Tag: Discovery

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.

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You Know You Are Going To Lose When …

You Know You Are Going To Lose When …

By Daniel Edstrom
DTC Systems, Inc.

Posted by Neil F. Garfield on livinglies.wordpress.com on 3/31/2012 (http://livinglies.wordpress.com/2012/03/31/you-know-you-are-losing-when/).  Study this until you have it committed items 1 through 10 to memory.

Taking a line from Jeff Foxworthy, I have compiled the following guidelines of how to know when you are going to lose against the thieving bank seeking to steal your property. You might call it, “You know your screwed when…”

Note: The premise of this article is taken from various points made on this blog and others. The main point is that the obligation to repay the loan arose when the money transaction took place. When money exchanged hands it is presumed that the expectation was that it would be repaid. So the only defenses that exist and the only two defenses that will get the judge’s attention are PAYMENT and WAIVER. Failing to address these issues head on right at the beginning of the first pleading and the first hearing, will most likely lead to failure in the case. Read the appellate decisions that are in favor of the banks and servicers; they all start with a recitation of “facts” that are not true but which nonetheless are taken as true because the borrower failed to put them in issue as contested facts.

Start with the origination documents. If you don’t know whether they have merely reproduced the note and mortgage, then deny it and make them prove it. They could be fabricated from whole cloth. Continue reading “You Know You Are Going To Lose When …”

Title Crisis – Part II – The Documents used to Foreclose are Fraudulent

Title Crisis – Part II – The Documents used to Foreclose are Fraudulent

By Daniel Edstrom
DTC Systems, Inc.

The following was just posted on Neil Garfield’s blog, livinglies.wordpress.com.  It is reposted here with the following comments.  These are fabricated documents placed into the title record at the county recorders.  In non-judicial states these documents do not need to be recorded to foreclose as those foreclosing can instead file a judicial foreclosure and prove their claim.  Because they have no claim and cannot prove it, they knowingly, willingly and without any regard for the consequences, choose to corrupt the land title records instead.  To read about this choice, read the Hooker vs. BofA ruling from a Federal District Court judge out of Oregon: Hooker-v-BofA_and_MERS – Congratulations to Oregon Attorney James Stout for his work on this case.

From Neil Garfield and Lynn Szymoniak (see Lynn Szymoniak in action on 60 Minutes here: http://www.cbsnews.com/8301-504803_162-20049744-10391709.html)

EDITOR’S NOTE (Neil Garfield): We know the foreclosures were gross misrepresentations of fact to the Courts, to the Borrowers and to the Investors. This article shows the crossover between the MegaBanks — sharing and diluting the responsibility for these fabrications as they went along. If you are talking about one big bank you are talking about all the megabanks. Continue reading “Title Crisis – Part II – The Documents used to Foreclose are Fraudulent”

NEW GRANDMA IN CALIFORNIA DOES SLEUTHING AND DISCOVERS MAJOR ROBO NOTARY VIOLATIONS

NEW GRANDMA IN CALIFORNIA DOES SLEUTHING AND DISCOVERS MAJOR ROBO NOTARY VIOLATIONS WITH IMPLICATIONS FOR HOMEOWNER-BORROWERS, INVESTORS AND MAJOR BANKING & INVESTMENT FIRMS.  IS THERE IRS TAX EVASION ON THE PART OF BANKS & INVESTMENT FIRMS?

By Anita Carr
©carra2011

Anita Carr is used to discovering fraudulent activities, even when she is not employed.  In 2001 she discovered accounting irregularities at a Fortune 500 where she was a Director in Information Technology.  This led to investor lawsuits against that company for accounting fraud and insider trading.  At a prior employer she contacted the FBI and worked with them to ensure they investigated Medicare Fraud.  The CFO of that company went to prison.

Now, in fighting to determine title on her home, she has discovered something even more slimy and with much broader implications.  In an attempt to validate a ‘squiggle’ type mark on a recorded document with the Alameda County Recorder’s office, Ms. Carr felt it imperative that she obtain a copy of the page from the notarial journal from the California notary who performed the notarization of the ‘Corporation Deed of Assignment’ related to her property.

Ms. Carr, under California laws, is entitled to purchase a copy of the page in the notarial journal related to her property and so she wrote to the Orange County Recorder’s office and sent a check to cover the copy fees.  Orange County is where the notary was registered.  Within weeks she received a certified letter back from the Orange County recorder stating that they should have the notarial journal, but they did not have it.  See, once a notary is no longer a notary in California, it is the law that they must turn in their notarial journal to the county recorder.

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Realized Losses in Securitization

Realized Losses in Securitization

By Daniel Edstrom
DTC Systems, Inc.

It is of interest to note that no loss is calculated in securitized transactions until the loan is liquidated.  It is also of value to note that usually the principal and interest is advanced until the loan is liquidated (as I saw in a case where it was stated by Deutsche Bank National Trust Company in an answer to discovery).  So principal and interest payments are made by the servicers and/or trustees, and no loss is actually realized until after the house is foreclosed upon and sold to a 3rd party.  So what came first, the default or the loss?  No default occurs until the loan is liquidated, which doesn’t occur until after the foreclosure sale.  This means the homes are sold while the loans are current.  I would venture to say that nearly ALL foreclosures in at least the last 10 years on homes with securitized transactions, have been fraudulent and invalid.  This is because the paperwork used to foreclose is VOID.  Not voidable, but VOID.

Take a look at these definitions from the Argent Securities Inc. 2003-W6 Trust:

State Principal Balance
As to any mortgage loan or manufactured housing contract, the principal balance of the mortgage loan or manufactured housing contract as of the cut-off date, after application of all scheduled principal payments due on or before the cut-off date, whether or not received, reduced by all amounts, including advances by the master servicer, allocable to principal that are distributed to securityholders on or before the date of determination, and as further reduced to the extent that any realized loss thereon has been, or had it not been covered by a form of credit support, would have been, allocated to one or more classes of securities on or before the determination date.

Advance
As to any Mortgage Loan or REO Property, any advance made by the Master Servicer or a successor Master Servicer in respect of any Distribution Date representing the aggregate of all payments of principal and interest, net of the Servicing Fee, that were due during the related Due Period on the Mortgage Loans and that were delinquent on the related Determination Date, plus certain amounts representing assumed payments not covered by any current net income on the Mortgaged Properties acquired by foreclosure or deed in lieu of foreclosure as determined pursuant to Section 4.03.

Determination Date
With respect to each Distribution Date, the 10th day of the calendar month in which such Distribution Date occurs or, if such 10th day is not a Business Day, the Business Day immediately preceding such 10th day.

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