livinglies.wordpress.com – DTC Systems Inc

11/3/2012 – Honolulu, Hawaii – 3 Hour Workshop: New Tools & Strategies for Distressed Homeowners and Multiple Property Owners

11/3/2012 – Honolulu, Hawaii – 3 Hour Workshop: New Tools & Strategies for Distressed Homeowners and Multiple Property Owners

November 3rd, 2012 – in Honolulu, Hawaii

Law Enforcement Officials no charge (seats limited so call to reserve seating today)

Venue is tentatively the Moiliili Community Center in Honolulu, HI 2535 South King Street, Honolulu, HI 96826 http://www.moiliilicc.org

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 Garfield Continuum and Neil F. Garfield, Esq. http://livinglies.wordpress.com

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 Garfield Continuum and Neil F. Garfield, Esq.
REGISTER EARLY, LIMITED SEATING IS AVAILABLE

Workshop Information
This is a 3 hour workshop for lawyers, paralegals, homeowners and multiple property owners: Deny and Discover: New Tools & Strategies for Distressed Homeowners

Speaker:

1. 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 Neil Garfield (www.garfieldfirm.com). [email protected]

*Daniel Edstrom is not an attorney.

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 tentatively the Moiliili Community Center in Honolulu, HI http://www.moiliilicc.org

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.

Register here: http://sdr-honolulu.eventbrite.com

Workshop Agenda

9:00-9:15 Introduction

9:15–10:00 Consummation and Closing Failure Analysis

10:00–10:15 Break

10:15–11:00 Logical Fallacies and the Purpose of the Recording Statute

11:00-11:15 Break

11:15–12:00 Understanding Deny & Discover in Bankruptcy

** Schedule subject to change without notice **

Lawyers Take Note: Wells Fargo Slammed with $3.1 Million Punitive Damages on One Wrongful Foreclosure

Lawyers Take Note: Wells Fargo Slammed with $3.1 Million Punitive Damages on One Wrongful Foreclosure

By Daniel Edstrom
DTC Systems, Inc.

Posted by Neil F. Garfield on livinglies.wordpress.com (http://livinglies.wordpress.com/2012/04/12/lawyers-take-note-wells-fargo-slammed-with-3-1-million-punitive-damages-on-one-wrongful-foreclosure/).

GARFIELD PROPOSES NATIONAL LAW FIRM FOR COUNTER-ATTACK
Editor’s Comment:

The most perplexing part of this mortgage mess has been the unwillingness of the legal community to take on the Banks. Besides the intimidation factor the primary source of resistance has been the lack of confidence that any money could be made, ESPECIALLY on contingency. If you were the lawyer in the case reported below, you would be getting a check for fees alone of over $1.2 million on a single case. And as this article and hundreds of others have reported, based upon objective surveys, most of the 5 million homes lost since 2007 were wrongful foreclosures.

So the inventory for lawyers is 5 million homes plus the next 5 million everyone is expecting. Let’s due some simple arithmetic: if 4 million homes were wrongfully foreclosed and the punitive damages were $1 million per house the total take would be $4 Billion with contingency fees at $1.6 Billion. If each house carried $200,000 in compensatory damages, then the total would be increased by $800 Million with Lawyers taking home $320 Million. These figures exceed personal injury and malpractice awards. Why is the legal profession ignoring this opportunity to do something right and make a fortune at the same time?

Right now I’m a little under the weather (open heart surgery) but that hasn’t stopped my associates from rolling out a plan for a national anti-foreclosure firm. I’m only doing this because nobody else will. If you have had a home wrongfully foreclosed or suspect that your current foreclosure is wrongful, write to [email protected] (remember the “F”) and ask for help. Lawyers and victims of wrongful foreclosures should be able to pool their resources to attack the massive foreclosure attack with a massive anti-foreclosure attack.

DTC Systems readers can write to [email protected] and ask for help. We will see that your request is sent to the lawyers working on this new program.

Here is the Conclusion from the Order (download below):

Wells Fargo’s actions were not only highly reprehensible, but its subsequent reaction on their exposure has been less than satisfactory. There is a strong societal interest in preventing such future conduct through a punitive award. The total monetary judgment to date is $24,441.65, plus legal interest,$166,873.00 in legal fees and $3,951.96 in costs. Other fees and costs incurred by Jones through the first remand were also incurred and are not included in the foregoing amounts. Because the Court cannot reveal the sealed amount stipulated to by the parties when they settled Jones’ Application for Award of Fees and Costs Related to Remand (“Application”),70 the Court will use Jones’ Application itself as evidence of fees and costs actually incurred up to the date of the Application. The Application and supporting documentation establish that an additional $118,251.93 in attorneys’ fees and $3,596.95 in costs was also incurred by Jones.71 The amounts previously awarded plus the additional amounts incurred establish that the cost to litigate the compensatory portion of this award was $292,673.84. After considering the compensatory damages of $24,441.65 awarded in this case, along with the litigation costs of $292,673.84; awards against Wells Fargo in other cases for the same behavior which did not deter its conduct; and the previous judgments in this case none of which deterred its actions; the Court finds that a punitive damage award of $3,171,154.00 is warranted to deter Wells Fargo from similar conduct in the future. This Court hopes that the relief granted will finally motivate Wells Fargo to rectify its practices and comply with the terms of court orders, plans and the automatic stay.

Download the bankruptcy ruling here: http://dtc-systems.net/wp-content/uploads/2012/04/Jones_vs_Wells_Fargo.pdf

INVESTORS COMING OUT OF THE SHADOWS: BANKS’ WORST NIGHTMARE

INVESTORS COMING OUT OF THE SHADOWS: BANKS’ WORST NIGHTMARE

By Neil F. Garfield
LivingLies.wordpress.com

http://livinglies.wordpress.com/2012/01/06/mbs-investors-in-revolt-ultimatums-to-us-bank-and-wells-fargo/

EDITOR’S ANALYSIS: For those who have followed this Blog for any length of time, this news will come as no surprise. Ultimately, the proof and the relief sought by homeowners will come from investors who demand answers to what happened to their money when they purchased mortgage backed securities and pooled their money to fund mortgages.

The result is a pincer action, to put it military terms, where the creditors and the debtors are making the same allegations against the intermediaries who stole from both sides, “borrowed” the loss to claim Federal bailout money, and left both sides holding the bag. Continue reading “INVESTORS COMING OUT OF THE SHADOWS: BANKS’ WORST NIGHTMARE”

The OCC Misses the Point on Toxic Waste

The OCC Misses the Point on Toxic Waste

By Daniel Edstrom
DTC Systems, Inc.
http://www.dtc-systems.net

We all see what we want to see. But when others control the conversation, it is easy to miss the point. As a regulator the Office of the Comptroller of the Currency should be taking the lead and controlling the conversation, but in reality, they have been bridled and are being led around by the nose. Conspiciously absent are numerous issues they as a regulator have the responsibility of dealing with. This article is timely in response to an article by Neil F. Garfield (http://livinglies.wordpress.com/2011/12/27/the-big-lie-banks-did-nothing-illegal/), which is a response to Yves Smith of Naked Capitalism article (http://www.nakedcapitalism.com/2011/12/more-msm-criticism-of-obama-nothing-illegal-here-move-along-stance-on-foreclosure-fraud.html), which is a response to a Reuters article (http://www.reuters.com/article/2011/12/22/us-foreclosures-idUSTRE7BL0MC20111222). But I found none of these articles until I was finished writing this post. Take the following random and critical issues:

Are the loans in the pool? Were the loans ever in the pool? Does the pool exist? Did the pool perfect interest in any of the loans? This issue is very political and the OCC in our opinion will never address this issue or look into this.
What loans are in default? Can a loan be in default? What comes first, the default or the loss?
Are there any compliance issues?

Continue reading “The OCC Misses the Point on Toxic Waste”

World Savings Bank: Wells Fargo Admits Loans Were Securitized

World Savings Bank: Wells Fargo Admits Loans Were Securitized
By Daniel Edstrom
DTC Systems, Inc.
http://www.dtc-systems.net
http://livinglies.wordpress.com

In a huge disclosure, Wells Fargo Bank has admitted that World Savings loans were securitized. This is a big move for homeowners strapped with Option ARM negative amortization loans. In recent months we have seen numerous endorsements on World Savings promissory notes showing that the notes were in fact endorsed to The Bank of New York. This is not an isolated incident as we now have 3 confirmed cases where World Savings notes were endorsed to The Bank of New York. Foreclosure defense lawyers have been seeking to know what this information means for their clients. These details are revealed in the LivingLies / Luminaq / AHC combo and in the DTC Systems Securitization Reverse Engineering and Failure Analysis for Lawyers (disclosure: DTC Systems provides their unique and premier Securitization Reverse Engineering and Failure Analysis and also provides services to Attorney Neil F. Garfield’s Securitization Report and Securitization Commentary, which is included in the LivingLies Combo).

Here is the original World Savings post: https://dtc-systems.com/world-savings-bank-loans-were-securitizated/

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”

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”

World Savings Bank, A Living Legacy of the Subprime Crisis

World Savings Bank, A Living Legacy of the Subprime Crisis

By Daniel Edstrom
DTC Systems, Inc.
http://www.dtc-systems.net
http://livinglies.wordpress.com

World Savings Bank loans were the worst of the worst loans that were packaged up and sold to homeowners from the 1990’s until 2008. These loans consisted of pick a pay loans with negative amortization. Typical predatory negative amortization loans allow for the original loan balance to increase to 110% maximum. Meaning if the loan was originally issued at $100,000.00, the loan balance can keep going negative until it reaches $110,000.00. World Savings Bank decided that this wasn’t enough and allowed their negative amortization loans to reach 125% of the original principal balance. This is the gift that keeps on giving. As home values have been decimated by the meltdown and continue to drop, properties with World Savings Bank loans have principal balances that keep going up and up and up. No underwriting was given on these loans, the value of the properties and the promise and belief they would ever rise was the only consideration given to support the loan. The other consideration used in “lending” the money had nothing to do with the homeowners. World Savings Bank wanted to entice investors into parting with their money. Lots of money. In fact BILLIONS and BILLIONS of dollars. It turns out that World Savings Bank had NO STAKE in the transaction, they were only the middleman. One big fat rich middleman. This was at the expense of both borrowers and investors who purchased certificates from the many REMICs setup by World Savings Bank. What REMICs? What securitizations? Didn’t Wells Fargo tell you that these loans were securitized? Why does the Office of the Comptroller of the Currency (the OCC) allow Wells Fargo Bank to foreclose in their own name on the tens of thousands of World Savings Bank foreclosures? The OCC knows much more than the American people what World Savings Bank, Wachovia and Wells Fargo Bank are doing to the American homeowners. Namely that Wells Fargo Bank is walking into court claiming to be the real party in interest, claiming that they own these loans and that they were never securitized. Of course this is nothing new for Wells Fargo Bank or Wachovia. Just look at the auto loans securitized by Wachovia Dealer Services. Wachovia Dealer Services did not loan the money as these were table funded automobile loans. The money used to fund the automobile loans came from various trusts that pooled the loans and sold them to investors. The trusts and/or the investors allegedly own the loans and not Wachovia Dealer Services or Wells Fargo Bank. But you would never know this by going to just about any state court in this country and looking at who the plaintiff is thats filing a judicial lawsuit on these automobile loans: Wachovia Dealer Services. Reading the Prospectus for these deals is a real eye opener: Title will remain in the name of Wachovia Dealer Services and even though the loans are sold, the abstract of title given to the DMV will not be updated to reflect the correct ownership. They go on to admit that title has not been perfected and that the certificateholders are at risk. It even goes on to say that the loan contracts will not be updated to reflect that ownership has changed (endorsement under state UCC laws). So you have no endorsement and no transfer (no perfection). The beneficial and equitable rights have been sold. The above all describes predatory banking, lending and servicing at its worst.

Continue reading “World Savings Bank, A Living Legacy of the Subprime Crisis”