By ABIGAIL FIELD Posted 1:30 PM 03/09/11

As if the country needed more proof of the outlaw behaviors of banks and their agents, The Baltimore Sun‘s Jamie Smith Hopkins reports that 1,000 or more Maryland deeds are likely forgeries, created by a foreclosure mill. A former notary from law firm Shapiro & Burson filed an affidavit with law enforcement and regulators charging that the attorneys’ signatures on the deeds and other important documents were forgeries signed at the express direction of management. The affidavit attached sample signatures.

If the forgery claims are true — and that’s not much of an “if” — the false deeds cloud the properties’ titles, creating a nightmare for the innocent people who bought the homes after they were foreclosed upon.

Wow. Talk about brass balls. Lets see you maneuver through this one.

By NELSON D. SCHWARTZ Published: March 8, 2011

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Showing resistance for the first time against government pressure to write off tens of billions worth of mortgage debt, Bank of America executives said on Tuesday that the idea was unworkable and warned that it would be unfair to borrowers who had managed to stay current on their loans.

“There’s a core problem that if you start to help certain people and don’t help other people, it’s going to be very hard to explain the difference,” said Brian T. Moynihan, the chief executive of Bank of America. “Our duty is to have a fair modification process.”

Written on March 8, 2011 by Editor

I just had a chance to look through the 27 page document.  My first impression is profound sadness in knowing that the Attorney Generals feel compelled to state that all affidavits must be truthful and contain no false statements.  Have things gotten so bad that we must now get the Servicers to write 1,000 times on the school blackboard:  “We must tell the truth; We must tell the truth; We must tell the truth.” And we must make sure our attorneys and third-party vendors are telling the truth.  Have they all been lying on such a grand scale?  I am sorry for the rhetorical question—of course they have.

MERS under fire for unpaid fees

By CHRIS GLORIOSO

Updated 7:08 AM EST, Tue, Mar 8, 2011

Most Americans have never heard of it, but this mortgage industry holds interests in 50 percent of all U.S. home loans.

No, not Fannie Mae, or Freddie Mac either.

Mortgage Electronic Registration Systems, otherwise known as MERS, is a private firm that tracks ownership in hundreds of thousands of home loans.  The computerized network allows banks to buy and sell mortgages without having to record the transfers at the county level.

An added bonus for the banks is the avoidance of county fees.  When MERS is used to turn a regular mortgage into an investment, financial institutions don’t pay “recording fees,” which are usually small charges of between $50 and $100, to the counties where the underlying properties are physically located.

Full Article HERE

CA Retired Judge Samuel L. Bufford said it best …

“Lenders passed around the deed to Vargas’ house as if it were a whiskey bottle at a frat party”

Jp MORGAN CHASE BANK, N.A. f/k/a Jp
MORGAN CHASE BANK f/k/a THE CHASE
MANHA TTAN BANK, AS TRUSTEE,

against

INDI flRA RAMIREZ, JOSEPH JAMES, KEISH
McCLOUD a/k/a KEISHA McLEOD, MYRNA
JAMES, NORTH FORK BANK,

Excerpt:

Finally, a court may vacate a note of issue at any time on its own motion if it appears that a material fact in the certificate of readiness is incorrect (see, 22 NYCRR 202.21 [e]; Simon v City of Syracuse Police Dept., 13 AD3d 1228, 787 NYS2d 577 [4th Oept 2004], Iv dismissed 5 NY2d 746, 800 NYS2d 375 [2005]). Here, based on the evidence submitted with the moving papers and the confusion regarding plaintiff’s standing and prosecution of this foreclosure action, the Court concludes that the certificate of readiness contains a misstatement of material fact, namely, that
disclosure is complete and the action is ready for trial. Accordingly, the Court, sua sponte, vacates the note of issue filed by plaintiff and strikes this action from the trial calendar (see 22 NYCRR 202.21 [e]).

This is a MUST read below…

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Excerpt:

This matter comes before the Court on Defendant’s Motion to Dismiss based on Plaintiff’s failure to allege in it’s complaint that is is the owner and holder of the subject note…

Continue below…

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