Christopher Spradling | FORECLOSURE FRAUD | by DinSFLA

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Janet Tavakoli: “Fraud As a Business Model”

Janet Tavakoli: “Fraud As a Business Model”


If William K. Black and Janet would only team up to write a book?

HuffPO-

There were many factors that contributed to our recent financial bubble: deregulation, cheap money from the Fed, failure to enforce remaining regulations, crony capitalism, hubris, speculation, leverage, and fraud among other problems. While fraud wasn’t the only issue, it was and is a significant contributor to the credit bubble. Restraining fraud is a necessary but not sufficient condition for a sound financial system. Congressional investigations in recent years have put ample evidence of fraud in the public domain.

To illustrate just one type of malicious mischief, Senator Carl Levin (D. Mich.), Chairman of a senate investigative panel, issued a memo stating that Goldman ” magnified the impact of toxic mortgages.” The Wall Street Journal reviewed data showing that a $38 million subprime-mortgage bond created in June 2006 was referenced in more than 30 debt pool causing around$280 million in losses to investors by 2008. In other words, Goldman kept repackaging, reselling or protecting (buying credit default protection on) losers. It took the wrong kind of nerve for Goldman’s CEO to say he was doing “God’s work.”

[HUFFINGTON POST]

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New York prosecutors widen Goldman probe: report

New York prosecutors widen Goldman probe: report


REUTERS-

New York prosecutors are widening their probe into the manner in which Goldman Sachs (GS.N) marketed certain mortgage-linked securities before the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.

[REUTERS]

Them were some “Shitty Deals”

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Goldman Sachs must investigate questionable lending and foreclosure practices in its mortgage unit, Fed says.

Goldman Sachs must investigate questionable lending and foreclosure practices in its mortgage unit, Fed says.


They can start here:

Deposition Transcript of Litton Loan Servicing Litigation Manager Christopher Spradling

CNN-

NEW YORK (CNNMoney) — The Federal Reserve issued an enforcement action Thursday against Goldman Sachs, saying the investment bank must investigate questionable lending and foreclosure practices in its mortgage unit.

The action orders Goldman to hire an independent consultant to investigate foreclosure proceedings by Litton Loan Servicing between 2009 and 2010.

[CNN]

[ipaper docId=63786308 access_key=key-2ay6x0jf7uqjsxrfoqrf height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Deposition Transcript of Litton Loan Servicing Litigation Manager Christopher Spradling

Deposition Transcript of Litton Loan Servicing Litigation Manager Christopher Spradling


via: Mario Kenny

Excerpts:

Q. Would Litton have reached out to — I’m going to
13 call it MERS in place of Mortgage Electronic
14 Registration Systems. Would Litton have reached out to
15 MERS to execute this assignment?
16 A. Actually, Marti Noriega and Denise Bailey are
17 employed by Litton Loan Servicing. They have authority
18 to sign on behalf of MERS.
19 Q. Does either of those parties have authority to
20 sign on behalf of Accredited Home Lenders?
21 A. No, not to my knowledge.
22 Q. Do you know if Accredited Home Lenders was still
23 in place on the date that this assignment of mortgage
24 was executed?

THE WITNESS: I’m not certain of Accredited
2 Home Lenders’ status at this time.
3 BY MR. KORTE:
4 Q. As of April of 2009, are you aware if Accredited
5 Home Lenders was in bankruptcy?
6 A. I don’t know what their status was.
7 Q. Are there any other assignments of mortgage other
8 than this one as Composite Exhibit C that you’re aware
9 of?
10 A. No.

<SNIP>

Q. Well, is this Allonge a copy of the Allonge; or
3 is this the original Allonge copied with the correct
4 endorsement?
5 A. The only way I could verify that is to see the
6 actual, original note which is on file with the court.
7 Q. Do you know why the Allonges are different from
8 the one that was filed with the complaint and the one
9 that was filed with the court several months later?
10 A. No, I do not.

Continue below to the Depo…

[ipaper docId=51195445 access_key=key-1bsict46c55yuol0q8ge height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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OHIO COMMON PLEAS COURT DISMISSES DEUTSCHE BANK NATIONAL TRUST FOR LACK OF JURISDICTION

OHIO COMMON PLEAS COURT DISMISSES DEUTSCHE BANK NATIONAL TRUST FOR LACK OF JURISDICTION


Deutsche Bank National Trust Company

v.

Steve M. Feck

Excerpt:

Because Plaintiff failed to establish by preponderance of the evidence that it possessed the Note at the time it filed it’s complaint, the Court concludes that it lacks subject matter jurisdiction to adjudicate the rights of the parties and orders the matter dismissed without prejudice as to it’s re-filing.

Continue below…

[ipaper docId=44549597 access_key=key-1ww169yebt2r1scyb5pf height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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