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FIFTH U.S. CIRCUIT RULES FHFA UNCONSTITUTIONAL! — Clouded Titles Blog

BREAKING NEWS — OP-ED — This just received out of New Orleans … Collins et al v Mnuchin et al, 5th App Cir No 17-20364 (Jul 16, 2018) The 5th Circuit Court of Appeals denied damage awards to three investors who claim they lost money as shareholders in Fannie Mae and Freddie Mac due to […]

via FIFTH U.S. CIRCUIT RULES FHFA UNCONSTITUTIONAL! — Clouded Titles Blog

Hopefully more of the United States Circuit Courts of Appeal will agree with this decision and also find that the Federal Housing Finance Agency is unconstitutional.

Securitization and Standing

Livinglies's Weblog

Like other decisions establishing  the law of the land, the decisions of SCOTUS are often taken as advisory or optional. Nevertheless TILA Rescission and Article III standing have been affirmed by the Court of last resort. Reluctant judges in trial and appellate courts will get their hands slapped one more time but all the bad prior decisions and their consequences  are neither reversed nor redressed.

Standing is pretty easy — it must be alleged in facts that will be proven at trial. If it isn’t alleged or isn’t proven at trial, the Court lacks jurisdiction to do anything other than to dismiss the claims of any party seeking satisfaction because they have no claim for redress.

Let us help you plan your defense strategy, discovery requests and defense narrative: Dial 954-451-1230 or 202-838-6345. Ask for a Consult.

Purchase now Neil Garfield’s Mastering Discovery and Evidence in Foreclosure Defense webinar including 3.5…

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ZeroHedge: It’s Subprime Time! 2008 Part Deux-Coming to a Market near You!

This is very bad news that virtually ensures that the next real estate crash will be worse than the last one.

Livinglies's Weblog

Injured by a predatory attorney? Email: info@predatorylies.com

https://www.zerohedge.com/news/2018-03-30/deja-vu-all-over-again-subprime-mbs-demand-oversubscribed-and-sp-says-risk

The stock market is at record highs and people with FICO scores as low as 500 are once again happily obtaining mortgages. Not only that, but these mortgages are once again being securitized and are in demand by yield chasers.

All of the elements that are necessary for the 2008 subprime crisis to repeat itself are starting to fall back into place. Aside from the fact that we have inflated bubbles across basically all asset classes for the most part, not the least of which is evident in the stock market, the Financial Times reported today that not only are subprime mortgage backed securities becoming prominent again, but that the chase for yield was what fueling demand:

Issuance of securities backed by riskier US mortgages roughly doubled in the first quarter from a year earlier, as investors lapped up assets blamed for bringing…

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Wells Fargo “Lending” Securities It Didn’t Own

The government really needs to revoke the national banking charter for Wells Fargo, either permanently, or for a minimum of 5-10 years. That will send a message to the other big banks that fraudulent behavior will not be tolerated.

Livinglies's Weblog

Translation: WFB was the “custodian” of alleged “mortgage-backed” certificates issued for the benefit of investors who paid billions of dollars for ownership of the certificates. WFB “Loaned” those alleged securities to brokers. The brokers in exchange provided “collateral” the proceeds of which were reinvested by WFB. In short, WFB was laundering the investors money for the sole benefit of WFB and not for the investors who owned the certificates and certainly to the detriment of the brokers and their buyers of derivative instruments based upon the loan of the securities.

This case reveals the flowering of multiple levels arising from false claims of securitization. First WFB issues certificates from a fictitious trust that owns nothing. Then it keeps both the money paid for those certificates and it keeps the certificates as well. On Wall Street this practice is called holding securities in “street name.” Then WFB engages in trading on…

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Home Prices Are Back At Housing Bubble Levels — considertheconsumer

Home prices have returned to the lofty levels they reached 10 years ago, just before the market crashed in a wave of foreclosures. But today’s housing market is very different from the one in 2006, according to Danielle Hale, chief economist at realtor.com. In 2006, the housing market was fueled by plentiful mortgage money and lenient…

via Home Prices Are Back At Housing Bubble Levels — considertheconsumer

This article is incorrect in my opinion as sub-prime mortgages and low documentation loans are making a comeback. It is only a matter of time until the current housing bubble bursts.

The Housing Bubble is about to pop

“This isn’t your father’s housing and mortgage market- Mark Hanson, Real Estate Analyst https://www.mhanson.com/ In 2007 the largest housing bubble in American history was inflating and literally popped overnight. The Mainstream media would prefer that you focus on the DC Circus Show than on the Case-Shiller charts that indicate that 2017 looks eerily familiar. In […]

via Housing Bubble II: Bubble, Bubble, Toil and Trouble — Livinglies’s Weblog

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