Tag: Fed

Control Fraud


Control Fraud

By: Jim Macklin
Secure Document Research

The term “control Fraud” was originally coined by Professor William Black, UMKC. A control fraud essentially starts as a core methodology for the exaction of some enterprise or movement, whether in commerce or at law. The instigators of a control fraud typically have their own self-interests as the motivation for participants to either ignore regulations or laws, or worse yet, to politically pressure or lobby for policy change that suits their agenda(s).

It mattered not that “liar loans”, defective underwriting processes, and securitization obviations were the norm during the run-up to 2008. The control fraud was in place to facilitate complete immunity from prosecution for the big money players at the top of Wall St. Every associated business that derived its income from the mortgage-backed bond sales was expected to follow the guidelines, as set by the fraudsters, or suffer the fate of not working. Everyone from bond insurers, hedge fund managers, realtors and property appraisers had to bend to the poisonous curve…or lose their competitive edge, and thus, their livelihood. When lying becomes the standard upon which your paycheck relies, you are a liar by proxy.

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OUT OF HOUSE & HOME


OUT OF HOUSE & HOME

By Jim Macklin
Secure Document Research

Well, it has become official, Wall St. is now actively orchestrating the coup d’état. Major firms like Blackrock are setting up shop throughout major metropolitan areas of the U.S. with boots on the ground in an attempt to own and rent/lease properties back to the very souls from whom they stole in the last several years.

Pouring cash assets into the Net Lease Real Estate Investment Trusts seems like a sound business idea, except for one thing…the concept of owning real estate at this time for long term investment purposes does not align with the 20 year long term run-up of property values.

Remember this fact, the investment firms that are playing God with other people’s money don’t really care about the ROI for their investors, all they care about is selling positions or shares or certificates to the investment de jour. So if you invest $100 million in REIT’s but the long term projections for increased valuations of your portfolio have already reached the anticipated high, you are literally putting your money into a pool that pays you back for the use of the money, minus the fees in and out. Not to mention the fact that there is no possible way to project what a given administration’s policies will be in even 5 years. Tax treatments can, and often do, change.

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Why Did the Banks Need to Falsify and Forge Fabricated Documents?

Why Did the Banks Need to Falsify and Forge Fabricated Documents?

Posted [on LivingLies] on January 5, 2012 by Neil Garfield

The investors who purchased David Stern’s foreclosure mill have taken the extraordinary step of announcing publicly that they had been duped into buying a “criminal enterprise.” Obviously they didn’t want to get caught up in the dragnet of prosecutors looking for convictions. Nobody would spend $60 million like these investors did and then announce to the world that not only was it worthless, it was worse than worthless. It turns out that once they owned it they discovered that the entire enterprise was based upon criminal and other illegal or improper acts. It will soon be obvious that virtually all the foreclosure mills operated identically to Stern because they were owned and operated by the same people.

Those criminal acts were all about pushing foreclosures through the system. The end result of foreclosure is that somebody gets the house upon entry of a “credit bid” which is to say that they don’t pay cash, they just submit a “bid” based upon the fact that the property was the collateral for money that was due them. Since Stern was not taking the homes, and it is obvious that others were taking the homes, the question is why did they need to go through all those gyrations and subject themselves to prison time if the mortgages were legitimate? Continue reading “Why Did the Banks Need to Falsify and Forge Fabricated Documents?”

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