Perils of Pooling

Perils of Pooling

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/2013/07/30/perils-of-pooling/

Perils of Pooling

Posted on July 30, 2013 by Neil Garfield

We hold these truths to be self evident: that Chase never acquired any loans from Washington Mutual and that Bank of America never acquired any loans from Countrywide. A review of the merger documents approved by the FDIC reveals that neither Chase nor Bank of America wanted to assume any liabilities in connection with the lending operations of Washington Mutual or Countrywide, respectively. The loans were expressly left out of the agreement which is available for everyone to see on the FDIC website in the reading room.

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Will the Niday & Brandrup Rulings Change How Foreclosures Are Conducted In Oregon? Not Likely!

Will the Niday & Brandrup Rulings Change How Foreclosures Are Conducted In Oregon? Not Likely!

By Daniel Edstrom
DTC Systems, Inc.

This blog post was posted to the Querin Law LLC website (www.q-law.com). Click the link below to read the post.

Will The Niday & Brandrup Rulings Change How Foreclosures Are Conducted In Oregon? Not Likely!

Posted on June 23, 2013 by Phil Querin

Posted in Foreclosure, Litigation, Miscellany, News You Can Use, Real Estate/Distressed, Realtor Risk Management, Residential Housing | Tagged Banks, Foreclosure, MERS, Real Estate

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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SEC Corroborates Livinglies Position on Third Party Payment While Texas BKR Judge Disallows Assignments After Cut-Off Date

SEC Corroborates Livinglies Position on Third Party Payment While Texas BKR Judge Disallows Assignments After Cut-Off Date

By Neil Garfield
Garfield Gwaltney Kelley and White | LivingLies

Maybe this should have been divided into three articles:

Saldivar: Texas BKR Judge finds Assignment Void not voidable. It never happened.
Erobobo: NY Judge rules ownership of note is burden of the banks. Not standing but rather capacity to sue without injury.
SEC Orders Credit Suisse to disgorge illegal profits back to investors. Principal balances of borrowers may be reduced. Defaults might not exist because notices contain demands that include money held by banks that should have been paid to investors.

But these decisions are so interrelated and their effect so far-reaching that it seems to me that if you read only one of them you might head off in the wrong direction. Pay careful attention to the Court’s admonition in Erobobo that these defenses can be waived unless timely raised. Use the logic of these decisions and you will find more and more judges listening with increasing care. The turning point is arriving and foreclosures — past, present and future — might finally get the review and remedies that are required in a nation of laws.

Continue reading “SEC Corroborates Livinglies Position on Third Party Payment While Texas BKR Judge Disallows Assignments After Cut-Off Date”

Full Day CLE Workshop Seminar: New Tools & Strategies for Distressed Homeowners

Full Day CLE Workshop Seminar: New Tools & Strategies for Distressed Homeowners

By Daniel Edstrom
DTC Systems, Inc.

8/25/2012 – Emeryville, CA – Full Day CLE Workshop Seminar: New Tools & Strategies for Distressed Homeowners

August 25th, 2012 – in San Francisco, California

Venue is the Hyatt House in Emeryville, CA http://emeryville.house.hyatt.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.

SECURE DOCUMENT RESEARCH<br>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 Garfield Continuum and Neil F. Garfield, Esq. http://livinglies.wordpress.com

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

If you have any problems paying for this event, you can also pay 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 Garfield Continuum and Neil F. Garfield, Esq.
REGISTER EARLY, LIMITED SEATING IS AVAILABLE

Workshop Information
This is a comprehensive 1-day workshop CLE seminar for lawyers and paralegals: Deny and Discover: New Tools & Strategies for Distressed Homeowners

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.

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. Neil Garfield

Neil F. Garfield, M.B.A., J.D., 61, is the winner of dozens of academic awards, a popular speaker, and author of technical treatises on law and economics. He has come out of retirement with a bang and financial institutions should take note. He knows them from the inside-out, who the deciders are, and how they arrived at a catastrophic scheme to defraud people, agencies, institutions and governments all over the world. For more information on Neil Garfield visit his website at www.livinglies.wordpress.com

4. Daniel Hanecak

Daniel Hanecak, B.A. J.D., will be speaking on motion practice and recent court experience. Mr. Hanecak is licensed in California and specializes in complex real property litigation. Mr. Hanecak is currently representing homeowners against banks and mortgage servicers for fraud and wrongful foreclosure.

*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 Hyatt House in Emeryville, CA

http://emeryville.house.hyatt.com

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:
$497.00 for the one day workshop.

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.

Workshop Agenda

8:30–9:15 Introduction: James Macklin / Daniel Edstrom

9:15–10:00 The Securitization Process and Chain of Title: James Macklin

10:00–10:15 Morning Break

10:15–11:00 Prospectus, Pooling/Servicing and Trust Agreements: James Macklin

11:00–11:45 Discovery / Procedure: Neil F. Garfield, J.D., M.B.A.

11:45 to 1:00 Lunch

1:00–1:45 Proprietary Currency, Appraisals and Ratings: Neil F. Garfield, J.D., M.B.A.

1:45–2:30 Law and Motion Practice / Recent Courtroom Experience: Daniel Hanecak, Esq.

2:30–2:45 Afternoon Break

2:45–3:30 Credit Enhancements in Action: Daniel Edstrom

3:30–4:15 Panel Q&A

** Schedule subject to change without notice **

Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted

Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted

By Martin Andelman
Mandelman Matters

Reposted from http://mandelman.ml-implode.com/2012/02/wells-fargo-bank-and-patricia-martin-part-2-a-bank-that-cannot-be-trusted/

Okay, so here’s a quick recap, in case you’re coming in late, followed by an update that demonstrates very clearly why I say that Wells Fargo Bank and the law firm, Anglin, Flewelling, Rasmussen, Campbell & Trytten LLP… cannot be trusted.

First the Short Recap…

Patricia Martin, age 65, having lived in her home for 44 years, had major back surgery, so she had to send her daughter into the bank to make two payments. There were late fees of about $80 a month, but the person at Wells Fargo said they could be paid later, and accepted the check for the two payments.

The following month, October, Patricia’s home heating system required major repairs, so the next time she was able to make her mortgage payment was the following month, November. But, when she tried to make the payment, the bank said that she hadn’t made the September payment, and in fact, she was in default, and had to come up with $4829.96 by November 30th, or the bank would foreclose. Continue reading “Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted”

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?”

Oregon Does it to MERS Again

Oregon Does it to MERS Again

By Daniel Edstrom
DTC Systems, Inc.

Once again MERS is hammered, this time in Federal District Court by the Honorable Owen M. Panner. This judge understands clearly what is going on and has some serious questions. Read this case to understand securitization and foreclosures. Here are some highlights (there are many others):

Should the beneficiary choose to initiate non-judicial foreclosure proceedings, the Act’s recording requirements mandate the recording of any assignments of the beneficial interest in the trust deed.

Nobody held a gun to the head of the servicers and required them to use non-judicial foreclosure. They have the right to choose which action they wish to use – non-judicial or judicial. The problem in this case (and almost all other cases), is that the servicers are making the wrong choices. Why? Money, what else?. It is not their concern that they don’t qualify to use non-judicial foreclosures. It is not their concern that they have to strictly comply with statutes. In 90% or more of all cases the homeowners are walking away so nobody will know anyway right? Oops, now the titles have to be cleaned up because of the mess left behind by the servicers, which have all but destroyed the title records for foreclosed properties. This means that in the future, somebody else will have to file a judicial lawsuit to clean up the title for a property because the servicer made the wrong choice and failed to strictly comply with non-judicial statutes. By the way this problem is understated and far worse than anyone actually imagines or understands at this point.

Continue reading “Oregon Does it to MERS Again”

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

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”