RSS
 


Archive for September, 2010

Grayson on Foreclosure Fraud Being Rampant in Florida

30 Sep

Alan Grayson provides some stunning evidence of the ongoing foreclosure fraud in Florida and around the country… Servicers make $6,000. per foreclosure – otherwise, servicing is a break even business. Freddie and Fannie are shareholders in MERS… and have been using the same foreclosure mills the servicers are using; and 97% of all mortgages from [...]

 

Jeffrey Stephan Video: GMAC’s “Team Leader” of Foreclosure and Service Transfer

30 Sep

These are purported to be the actual video records of the deposition of one Jeffrey Stephan of GMAC. Can we just say, first off, that we really thought; at the end of the first one that this had to be some kind of joke – and we actually wondered if this person was an actor [...]

 

Yves Smith Ruminates on Fitch Potential Downgrading of Servicers Based on Affidavit Issues

30 Sep

We have to say we agree with Yves Smith that Fitch is in for a rude awakening if they think affidavits are the only issues for servicers… Fitch Considering Downgrading Servicers Over Affidavits from naked capitalism by Yves Smith Boy, if Fitch thinks servicer problems are limited to affidavits, it is gonna learn a lot [...]

 

Foreclosure Fraud: It Just Keeps Getting Better… Er, Worse!

29 Sep

Now in this piece it turns out that 20% of all Florida Foreclosure cases have major issues – well, we actually bet that the number is much higher. Much higher. But that’s just us – and we’re decidedly opinionated on the topic. The Foreclosure FUBAR is getting FUBAR-ier it seems… More Foreclosure Mess Updates: 20% [...]

 

JP MORGAN HALTS 50K FORECLOSURES AS CHASE JOINS THE FORECLOSURE FRAUD LIST

29 Sep

Could it be? Really – could it be?  This story just flew across our desk and we are just smiling.  Now, that’s GMAC, CHASE, c’mon, fells – let’s have the rest of you out here where we can see you:  WELLS, B of A, CITI, and oh, let’s not forget FREDDIE and FANNIE… Let the [...]

 

Foreclosure Fraud By Lenders – The Market Ticker

29 Sep

Hmm; we’ve been saying this for a little while – and it’s getting a little more obvious – and a little more heinous… Intentional Destruction of Documents? Really? Hmmm? Thanks, Karl. The Curtains Are Now On Fire (Mortgage/MBS Fraud) The Market Ticker ® – Commentary on The Capital Markets Posted 2010-09-29 10:09 by Karl Denninger [...]

 

The Coninueing Saga Of the Florida Courts: No Due Process Here; Big Banks Own the Courts? Looks That Way./

28 Sep

This has been a NakedCapitalism day for certain. Well, Kudos to Yves Smith – she just rocks – can we say??? Thanks Yves – we are tracking. Florida’s Kangaroo Foreclosure Courts: Judges Denying Due Process on Behalf of Banks from naked capitalism by Yves Smith Florida is ground zero of the foreclosure crisis. In addition [...]

 

More Yves, This Time on The Real Story Behind the Missing Notes: Sort of…

28 Sep

Produce the Note; not so simple when the note was destroyed… No electronic signatures permitted… Max Gardner and his BK attorneys army… Original notes all still with the original lenders? That could also be the case… Really? “We never transferred the paper” – really? Fabricated documents are the only way out? Could be… FUBAR Mortgage [...]

 

Yves Smith, Ratings Agencies, INvestment Banks and Mis-Direction

28 Sep

Yves hits the nail on the head again. Follow the dots carefully here. Very Carefully. Diligence? Disclosure? Immunity? Hmmm. Rating Agencies, The Subprime Blame Game, and Fishy FCIC Testimony from naked capitalism by Yves Smith Let’s be clear: there are plenty of bad guys, chumps, and people who should have known better in the subprime [...]

 

Max Keiser The Keiser Report – Walmart, Munger and More…

28 Sep

Max Keiser and Stacy Herbert take on Walmart, Charlie Munger… Banks, Bailouts, Wells Fargo and Mexican Drug Laundering, God’s will, Llyod Blankfein, Vatican Money laundering Probe…