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The Georgicks of Virgil, with an English Translation and Notes Virgil, John Martyn Ipsi in defossis specubus secura sub alta Otia agunt terra, congestaque robora, Pierius says it is confecto in the Roman manuscript. And Tacitus also says the Germans used to make caves to defend them from the severity of winter, .

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Bank as a matter of law. I have described, in painstaking detail, the crimes committed by banks that led to the financial crisis, spurring one of the largest destructions of wealth in American history. I have shown that the mortgage market of to was constructed on a mountain of fraud , and that we must do everything we can to both punish the wrongdoers and ensure that such a disaster never happens again.

Your recent actions, seen by many observers as reflective of a bold and aggressive new stance, amount to little more than a public relations vehicle. The actual victims of the fraudulent conduct being settled will see no relief. Homeowners will get hurt rather than helped. The perpetrators will not be forced to expose their crimes to the world. Just about the only thing these actions accomplish is a reduction in the national debt, which you can more responsibly achieve by taxing bank executives rather than subjecting their shareholders to penalties.

Call me old-fashioned, but I figure that when you commit a crime against a set of individuals, at least some of the penalty should go toward restitution for those individuals. Key witness knows nothing. The witness admitted Ocwen had no involvement in the mortgage loan whatsoever for the first nine 9 years of the loan since She testified she had no knowledge of the prior servicer's business records as she had never worked for them.

Anti-Foreclosure Protesters Block Sheriff's Eviction of Disabled Veteran in West Seattle Stranger Ultimately, Gates acknowledges, the sheriffs gave up trying to get the protesters out of the way of the ambulance and put Barton back on the street outside the home. Went unnoticed until Fannie Mae pulls plug. Get vendors to submit grossly inflated invoices for work, such as posting foreclosure notices. No homeowner could legally challenge these fees in the state of Colorado and so must pay whatever costs incurred, no matter how dire.

The state of Colorado is devoid of administrative or judicial oversight into the practice of foreclosures. Glaser was working for the industry at the same time. ProPublica The friend was Howard Glaser and he had another job at the same time: consultant and lobbyist for the very industry Cuomo was investigating. Cuomo's office ended up giving immunity to one of Glaser's clients a year into his term as attorney general.

In the end, experts say, the mortgage investigations Cuomo touted as "wide-ranging" came to little, even as he held one of the country's most powerful prosecutorial positions through the financial crisis and its aftermath. Lawyer Indicted for Lying to a Cobb County Judge An Atlanta lawyer has been indicted for making false statements and presenting forged documents to a Cobb County judge.

A Cobb County grand jury has indicted attorney James Alan Langlais on three counts of false statements, two counts of false writings, two counts of forgery and one count of theft by deception.

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The theft charge is for taking money from clients for legal services he allegedly didn't perform. Daily Report The indictment paint a picture of a lawyer who allegedly missed a deadline for filing a response to a motion for summary judgment in a lawsuit but told the judge he had filed it and even had a stamped copy and receipts from the courier who delivered it. Then, the indictment alleges, he went back to court later and presented the document with a forged stamp from the clerk's office as well as a fake invoice from a courier.

The indictment also alleges he stole from his clients, Greg and Kimberley Euston, by taking their money for legal services he falsely claimed to have performed for them in their lawsuit, Euston v. One estimate put the possible loss to Utah homeowners from the dismissal at tens of millions of dollars. Daily Report Saying that a Marietta law firm "operates less like a law firm than a factory," the fledgling federal Consumer Financial Protection Bureau is suing to permanently bar the firm and three of its attorneys from engaging in a massive debt-collection business that the agency claims regularly runs afoul of federal consumer financial laws.

The Hanna firm uses "high-volume litigation tactics" to collect millions of dollars each year, often from consumers " who may not actually owe debts or may not owe debts in the amounts claimed," bureau attorneys charged in the suit.

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For years, homeowners have been battling Wall Street in an attempt to recover some portion of their massive losses from the housing Ponzi scheme. But progress has been slow, as they have been outgunned and out-spent by the banking titans. Ellen Brown, JD In June, however, the banks may have met their match, as some equally powerful titans strode onto the stage.

Why the investors are only now suing is complicated, but it involves a recent court decision on the statute of limitations. Bank of America This is the multi-year case where the bank's lawyer physically assaulted the homeowner during a deposition. Law The appeals court said in a split decision that a lower court in California wrongly dismissed homeowners David and Salma Merritt's complaint at the pleading stage before considering a range of evidence over whether to condition rescission on tender.

Bloomberg American International Group Inc. AIG , the largest commercial insurer in the U. JPMorgan case Chase Slammed By CA Appellate Panel: Bank committed fraud in order to show ownership Living Lies We are entering the 6th inning of the game started by Wall Street when it created the smoke and mirrors game based upon false claims of successors and securitization. As lawyers actually do the work investigating and researching, they are getting results that come closer and closer to the reality that the whole thing was a sham. Fink's firm echoes industry talking points.

Mary Jo White, the chairwoman of the Securities and Exchange Commission, BlackRock's main regulator, has been on a genuflecting tour to reassure asset managers that they have a sympathetic ear in the nation's capital. Linick, the inspector general of the Federal Housing Finance Agency , said housing complaints deserve timely action. But Linick did nothing, and we have proof he is part of the cover-up!

Gretchen Morgenson NY Times The federal agency overseeing Fannie Mae and Freddie Mac , the taxpayer-owned mortgage finance giants, failed to refer to criminal investigators and other authorities almost complaints about possible foreclosure abuse and mortgage fraud at the companies over a recent two-year period, according to a report issued late Tuesday by the inspector general of the Federal Housing Finance Agency. It appears the law firms manipulated and influenced the foreclosure process — in practice and at the state Capitol — in a way that guaranteed themselves a way to profit. It's unclear how far the reverberations from the Colorado cases will be felt, but several of the illegal practices alleged in the lawsuits are widespread across the foreclosure industry nationwide.

I recently had a case in which the issue of standing, ownership and modification of the loan were all at issue. The ruling gives new life to a federal suit filed by the Federal Deposit Insurance Corp. Pro se. When this began. I believe she began to sympathize a little bit when I told her that my own daughter moved out due to the constant harassment and one physical assault. Full post Justice Department official says expects more mortgage case activity soon Chicago Tribune U.

Associate Attorney General Tony West said on Monday that the American public can expect to hear more from the Justice Department's residential mortgage-backed securities working group in the "very near future. District Judge Amy Totenberg on July 9 determined that the housing authority waived its right to remove the case to federal court because it had taken actions in the superior court that showed intent to litigate on the merits of the case.

Over the housing authorities claims to the contrary, Totenberg determined that the housing authority's quest to remove the case was an attempt to evade an adverse judgment from the state level court. How many times are we going to hear stories like this before someone is hauled off to jail? They even went through her underwear drawer. She said they told her it was a mistake, that there was no active foreclosure case.

By the end of the night, after many phone calls, Novelli said she believed the problem may be on its way to being resolved. According to her and the complaint, Altisource and Jackson Township police showed up the next morning, pounding on her window. She had to get out, they told her. Altisource was back to finish emptying the house. Without a doubt, the federal government program know as HAMP is the most valuable, yet most overlooked, weapon homeowners fighting for mortgage relief have in their arsenals as they battle to save their homes from foreclosure.

The reason for this is simple: loan servicers are paid a percentage of the mortgage loan balance; the higher the balance, the higher their compensation. McGookey Law This being the case, there is more money in falsely denying a homeowner HAMP loan relief than there is in granting it for the servicer. And this is exactly why over half of our clients are what we call false HAMP denial victims. Making this sort of fraud so pervasive is the fact that the servicer is in almost total control of the loan modification process.

The government, to its great shame, has opted out of regulating these crooked loan servicers altogether, leaving the poor homeowner as easy game for false HAMP denial victimization, in most cases not even realizing that he or she has been hoodwinked. No MERS -Y for Maine Lenders The Maine Supreme Judicial Court seems to be on a roll against the mortgage industry, having recently issued an opinion that effectively wiped out a mortgage because of the lenders bad faith negotiations during a foreclosure proceeding.

Greenleaf et al. The Greenleaf court held that the bank did not have standing to seek foreclosure even though it was the holder of the mortgage note. The court stated that The interest in the note is only part of the standing analysis, however; to be able to foreclose, a plaintiff must also show the requisite interest in the mortgage. National People's Action The industry depends on cheating and deception. They will fight hard against the CFPB and try to evade any new rules.

And the CFPB is already under attack by legislators who balk at any and all regulations. Join us and tell the CFPB to stand up to the loan sharks and bottom feeders. Dow Family v.

The principal point is that public records are intended to provide certainty in the marketplace. MERS does the opposite. If you see MERS in the title chain, it means automatically that the loan is subject to claims of securitization. And we now know that most such claims are false. Hence satisfactions of mortgage, the filings of lis pendens, notices of sale, notices of default, substitutions of trustees, and all those robo-signed, forged, fabricated assignments, allonges etc.

Use the links to see the newest developments in this ongoing case. Stafne Trumbull When the plaintiff first requested the allonge, it was not given. When Stafne Trumbull asked for it, it was not given. Three-ring indexing marks and copy watermarks between the Note, the allonge and other documents are clearly dissimilar.

It has never been clear if the documents were ever together until the filing of motion for summary judgment. The law was never intended to create a business opportunity. Texas Observer These high-interest loans are part of a multibillion-dollar industry native only to Texas and Nevada. Backed by San Antonio billionaire Red McCombs, Propel claims in its financial disclosures to have never lost money on a loan. And while demand is apparently high, their usefulness may be limited, especially after a recent change in the law that requires counties to offer payment plans to homeowners with delinquent taxes.

When young workers die, it can shorten by decades the amount of premiums the corporation has to pay out before collecting the death benefit. Both the death benefit and the build up in the cash value of the policies are reported as tax free income to JPMorgan to fatten its profits. Holder Jr. Holder said. The consumer relief will involve financing for the construction and preservation of affordable multifamily rental housing , principal reduction and forbearance for residential mortgages and other direct consumer benefits from various relief programs, the bank said.

Weidner Law The banks and the servicers employ one another and invest with one another to buy back these homes cash for pennies on the dollar that is and has been what they have been doing now for the past few years. Its just the way America is now folks, So do good and use those ethics for the good and recognize this and help families and stand up to the crooks.

It will make you a better person to help not hurt. Staphne Trumbull 1. Short Answer: YES. Which of course leads to the only conclusion…. Weidner Law We discovered after trial several very disturbing things. Not only was the document they identified as not an original…. Just so this point is clear…. Join the Protest Against Home Theft The advantage of shredding the paperwork and moving to an electronic registry system is that you can copy and paste the data as many times as you want.

The bankers would destroy the written records of who owned what and who owed what to whom. They could sell, and resell your home out from under you. Why would homeowners exhibit so much skepticism in a government program that they feel inclined to turn down thousands of dollars in free money? You can track it back to all the promises made over the past five years to help homeowners, and the unfortunately sorry results.

BOA failed to introduce admissible evidence to refute Ms. Nothing about a default or hardship. Citizens must trust the courts to fairly apply the law to the facts before them in deciding cases. This expectation cannot be met when the system is rigged to prevent borrowers access to discovery. Alita Knott worked as an agent for Coldwell Banker. LVNV Funding Weidner Law Consumer debt buyers—armed with hundreds of delinquent accounts purchased from creditors—are filing proofs of claim on debts deemed unenforceable under state statutes of limitations.

We answer this question affirmatively. Mortgage Salesman. Living Lies I have been receiving increasingly urgent and frustrated messages from lawyers in nonjudicial cases. PHH Mortgage, US Bank Concurring Opinion : The majority opinion ignores the characteristics of the modern real estate mortgage to find a simple solution to the instant case -- a solution that creates its own set of problems.

Supreme Court of Wisconsin Modern mortgage transactions differ from traditional mortgage transactions. The lender-mortgagee keeps the note and records the mortgage. The lender-mortgagee may transfer both the note and mortgage but generally keeps them together, and the assignment of the mortgage is ordinarily recorded. The borrower executes a note to the lender. The borrower executes the mortgage, however, to MERS. MERS is the holder of the mortgage but not of the promissory note.

The mortgage is recorded, with MERS as the mortgagee. Under the traditional view of equitable assignment, naming MERS as the mortgagee separates the mortgage from the promissory note and may cause the note to become unsecured. Fair Housing Act. He referred to his reasoning in the Bank of America case, where he said Miami lacked standing to sue.

The CFPB has made it easier for poor Latino migrants to send money back home and qualify for credit cards and even mortgages here in the U. Scant Interest in F. Program The F. And only about 4, F. Johnson New Mexico Court of Appeals At trial, twenty months after the complaint for foreclosure was filed, the Bank produced a note that was significantly different from the one attached to its complaint.

The Bank argued that its production of the note bearing an undated indorsement in blank at trial was sufficient to establish its right to enforce the note. Court disagreed. The talks are being driven by an investigation into the bank's Merrill Lynch unit but also include the bank itself and its Countrywide unit. I hope to see this case get resolved quickly so the parties involved are able to move forward.

I appreciate Fannie Mae's willingness to cooperate. Foreclosure fraud what fraud? In a recent Oklahoma case, the servicer for an unnamed party in interest did not have the original note. In its attempt to prove standing, the servicer eventually submitted three markedly different versions of the missing original. So the servicer went from having no note — to having three notes on the same property; all done unlawfully with a computer and a printer.

Baxter, Jr. There was just one huge problem. Under the contracts of the rental-backed securities, if performance falls below a certain level, the entire portfolio goes into default, which may lead to evictions for thousands of renters. They are meeting on July 11behind closed doors. Joe Sucher Huff Post The devil is in the details and when it comes to evicting homeowners arguments abound about who has "standing" to foreclose, broken chains of title, improper assignments, "holder in due course"; all the verbiage and phraseology that surfaced in the wake of the revelations surrounding so-called robo-signing improprieties.

In the past few years courts around the country -- federal and state -- have offered widely varying decisions on what this all means for struggling homeowners. For Geoff Walsh this is a bad omen for a one-size-fits-all foreclosure law so why put in the time and effort. Vermont Superior Court Assuming Plaintiff can prove mutual mistake, it is entitled to reopen the foreclosure. Plaintiff will have the burden of proving mutual mistake once Plaintiff amends its complaint.

For hundreds of years states have owned and recorded their own lands — and now it appears the United States federal government would like that to change. And THAT means most foreclosures would end or never be started. Greenleaf was a mess, leading the court to sanction the attorney. Thus, this decision starts to raise a serious question as to whether MERS continues to be a viable operation in Maine. Maine is the first state supreme court with such a decision. If other states go this way, MERS is in trouble.

Living Lies The whole point of the public records system is to provide confidence in the system of title and giving buyers or lenders the comfort of knowing that they had what they thought they were getting. The whole purpose of MERS and similar schemes was to avoid the public records system — until it comes time to use them to foreclose on previously unrecorded transactions involving the mortgage.

Judges around the country have expressed fear that our entire title system has been compromised. Law Rufini contacted Citimortgage and was assigned to a loan modification representative who did not return his calls for 3 weeks. When he finally reached the representative, he was told the foreclosure sale would not take place for another few weeks and the representative asked for additional information about this income.

In the meantime, Citimortgage transferred the loan to PennyMac who foreclosed on the home without further notice to Rufini. Their legal position may have fundamentally changed. National Mortgage News Last week, the U. Supreme Court determined that the Obama administration's recess appointments of three National Labor Relations Board judges were invalid and unconstitutional.

As a result, all of the decisions of the NLRB in which any of these judges participated are void. Including all published and unpublished decisions, some 1, rulings are effectively invalid. Two assignments were also filed, but these were prepared by DocX and showed that the mortgage was not assigned to the trust until April, — after the foreclosure was filed and after the trust closing date.

This delayed the foreclosure which took over 5 years to complete. Final judgment entered for U. Note that this case did not decide the validity of mortgages in the MERS system, but you can be sure that borrower attorneys are planning to file a boatload of cases on the back of this decision. This case is certain to be appealed. THEN alleging the statute of limitations is a good idea as corroboration for your logic that the mortgage is invalid because it is unenforceable and without merit in all instances. There are two such attacks that are promising:.

Was Citigroup closed by regulators? Did anyone go to jail at Citigroup as was the case at the Bank of United States? None of those things occurred. Instead, after losing 60 percent of its market value in one week, the U. Bank of America v. We vacate the foreclosure judgment on this basis. The interest in the note is only part of the standing analysis, however; to be able to foreclose, a plaintiff must also show the requisite interest in the mortgage.

Judgment of foreclosure vacated. Order of sanctions for failure to comply with M. Will any homeowner's be made whole? Courthouse News The Justice Department noted that borrowers eligible for such restitution must fall into one of eight predetermined categories of harm.

Each homeowner should be notified so they can apply for restitution that the DOJ is imposing. Instead of being shut down and put in prison, SunTrust is allowed to expand. SunTrust allegedly robo-signed mortgage documents and illegally foreclosed on some customers. Then there is this Federal judge finds mortgage registry company violated Pa. If they have paid their mortgage or have attempted to pay their mortgage they should not be foreclosed on.

Becker said the recorder of deeds office has been able to work on the lawsuit without spending any taxpayer money. The accountants, attorneys, consultants and researchers involved in the case are working on a contingency, she said. More comments on: Kalicki v. Weidner Law The press services are blowing up today with reports of the Chase Foreclosure case that was dismissed with a finding of fraudulent documents.

The case is great for consumers, but the larger question is just why there are not more reported cases out there? The reason of course is that courts are reluctant to call the kind of widespread document fabrication what it really is….. Or an institution that sold billions of dollars worth of bonds full of toxic loans couldn't sell securities for six months. And dozens of employees, including senior managers, involved in either case were fired. The state regulator banned the bank from converting foreign currency into U.

The answer is simpler than you might think. This they accomplished by pushing new Rube Goldberg loan products. In New York City, as many as 60, homes and literally billions of dollars are therefore sunk, lost. I have been predicting since as far back as that the Trustees who ignored or stood in the way of investor efforts to mitigate their losses would eventually face a day of reckoning. Put plainly, which allegation is Plaintiff traveling under? It shows that these players are unafraid of engaging in out-and-out skimming as long as they dress it up in a way that is hard to ferret out.

NY Times By the time the Securities and Exchange Commission finalized a rule last month to regulate derivatives under the Dodd-Frank financial reform law, the big banks that dominate the multitrillion-dollar market had already figured out how to game it. This is not a tale, however, of how wily banks always find a way around the rules. In this case, the S. To learn more about the original draft proposal, click here. MortgageOrb "Effectively what we're doing is we're providing a government guarantee - but we're doing it through a new agency," Delaney emphasized.

The complex part of it is creating the mechanism for the government to offload a piece of its exposure onto the private market. What we're looking at there is effectively the reinsurance model - which is effectively what the government is doing today: providing insurance against defaults. Florida's Fair Foreclosure Act, which took effect July 1, , gave lenders one year from the date of foreclosure to sue homeowners for deficiencies or balances owed on mortgages.

GAVIT Thus a question of jurisdiction of the subject matter can be raised at any time during the proceedings and even for the first time on appeal. It can be raised in collateral proceedings, which means, in other words, that the judgment or decree, being a nullity, is not res judicata as to a subsequent legal action. JPMorgan Chase The judgment stated that the Kalickis owned the property and quieted title in their favor. It also found that Chase had executed and recorded false documentation purporting to transfer ownership of the Kalickis' mortgage to Chase and that a Chase executive created a document in which Chase fraudulently represented that a prior assignment had been lost and that Chase owned the Kalickis' mortgage.

The judgment voided the fraudulent documents and enjoined Chase from recording any false or misleading documents representing that it owned the Kalickis' mortgage. Now it seems the state is getting pretty good at recouping money from big financial institutions. Beatrice Edwards Every source said that anyone who tried to notify the AIG corporate board about compliance problems before found him - or herself on the post—September redundancy list.

He was positioned in the compliance office, went to AIG board meetings, wrote reports, interviewed people, and generally hung around. But even then, the misconduct leading to that kind of penalty did not result in criminal charges against any individuals. Living Lies The Judges got wise to this and agreed that disclosing 35 witnesses, 34 of whom you do not intend to call, is the same as no disclosure at all. So now the banks are filing a disclosure of one witness a couple of days before trial.

In my opinion the attorney should move to strike the disclosure both as late ordinarily the trial order requires such disclosure at least 45 days before trial , and as admission that they were playing games when they previously disclosed 35 witnesses. The report was produced by the witness by simply pushing buttons on her computer.

HSBC settles U. Reuters The civil settlement announced Tuesday is the first to result from an investigation by U. Attorney Preet Bharara in Manhattan into whether mortgage servicers overcharged the government on foreclosures on federally-backed home loans. According to settlement papers, HSBC admitted and accepted responsibility for having failed in and to properly police foreclosure-related fees charged by outside lawyers and other service providers. Mortgage Servicing News The servicer, which the report does not identify by name, used short-term financing to acquire a large portfolio of delinquent loans backed by one or both of the government-sponsored enterprises.

This company lacked the infrastructure to handle so many loans, leading to consumer complaints and the payment delays, and limited credit availability threatened the servicer's ability to fund its operations. Keeping it in the news. As the five-year statute of limitations nears for crimes that led to the Great Recession, a federal judge wants to know why no high-level executives have been prosecuted. Deutsche Bank v.

US Bank v. LaFrance naked capitalism Of course, it might well be that faking the documents correctly would clearly be a fraud on the court, and it would likely be possible to establish that via forensics. In other words, the foreclosure attorneys may have been incompetent, or they may have been willing to go only so far in how much sanctions risk they were willing to take. Now this ruling does not mean the LaFrances win, since the case has been sent back to lower court. But US Bank has painted itself in a real corner by twice having presented documents that failed to establish its right to foreclose.

Pro se "I am not guilty of anything. Then, she said, it got worse again. Olivera v. More important, the undated indorsements, which were not attached to the complaint, do not establish that any of the foregoing entities owned or held the note when BAC filed the complaint. This has been the subject of numerous articles on this website. Being a holder means you can file suit, but without proving you are a holder with rights to enforce, you lose. And the way to prove that you have the rights to enforce is to provide some sort of written instrument that specifically says you have the right to enforce.

It is the only logical ruling. Otherwise anyone could steal a note and enforce it without ever committing perjury. You know the basics by now: Big Money investors decided to buy up all the foreclosed properties their pals at the banks created during the financial crisis, and rent them out to many of the same people who lost their homes. Then, they started selling securities backed by the rental revenue, just like the mortgage-backed securities from the crisis. There was just one problem: turns out that institutional investors have no idea how to manage rental properties.

Rufini v. CitiMortgage Bergman Gutierrez Law Rufini contacted Citimortgage and was assigned to a loan modification representative who did not return his calls for 3 weeks. Beaufort County v. In extreme circumstances, that could mean homeowners are left in the dark about who owns their loans and would have no public records to turn to try to defend their homes against foreclosure, Gruber said. Mortgage Servicing Fraud occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.

Article Articles are added several times a day. Countrywide et al. Plaintiff's Winning Response to SJ. Green Tree Servicing. It only happens when 'banks' lose money Daily Kos. The Unlawful Notary is a Felony.

Lexis-Nexis Fraud of the Day. Knowing about a crime and not reporting it is just about as bad as actually committing one. Weidner Law. It's no secret that certain plaintiffs lawyers have a special ability to make defendants sweat.

Our struggle for liberty has become a fight against concentrated wealth

Money News. AG: Colorado law firm getting paid too much in foreclosure settlement The law firm's requested fee "victimizes these homeowners once again," because the money could go to them instead, the state says in the filing. Denver Post. The Justice Department, which has measured the success of its mortgage cases largely on the size of cash penalties, has balked at the offer. Pam Martens Wall Street on Parade. Housing Wire. Thousands stuck in limbo waiting to save their homes. As part of the bank bailout, Washington set aside billions to help troubled homeowners make their mortgage payments and avoid losing their homes to foreclosure.

Free Advice. Mortgage Servicing News. The securitization notes, VFC Series , are backed by a pool of performing and nonperforming commercial and real estate owned properties. Foreclosure Defense Nationwide. Mortgage relief schemes increase foreclosure risk The Federal Trade Commission is going after six more companies that claim to help you avoid foreclosure. In separate actions,. Attorneys at the Northwest Consumer Law Center warn that these people are very convincing.

Covering up criminal activity? The bill S would create a one-year period starting the day it takes effect as law where those who lost homes because of improper foreclosures could sue to regain the title. County filing suit against MERS. Colleton Today. Another pro se win. Court of Appeals New Mexico. In Deutsche Bank , we concluded that a note with an undated indorsement in blank, which was not produced at the time the complaint was filed, but only at trial, was insufficient to establish a bank's standing to foreclose.

Homeownership at 19 Year Low. Mortgage Daily. While there have been quarterly ups and downs the homeownership rate has eroded at a fairly steady rate since then. The real reason Fannie and Freddie don't do principal modifications Because there is one big investor in MBS that the government is worried about — pension funds. Pro se wins reversal of breach of contract claim in JPMorgan's patterned loan mod scam. Dodd-Frank Financial Regulations hearing. Witnesses testified on the effects of the Dodd-Frank Wall Street Reform and Consumer Protection Act on the financial services industry, consumers, and American competitiveness since its enactment in July Bank deals leave public holding bag A much stronger fight has to occur going forward.

Poughkeepsie Journal. Nobody has been held criminally responsible for financial meltdown, and new rules could prove too weak to prevent another one. ABA Journal. Washington Post. Still relevant today. USA Watchdog. Pam Martens Wall Street Parade. Original Note Required Fair V. Appeal of the trial court's final judgment of foreclosure. Soldier's home demolished over building code violations while he was away on training. Daily Mail UK. The soldier's pregnant wife and child were kicked to the curb and many of their belongings destroyed before they could retrieve them.

David Dayen. At one level, a crackdown on foreclosure rescue scams and not the overarching mortgage and foreclosure fraud is like letting the arsonist who set fire to the house go while busting the guy who took five bucks off the dresser before the house started to burn. Mandelman Matters. The lawsuit is the latest to be brought against banks alleging manipulation of a benchmark.

National Mortgage News. Alan C. NY Times. Huff Post. WSJ Subscription. Goldman Sachs Group Inc. Why You Need to Understand the Volcker Rule And the relevance of that is that the investors were thus placed in the positions of direct lenders without documentation while the investment banks and their puppet corporations were left with documentation and no loans made BY THEM. Living Lies. It IS complicated. Deutsche Bank. First Circuit Court of Appeals. Daily Business Review. Jeff Poole said he was doing a favor for former sheriff's Lt.

And it's not just vacations, either. We can't negotiate as free people with banks or corporations. Corporations routinely deprive us of vital information when we enter into a business relationship with them, aided by weak regulations and lax enforcement. Banks frequently hide balloon payments and other key loan provisions in complex and unreadable documents, for example, while bankers misrepresent the terms of the loan.

Many types of corporations are allowed to operate in as monopolies or near-monopolies, including cable television operators and health insurers. Blue Cross of Alabama, for example, provides 90 percent of the health insurance coverage in the city of Birmingham. It denies us our freedom of choice and deprives us of our ability to negotiate our own contracts. And yet there's been a deafening silence from the libertarian movement, which has been commandeered by the Cato Institute and other institutions financed and controlled by large corporate interests.

Nowhere is our loss of liberty more apparent than in the banking industry, where MERS -- the Mortgage Electronic Registration Systems — deprives Americans citizens and the courts of the ability to know who holds their mortgages or the terms of that contract. Total household debt is nearly 12 trillion dollars. Americans now owe more in student loans than they do on their credit cards, and new evidence shows that banks have been resorting to the same illegal tactics to collect credit card debt that they used on mortgages.

Want to fight back? You've lost that right. Banks control FICO and other credit-scoring agencies. Corporations walk away from bad loan deals with their banks all the time, or threaten to walk, simply because that loan is no longer in their financial interest. But even when bank customers were deceived by their banks, they have little recourse.

If they don't pay back that unjust loan their credit scores will plunge and they'll lose their ability to borrow money, rent an apartment, even to get a job. And it's not just banks. Corporations have used media manipulation and corrupted arbitration clauses to rob Americans of the right to sue even when they or their loved ones have been robbed, maimed, or kill by corporate greed and neglect.

If they don't they're likely to be deprived of critical services like banking, power, and communications. The bankers to whom they owe than money created the bubble, and were wealthy beyond measure when it burst. These homeowners have been left holding the bag — and the debt, owed to the very people who misled them into taking out mortgages. The deception often included forgeries, lies about the loan's terms, and filing of false information. While they pay these unjust debts — or foreclose and face the consequences of that action — these homeowners have lost the right to relocate to another town or city, even if they want to move in search of jobs that many of them lost after the bank-spawned financial crisis.

Their debts make that impossible. Like citizens in the Soviet state, they must first ask permission of a cold and powerful bureaucracy — except that in their case its their bank, not the State. We're told that the early Bolsheviks charged prisoners' families for the bullets used to execute them. Americans are paying to prop up the banks that oppress them — through their taxes and their inflated debts. Meanwhile, many of these wealthy bankers in gated enclaves behind fences and guards.

Would you like to get a glimpse of their lavish homes? You can't. Get over it. Privacy is supposed to be an essential right. Yet Americans who claim they'd defend it to the death cheerfully sacrifice it every day to play Mafia Wars. Or to search for a celebrity. Or to connect with high school classmates they never really liked anyway. Internet companies sell our personal data for profit, often by using cookies on our computers to track our activity. Corporations have voluntarily allowed the government to use their technology to spy on citizens, included one reported case where the government placed a spy server at an ATT location to track the activities of its subscribers.

There's a lot more that we don't know. We were taught that a person' home is his or her castle. But our electronic devices have breached the castle walls, and have placed spies in our living rooms, dens … and bedrooms. Americans, especially conservatives, should be demanding that corporations give us back our privacy rights. And their consensus can become positively Orwellian. Tens of thousands of demonstrators took to the streets for the inauguration of George W.

Bush, only to be subject to an almost-complete news media blackout. An estimated one million demonstrators jammed the streets of cities in the United States and worldwide on February 15, , to protest the invasion of Iraq. This creates a false reality which supports our final loss of freedom:. On issue after issue, the wishes of most Americans are ignored or marginalized by the nation's political and media elite.

Four Horsemen - Feature Documentary - Official Version

Most Americans want tighter control on US banks, and that's considered politically impossible. They want much higher taxes for millionaires, which is also dismissed. Meanwhile, the nation continues to pursue policies that benefit the most unpopular institutions in the nation, according to that Gallup poll: big corporations, HMOs, and Wall Street banks.


The only thing on Gallup's list that's more unpopular than these three institutions? We need to take back the language of freedom. Freedom's struggle is the struggle against Big Wealth. That's the right argument, and it's a winning argument. As John Adams said many years ago:. There is in human nature a resentment of injury, and indignation against wrong If the people are capable of understanding, seeing and feeling the differences between true and false, right and wrong, virtue and vice, to what better principle can the friends of mankind apply Buy Now, Pay Later. Already a Subscriber?

Log In Here. Please sign in with Facebook or Google below:. If you have an older Salon account, please enter your username and password below: sign in Forgot Password? Log Out. Ten ways Americans have lost their freedom Our struggle for liberty has become a fight against concentrated wealth Related Hone your digital marketing skills. Google closed new AI ethics council. Honoring the legacy of Frances Perkins. Consumers rejected Trump-like drug plan.

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