozer Devan and Dore). I have already shown that NDEx West (owned by Dolan Media) along with Barrett Daffin Frappier Turner & Engle does the same thing. This is very easy to show for just about any foreclosure mill. Here is how. Just go down to the recorders office and pull up 20 documents in each of the last 3 or 4 years naming your favorite foreclosure mill (NDEx West or whoever). The chances of you not finding one forgery are probably close to 0%. The chances of you finding multiple forgeries is very high (99%+). Continue reading “Foreclosure Mills Continue Down the Wide Path of Destruction”

Update on Foreclosures in Oregon

Update on Foreclosures in Oregon

David Ambrose
Ambrose Law Group, LLC

Here is the latest, which while limited to Oregon, certainly can be applicable to any other states permitting nonjudicial foreclosure actions but requiring the recording of assignments of the mortgage or trust deed.

You may recall the postings about the decision of Judge Alley in U.S Bankruptcy Court in Oregon (McCoy v BNC Mortgage), finding that in to proceed with nonjudicial foreclosures in Oregon, the applicable statute requires that there be a chain of recorded assignments (which, by the way, in Oregon you cannot record a document unless it is notarized), from the original beneficiary to the current beneficiary, and that MERS is not the beneficiary.

Continue reading “Update on Foreclosures in Oregon”

Foreclosure Mill Law Firms Starting to Meltdown

Foreclosure Mill Law Firms Starting to Meltdown

Dan Edstrom
DTC Systems, Inc.

Foreclosure mill law firm the Law Offices of David J. Stern, P.A. will be ceasing the practice of law with respect to all pending foreclosure matters in the State of Florida. In an 8-K filing dated March 7, 2011 by DJSP Enterprises, Inc., the following was given:

“Item 8.01 Other Events.

DJSP Enterprises, Inc.’s (the “Company’s”) primary customer, the Law Offices of David J. Stern, P.A., has announced that it will be ceasing the practice of law with respect to all pending foreclosure matters in the State of Florida as of March 31, 2011. As a result, the Company does not expect to receive any further file referrals from this customer.”

Continue reading “Foreclosure Mill Law Firms Starting to Meltdown”

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

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”