Q Define “cradle to grave” in the context you said it — meant it when you said it.
A When I speak of cradle to grave, that would be that we provide services that may become necessary on a default of loan on behalf of the client, so it generally come in as a foreclosure. If the foreclosure is interrupted by a bankruptcy, we will handle that bankruptcy. Once the bankruptcy has been concluded and we’re free — sorry — from the automatic stay, we would then continue on with the foreclosure. Once the foreclosure is complete and title invest in the servicer, we would then handle any evictions where necessary. Once the eviction is complete and it becomes a real estate-owned property, we would then open the title work and handle the closing on behalf of the grantor, the bank as the seller, to the grantee.
Q And those systems that were used by the Law Offices of David J. Stern, P.A., you developed?
A I — the day one, I developed them; day two, they continued to be expanded and improved upon by people that were smarter than I was in those particular areas.
Q Okay. But would you agree with me certainly until 2006, you were the captain of the ship with regard to your office and how it ran and the systems that were to be used?
A I would agree that I was the captain of the ship. I would strongly disagree that processes were put in — that were put in were put in by me. The development, better practices, things like that, Miriam, Sam, Beverly, when she joined, and Cheryl, did a lot of that. So, there was — in 2000 — even in 2000, there were procedures and policies put in place that they were comfortable in doing and realized that I would have no objection. If I had to deal with every granular change that results from Fannie or Freddie guidelines or a local rule or a judge making some sort of requirement, that by definition would be an impossibility. Hence, development expanding processes and procedures very quickly fell on Miriam, Beverly and — and — and Cheryl. I was there for the day-to-day probably up until 2006. He had my nose and things, but it didn’t take long to realize that. Sometimes you can’t be the rainmaker and be involved in procedure because very quickly, I did not know or have knowledge as to the capabilities of the staff that was in place.
Q Did you ever object to any of the policies or procedures that were put in place by others beside yourself.
A I don’t I don’t recall. Apparently, not very long or hard or I’ll stay with them in there.
INQUIRY CONCERNING A JUDGE NO. 09-01 and 09-578
RE: JUDGE N. JAMES TURNER SC09-1182
Illegal Practice of Law
As a sitting judge, Turner was prohibited from engaging in the practice of law. However, he knowingly acted as his mother’s lawyer in a foreclosure proceeding in Dade County.
THE FLORIDA JUDICIAL QUALIFICATIONS COMMISSION’S SECOND
INTERROGATORIES TO JUDGE N. JAMES TURNER states:
INTERROGATORY NO. 1: Please specifically itemize and describe the source of funds (in excess of $42,000) that you reported as loans from you to your campaign.
ANSWER:
INTERROGATORY NO. 2: Please specifically itemize and describe all funds, however characterized, you received from your mother (Mignon Gordon) which were used for the campaign for the office you now hold, including, the date(s) any such funds were received, the specific amounts of such funds, and the total of such funds.
ANSWER:
INTERROGATORY NO. 3:Please specifically describe the agreement, arrangement or understanding you had with your mother regarding the funds you received from her which were used in the campaign for the office you now hold.
ANSWER:
INTERROGATORY NO. 4: Please describe all communications (written or parole) you had with David J. Stern, Esquire regarding your mother or the foreclosure litigation brought against her by Citimortgage, Inc. in Dade County, Florida, including the nature, substance and approximate dates of all such communications.
ANSWER:
INTERROGATORY NO. 5:Please describe all communications (written or parole) you had with any person other than David J. Stern, Esquireregarding your mother or the foreclosure litigation brought against her by Citimortgage, Inc. in Dade County, Florida, including the nature, substance and approximate dates of all such communications.
ANSWER:
NOTICE OF THIRD AMENDED CONSOLIDATED
FORMAL CHARGES states:
7. During the campaign for the office you now hold, you knowingly accepted and received a very substantial campaign contribution made for the purpose of influencing the results of the election, whether characterized as a gift or loan, far in excess of the $500 limit established by Ch. 106, Florida Statutes, from your mother (Mignon Gordon) which you used to pay for your campaign, in violation of Chapter 106, Florida Statutes, and Canons 1, 2A and 7C(1) of the Code of Judicial Conduct.
8. As a sitting circuit court judge, on or about November 20, 2009, you knowingly filed a notice of appearance in pending litigation in Dade County, Florida (CitiMortgage, Inc. v. Gordon, Case No. 2009-74992-CA- 01) where you purported to appear to represent your mother in foreclosure proceedings brought against her therein, in violation of Canons 1, 2A and 5G of the Code of Judicial Conduct.
9. As a sitting circuit court judge, you knowingly represented and acted as litigation counsel for your mother in the foreclosure proceeding in Dade County, Florida described above by,inter alia, communicating with counsel for the mortgagee on her behalf, in Osceola County, Florida, in violation of Canons 1, 2A and 5G of the Code of Judicial Conduct.
The evidence on the docket as well as the Notice of Mediation prove definitively that Deutsche Bank, the Law Offices of David J. Stern, Mr- Stern himself as lead attorney of the Law Offices of David J. Stern, and/or Florida Mediation Group, Inc. Intentionally and knowingly violated a court order, a crime defined by FL Crim. Stat. Sec. 3.840, Indirect Criminal- Contempt of Judge Roger Colton’s 4/1/2010 Order for Mediation to occur within 60 days at the plaintiff’s expense.
The Law Offices of David J. Stern has only about 15 attorneys, according to legal directories.
However, it’s the biggest filer of mortgage foreclosure suits in Florida, reports the Tampa Tribune. Aided by a back office that dwarfs the law firm, with a staff of nearly 1,000, the Miami area firm files some 5,800 foreclosure actions monthly.
The back-office operation, DJSP Enterprises, is publicly traded and hence must file financial reports with the Securities and Exchange Commission. It netted almost $45 million in 2009 on a little over $260 million in gross revenue that year. The mortgage meltdown of recent years apparently has been good to the company: In 2006, it earned a profit of $8.6 million on $40.4 million in revenue.
Stern, who is the company’s chairman and chief executive officer, could not be reached for comment, the newspaper says.
His law firm has been in the news lately, after one Florida judge dismissed a foreclosure case due to what he described as a “fraudulently backdated” mortgage document, and another said, in a hearing earlier this month concerning another of the Stern firm’s foreclosure cases, “I don’t have any confidence that any of the documents the court’s receiving on these mass foreclosures are valid.”
Earlier coverage:
ABAJournal.com: “Judge Dismisses Mortgage Foreclosure Over ‘Fraudulently Backdated’ Doc”
Looks like an Assignment of Mortgage was FRAUDULENTLY created by David Sterns office and signed by Cheryl Samons. Who woulda thunk…
“By now the fact that foreclosure mills, pretender lenders and their document mills across the country are perpetrating widespread and systemic fraud on the courts is not news. Well sure major questions remain unanswered such as what will be the ultimate price of all this fraud…as reported previously much of this fraud will go unpunished because much of the evidence is apparently being sent back to the law firms that commit the fraud. (In violation of court rules) But so much is sliding by these days.
We all must do everything we can to bring fraud to the court’s attention and to preserve the evidence when it is found. Attached here is the brilliant work of a Foreclosure Fraud Fighter, Ralph Fisher of Tampa, Florida who shows us what the courts are willing to do when a good attorney makes AND PROVES a case of fraud…..Case dismissed WITH PREJUDICE”.
From the order
The hearing time was set for March 1, 2010 at 3 p.m. for a 20-minute hearing but the Plaintiff failed to appear.
after sounding the halls and after awaiting telephonic communication from the Plaintiff. The Plaintiff still failed to appear. An assistant for Plaintiff s counsel called at about 3:44 p.m. to find out the outcome of the hearing.
Motion to Compel, the court finds that the Plaintiff has failed to produce answers to the Interrogatories for a period of 26 months
The Defendant’s Motion in Limine/Motion to Strike was based on an allegation that the Assignment of Mortgage was created after the filing of this action, but the document date and notarial date were purposely backdated by the Plaintiff to a date prior the filing of this foreclosure action.
The Assignment, as an instrument of fraud in this Court intentionally perpetrated upon this court by the Plaintiff, was made to appear as though it was created and notorized on December 5, 2007. However, that purported creation/notarization date was facially impossible: the stamp on the notary was dated May 19,2012. Since Notary commissions only last four years in Florida (see F .S. Section 117.01 (l )), the notary stamp used on this instrument did not even exist until approximately five months after the purported date on the Assignment.
The court specifically finds that the purported Assignment did not exist at the time of filing of this action; that the purported Assignment was subsequently created and the execution date and notarial date were fraudulently backdated, in a purposeful, intentional effort to mislead the Defendant and this Court. The Court rejects the Assignment and finds that is not entitled to introduction in evidence for any purpose. The Court finds that the Plaintiff does not have standing to bring its action.
IT IS THEREFORE. ORDERED AND ADJUDGED THAT:
The Motion to Compel is granted. As a sanction for egregious failure to comply with discovery Rules the Plaintiff shall be prohibited from presenting the alleged Promissory Note to this Court.
The Plaintiff shall be prohibited from introducing into evidence the alleged Promissory Note.
The Plaintiff’s recording and filing regarding the fraudulent Assignment of Mortgage is stricken, and the Plaintiff is prohibited from entering the Assignment of Mortgage into evidence.
The Motion for Rehearing of Defendant’s Motion to Dismiss is granted and the Motion to Dismiss is granted. The Plaintiff’s complaint is dismissed with prejudice, based on the fraud intentionally perpetrated upon the Court by the Plaintiff.
Moral to the story… ALL assignments are FRAUDULENT.
For a brief period of time in the history of courts in Florida, lawyers engaged in a widespread and pervasive practice of submitting blatantly false evidence in courts. This period of time began roughly when the foreclosure crisis moved from the mortgage and lending industries and into Florida courts.
Now that judges and courts have become aware of just how pervasive this practice was, individual efforts on the part of judges and systemic rule changes implemented by the Florida Supreme Court should signal the end of this era. An article that appeared in the Sarasota Tribune and can be viewed here quotes a local judge, Robert Bennett from Sarasota who recently had one of his opinions reversed by the Second District Court of Appeals. (Verizzo v. Bank of New York) Found here
In the article, the good judge admits that his initial ruling…in favor of the bank was incorrect. The decision was a reflection of a judicial system that was totally overwhelmed by problems caused by the mortgage and lending institutions….they caused the problems then dumped their problems in the laps of absurdly understaffed courts and judges then said, “Here, you fix the mess we’ve created!”
It’s taken a while to identify the issues and to grasp the scope of the problem, but now that judges and court systems are aware that they were taken advantage of, the tide has shifted. New rules and new cases, both from appellate courts and from sister courts, have made judges all over aware of the issues such that they are no longer willing to look the other way and sign off granting sale….when asked how he thinks Plaintiff’s attorneys will comply, Chief Judge Lee Hayworth (long a critic of sloppy Plaintiff practice) had this to say:
“I’m looking forward to see how they do comply,” Haworth said. “Their license could be on the line.”
Liberty and Justice Prevail When Good Judges Sit Firmly on The Bench!
These “Black Deeds”, collectively, are proof that the notaries, witnesses, and signatories on each and every like assignment of mortgage is suspect at best; created as purely fabricated malarkey at worst. Professionals are starting to surmise that all of these mortgage assignments magically produced, presto-chango, to ram another foreclosure through “the system” are not credible evidence upon which the transfer of property, dispensation of justice, and the roof over a family’s head should rest.
And, then, here ya’ go: another colleague found a mortgage assignment back-dated four years in order to assign property two years hence. Being no math whiz, would someone please clarify if that is a net back-dating of two years? Perhaps it’s a cumulative formula, adding the 4 years to 2 years, makes the “off dating” 6 years? I dunno! How’s that really work? Sounds like an episode of Beat The Clock!
This is no mere document failure! Please. Call it what it is: foreclosures upon millions of families, evicted from their homes by financial entities with no more rights to take those homes than have you or I. When faced with this fact, the financial entities are creating, fabricating (aka MAKING UP) the “evidence” to prove that they have the
right to take a family’s home and throw them with all their worldly
possessions into the street! Where are the investors who really put up the money for these home loans? They must be singing the blues to see some interloper foreclose a million times over and keep the proceeds from the post-foreclosure sale. Welcome to America! Waive to the Statue of Liberty on your way in. Breathe in that democratic process air we’ve prided ourselves on for lo these 233 years.
There are millions upon millions of families being evicted onto the streets, many with no alternative housing options. It’s not so easy to find a job in the best of circumstances today. Ever tried to find and/or hold down a job without a fixed address? How ’bout the children, in the middle of their school year? What about the beloved pets of foreclosure, fully members of the newly homeless family? Ever tried to find emergency shelter or housing with a deeply loved animal or two? What of the elderly who do not have the remaining lifespan to recover from the terrible financial and personal blow and may face their remaining “golden years” begging for scarce, dwindling social-net resources. What of the disabled, those of us living in America who, without dramatic rescue, are too ill and infirm to ever hope to again live independently under cover.
I may or may not return here to add more…………I’m too distraught to continue writing of my country’s egregious willful complicity in these relentless evictions and property confiscation. My heart and soul start to rupture past the point of repair when I think of how America is treating it’s citizenry, including the weakest of us all; based on a million-fold fraudulent transactions from mortgage origination well past post-foreclosure sale.
Let’s move on in a more wickedly delicious track, shall we?
Two unrelated, remorseful individuals have come forward, whispering to us colleagues with tales of the inner workings and “business practices” of document creation “mills” which may or may not be operating under the direction of foreclosure mill law firm. Permission from the parties has been extracted to publish this post.
Apparently, that same fear, hopelessness, and rage which descend upon one who is evicted from the only home they know to face a bleak and uncertain future……….. Yes, THAT fear, hopelessness and rage! Well, that same emotional response seems to have hit hard on a few past and/or current employees of certain companies which may have been involved in dubious, questionable “business practices”.
A crisis of conscience? Fear of criminal charges? Facing foreclosure themselves? Relative evicted? Family member tenet unexpectedly “trashed out”? Seeing the futility of working out a loan mod? One of the signatories (or employers thereof) who frantically googles the same names over and over and over in a mad search for what is known, what is published?
Could it be one or more of these signatories, while working for a “document solutions” company, have been “transferring property and assets” valued in the multi-billions and ostensibly owned by the top financial institutions in the world? Ron Mehig? Bethany Hood? Linda Green? From New House Title? Cheryl Hodge? Korrell Harp? From Law Offices of David Stern? Scott Anderson? Lori Brown? Barbara Hindman? Lori Brown? Whitney K. Cook? Melissa Flanagan? Lillana Morcan? Liquenda Allotey? Christina Trowbridge? Raquel Smith? Branden Kiel? Beth Cottrell? Twanna Thomas? From DocX? Winona Church? Nancy Reyes? William W. Huffman? Jill Arnold? Shameca Harrison? Kari Marx? Renee Hertzler? Mark Biscof? From LPS? Lorraine Brown?
Who knows? I’m not one to force another to reveal their personal motivations. I enjoy the privacy afforded me by the hard bones of my skull. I often keep my thoughts to myself and extend to others the same respect.
For a short period of time in Florida, pretender lenders and their attorneys had a field day in Florida courts, obtaining foreclosure judgments and title to property based on the flimsiest of evidence. Now courts are aware of many of the problems with these files and lenders can no longer count on a free ride to the foreclosure auction. Below is a sampling of case headnotes from recent circuit court opinions that denied foreclosure. Judges in circuits across the state are now standing up for consumers (or at least for the rule of law) and requiring lenders to prove their right to claim the relief they seek. A sampling of the headnotes follows:
Mortgages — Foreclosure — Stay — Foreclosure action is stayed until mortgagor has been afforded mitigation and modification opportunities of home affordable modification program
Mortgages — Foreclosure — Standing — Motion for final judgment of foreclosure denied — Plaintiff that did not become holder of note until after suit was filed did not have standing to bring action — Even if assignment could confer standing retroactively, assignment is deficient where jurat does not indicate that it was signed in presence of notary, and assignor does not have documented authority to assign mortgage — Further, motion for summary judgment is deficient where supporting affidavit was signed by person whose only demonstrated authority is to assign and release liens, not by individual with corporate authority and demonstrated knowledge.
Mortgages — Foreclosure — Complaint — Plaintiff has failed to state cause of action where partial terms sheet attached to foreclosure complaint omits details as to who gets paid, when and where payment is due, and amount of payment — Further, assignment that is dated after filing of suit is at variance with complaint — Complaint dismissed with leave to amend.
Mortgages — Foreclosure — Standing — Motion to dismiss is granted with leave to file new or amended complaint to allege that plaintiff is owner and holder of note and mortgage and to allege additional facts that support that allegation.
Mortgages — Foreclosure — Where note filed by plaintiff is endorsed but does not name entity to which it is made payable, plaintiff failed to plead in complaint that it is owner of note or mortgage, mortgage names entity other than plaintiff as mortgagee, plaintiff has filed assignment of mortgage executed and recorded after complaint was filed, and complaint does not demonstrate equitable assignment of mortgage to plaintiff before complaint was filed, plaintiff must amend complaint to allege that it is owner and holder of note and mortgage and identify documents upon which it relies to establish that it holds and owns note and mortgage
When speaking in generalities, it’s difficult for folks to understand what lawyer, judges and informed consumers are ranting about when we scream, “THE BANKS, LENDERS AND FORECLOSURE MILLS ARE COMMITTING FRAUD!”
I attach here a deposition transcript of Angela Melissa Nolan, a robo signer at Chase Home Finance. In the deposition, she describes in detail some of the corporate processes in place that purport to give pretender lenders the evidentiary basis to pursue foreclosure cases….I’ve called these people “Robo Signers” because prior depositions indicated they don’t read anything…they just sign. This deposition reveals another form of “Robo Signer”, a computer generated document, complete with a “real” signature scanned in…..and the rabbit hole just gets deeper and deeper.
C’mon take a few minutes to watch the video…I tell you it’s exactly what’s happening here!
Attached here is the latest example of a Pinellas County Circuit Court judge applying the law and sticking up for the rights of homeowners and consumers. The pattern in Pinellas County, Florida is becoming clear…..the judges here “get it” and are not afraid to issue correct legal decisions–despite the fact that the consequences for banks and their bad behavior is going to be significant.
Read the decision and contact me with questions….these favorable decisions should be cited early and often!
Washington, D.C., February 24, 2010: Although only bankers are aware of it, there is a second wave of economic disaster starting to build up that will make the earlier one pale into insignificance. Let us start out with MERS, shall we?
MERS = Mortgage Electronic Registration Inc.holds approximately 60 million American mortgages and is a Delaware corporation whose sole shareholder is Mers Corp. MersCorp and its specified members have agreed to include the MERS corporate name on any mortgage that was executed in conjunction with any mortgage loan made by any member of MersCorp. Thus in place of the original lender being named as the mortgagee on the mortgage that is supposed to secure their loan, MERS is named as the “nominee” for the lender who actually loaned the money to the borrower. In other words MERS is really nothing more than a name that is used on the mortgage instrument in place of the actual lender. MERS’ primary function, therefore, is to act as a document custodian. MERS was created solely to simplify the process of transferring mortgages by avoiding the need to re-record liens – and pay county recorder filing fees – each time a loan is assigned. Instead, servicers record loans only once and MERS’ electronic system monitors transfers and facilitates the trading of notes. It has very conservatively estimated that as of February, 2010, over half of all new residential mortgage loans in the United States are registered with MERS and recorded in county recording offices in MERS’ name
MersCorp was created in the early 1990’s by the former C.E.O.’s of Fannie Mae, Freddie Mac, Indy Mac, Countrywide, Stewart Title Insurance and the American Land Title Association. The executives of these companies lined their pockets with billions of dollars of unearned bonuses and free stock by creating so-called mortgage backed securities using bogus mortgage loans to unqualified borrowers thereby creating a huge false demand for residential homes and thereby falsely inflating the value of those homes. MERS marketing claims that its “paperless systems fit within the legal framework of the laws of all fifty states” are now being vetted by courts and legal commentators throughout the country.
The MERS paperless system is the type of crooked rip-off scheme that is has been seen for generations past in the crooked financial world. In this present case, MERS was created in the boardrooms of the most powerful and controlling members of the American financial institutions. This gigantic scheme completely ignored long standing law of commerce relating to mortgage lending and did so for its own personal gain. That the inevitable collapse of the crooked mortgage swindles would lead to terrible national repercussions was a matter of little or no interest to the upper levels of America’s banking and financial world because the only interest of these entities was to grab the money of suckers, keep it in the form of ficticious bonuses, real estate and very large accounts in foreign banks. The effect of this system has led to catastrophic meltdown on both the American and global economy.
MERS, as has clearly been proven in many civil cases, does not hold any promissory notes of any kind. A party must have possession of a promissory note in order to have standing to enforce and/or otherwise collect a debt that is owed to another party. Given this clear-cut legal definition, MERS does not have legal standing to enforce or collect on the over 60 million mortgages it controls and no member of MERS has any standing in an American civil court.
MERS has been taken to civil courts across the country and charged with a lack of standing in reposession issues. When the mortgage debacle initially, and inevitably, began, MERS always routinely brought actions against defaulting mortgage holders purporting to represent the owners of the defaulted mortgages but once the courts discovered that MERS was only a front organization that did not hold any deed nor was aware of who or what agencies might hold a deed, they have routinely been denied in their attempts to force foreclosure. In the past, persons alleging they were officials of MERS in foreclosure motions, purported to be the holders of the mortgage, when, in fact, they not only were not the holder of the mortgage but, under a court order, could not produce the identity of the actual holder. These so-called MERS officers have usually been just employees of entities who are servicing the loan for the actual lender. MERS, it is now widely acknowledged by the courts, has no legal right to foreclose or otherwise collect debt which are evidenced by promissory notes held by someone else.
The American media routinely identifies MERS as a mortgage lender, creditor, and mortgage company, when in point of fact MERS has never loaned so much as a dollar to anyone, is not a creditor and is not a mortgage company. MERS is merely a name that is printed on mortgages, purporting to give MERS some sort of legal status, in the matter of a loan made by a completely different and almost always,a totally unknown entity.
The infamous collapse of the American housing bubble originated, in the main, with one Angelo Mozilo, CEO of the later failed Countrywide Mortgage.
Mozilo started working in his father’s butcher shop, in the Bronx, when he was ten years old. He graduated from Fordham in 1960, and that year he met David Loeb. In 1968, Mozilo and Loeb created a new mortgage company, Countrywide, together. Mozilo believed the company should make special efforts to lower the barrier for minorities and others who had been excluded from homeownership. Loeb died in 2003
In 1996, Countrywide created a new subsidiary for subprime loans.
Countrywide Financial’s former management
Angelo R. Mozilo, cofounder, chairman of the board, chief executive officer
David S. Loeb, cofounder, President and Chairman from 1969 to 2000
David Sambol, president, chief operating officer, director
Eric P. Sieracki, chief financial officer, executive managing director
Jack Schakett, executive managing director, chief operating officer
Kevin Bartlett, executive managing director, chief investment officer
Andrew Gissinger, executive managing director, chief production officer, Countrywide Home Loans[14]
Sandor E. Samuels, executive managing director, chief legal officer and assistant secretary
Ranjit Kripalani, executive managing director and president, Capital Markets
Laura K. Milleman, senior managing director, chief accounting officer
Timothy H. Wennes, senior managing director, president and chief operating officer, Countrywide Bank FSB
Anne D. McCallion, senior managing director, chief of financial operations and planning
Steve Bailey, senior managing director of loan administration, Countrywide Home Loans
The standard Countrywide procedure was to openly solicit persons who either had no credit or could not obtain it, and, by the use of false credit reports drawn up in their offices, arrange mortgages. The new home owners were barely able to meet the minimum interest only payments and when, as always happens, the mortgage payments are increased to far, far more than could be paid, defaults and repossessions were inevitable. Countrywide sold these mortgages to lower-tier banks which in turn, put them together in packages and sold them to the large American banks. These so-called “bundled mortgages” were quickly sold these major banking houses to many foreign investors with the comments that when the payments increased, so also would the income from the original mortgage. In 1996, Countrywide created a new subsidiary for subprime loans.
At one point in time, Countrywide Financial Corporation was regarded with awe in the business world. In 2003, Fortune observed that Countrywide was expected to write $400 billion in home loans and earn $1.9 billion. Countrywide’s chairman and C.E.O., Angelo Mozilo, did rather well himself. In 2003, he received nearly $33 million in compensation. By that same year, Wall Street had become addicted to home loans, which bankers used to create immensely lucrative mortgage-backed securities and, later, collateralized debt obligations, or C.D.O.s—and Countrywide was their biggest supplier. Under Mozilo’s leadership, Countrywide’s growth had been astonishing.
He was aiming to achieve a market share—thirty to forty per cent—that was far greater than anyone in the financial-services industry had ever attained. For several years, Countrywide continued to thrive. Then, inevitably, in 2007, subprime defaults began to rocket upwards , forcing the top American bankers to abandoned the mortgage-backed securities they had previously prized. It was obvious to them that the fraudulent mortgages engendered by Countrywide had been highly suceessful as a marketing program but it was obvious to eveyone concerned, at all levels, that the mortgages based entirely on false and misleading credit information were bound to eventually default. In August of 2007, the top American bankers cut off. Countrywide’s short-term funding, which seriously hindered its ability to operate, and in just a few months following this abandonment, Mozilo was forced to choose between bankruptcy or selling out to the best bidder.
In January, 2008, Bank of America announced that it would buy the company for a fraction of what Countrywide was worth at its peak. Mozilo was subsequently named a defendant in more than a hundred civil lawsuits and a target of a criminal investigation. On June 4th, 2007 the S.E.C., in a civil suit, charged Mozilo, David Sambol, and Eric Sieracki with securities fraud; Mozilo was also charged with insider trading. The complaint formalized a public indictment of Mozilo as an icon of corporate malfeasance and greed.
In essence, not only bad credit risks were used to create and sell mortgages on American homes that were essentially worthless. By grouping all of these together and selling them abroad, the banks all made huge profits. When the kissing had to stop, there were two major groups holding the financial bag. The first were the investors and the second were, not those with weak credit, but those who had excellent credit and who were able, and willing to pay off their mortgages.
Unfortunately, just as no one knows who owns the title to any home in order to foreclose, when the legitimate mortgage holder finally pays off his mortgage, or tries to sell his house, a clear title to said house or property cannot ever be found so, in essence, the innocent mortgage payer can never own or sell his house. This is a terrible economic time bomb quietly ticking away under the feet of the Bank of America and if, and when, it explodes, another bank is but a fond memory.
Readers wishing to find out if their title is secure should write to www.ChinkintheArmor.net, leave a comment on any article and ask for contact information for legal advice.
WHO Would have thunk? This is why some are in the poe house…Some of do have morals.
The Short Sales and Bank Fraud story continues to gain traction. After CNBC aired the story we brought them, dozens of other media outlets, bloggers and authorities have contacted me to discuss this topic.
Here is the story of how this fraud initially
came to our attention, along with the evidence
to back it up.
Last year, I was contacted by an experienced real estate agent in our network who negotiates many short sales. She had recorded a conversation between her and a supervisor in the loss-mitigation department at a major national lender, who she felt was trying to get her to do something illegal.
Here is the audio of that recording, along with the transcript. The names have been removed at the request of the agent to prevent backlash from the bank.
Another “BOGUS” scenario of todays reality. Watch this video and listen with disgust how they describe how one tries… yes tries to survive in todays world! Heartless souls you are to make this ridiculous video. They speak of people living in tents, make use of abandoned homes etc…Obviously Senator Mike Bennett needs to stop by this blog to witness what really is happening to the “proud happy family” who once did live there to begin with!
QUIT TREATING US LIKE GARBAGE!
How about making good use of these homes and put homeless people in there! It’s obvious the mighty $$$$ are behind this scam, They fraudulantly sell these homes for half after they foreclose…So why not just cut the priciple in HALF??? Yup Something sure is not RIGHT.
IT SURE DIDN’T STOP YOU FROM
TRESPASSING EITHER!
By ROBERT NAPPER – rnapper@bradenton.com Buzz up!
MANATEE — A mounting crisis created by the record number of foreclosures in Manatee County has hit Jeannette Traylor right where she lives: An abandoned foreclosed home has brought blight, crime and fear into her neighborhood.
For Traylor, it is becoming harder and harder each day to remember what the home used to be: a quaint three-bedroom, two-bath house nestled in a Northwest Bradenton neighborhood filled with similar homes and families living the quiet life. But the home at 5504 Fourth Ave. NW now stands out.
Lets connect this Pyramid: Erica Johnson-Seck, Roger Stotts, Dennis Kirkpatrick. The Law Offices Of David J. Stern P.A. seem to have the same players by “virtue” hereof?
“WALLSTREET is our AMERICAN TERRORTIST”
What these people have done is no different than the 9/11 acts, they did not use planes
they used our homes to destroy us financially! They are killing us s..l..o…w..l..y!
This time the government is rewarding their behavior!
WE WILL NEVER FORGET 9/11
But…I thought he is an Attorney in Fact for IndyMac above? But Now VP for MERS?
COMPARE HIS SIGNATURES
I EVEN HAVE THEM SIGNING onbehalf of the FDIC!
They are in my stash will post when I find em’.
All three together as Attorney In Fact for OnesWest
Below is a sale that happened in DC all in 1 single day! I am still trying to understand it all.
HHHmmm more investigating….
So there you have it..I can show plenty more but it will take many years truthfully to put all the documents they signed all in one room!
Quarterly Revenues Increase 44% and YTD Revenues Increase 29% Year over Year
Law Offices Of David J. Stern ESQ, P.A….
PLANTATION, Fla., Feb. 9 /PRNewswire-FirstCall/ — DJSP Enterprises, Inc. (Nasdaq: DJSP, DJSPW, DJSPU), one of the largest providers of processing services for the mortgage and real estate industries in the United States, today announced financial results for the three and nine month periods ending September 30, 2009 for its recently acquired processing operations. The operating results discussed in this press release reflect the separate operations of the acquired business for the periods presented on an adjusted basis, each of which occurred prior to the closing of the Business Combination with Chardan 2008 China Acquisition Corp on January 15, 2010.
Processing Operations Third Quarter Financial Highlights
Revenue for the quarter increased 44% to $73.0 million from $50.6 million in last year’s comparable period. For nine months, revenue increased 29% year over year to $189.8 million.
Adjusted Net income was $10.4 million in the third quarter. For the nine month period, adjusted net income was $32.4 million or $1.65* per share.
Adjusted EBITDA for the third quarter was $16.4 million, and for the nine months was $50.7 million.
*Calculated using treasury stock method assuming a common share price of $8.14; Assumes 19.62 million shares outstanding; Assumes adjusted net income for nine months ended September 30, 2009 of $32.4 million.
Subsequent to Quarter End
Chardan 2008 China Acquisition Corp. closed its business combination with DAL Group, LLC on January 15, 2010 and changed its name to DJSP Enterprises, Inc. and its NASDAQ symbols to DJSP, DJSPU and DJSPW.
Continue reading HERE (NOTE: MSN took this article down off it’s site) HMMMMMMMM I smell FISH! go to the others below!
…Are we being SCAMMED once again? New “Deed In Lieu” Program Gets Homeowners Six Months Mortgage Free And $1,000…
SHOW ME THE NOTE FIRST!
Citi recently agreed to give qualified borrowers six months in their homes before it takes them over. It will offer these homeowners $1,000 or more in relocation assistance, provided the property is in good condition. Previously, the bank had no formal process for serving borrowers who failed to qualify for Citi’s other foreclosure-avoidance programs like loan modification.
Lynn I am working on your YELLOW LAMBORGHINI… Question: What entity should I assign title to? If it is “TOTALLED” who should I vest title to after I SWAP out the VIN # onto another Car to? We can do this as many times as you like for a fee.
“This is no different to what these Banks are doing with the help of the MILLS.”
CHERYL SAMONS states in her DEPOSITION:
She is not a Paid Employee for MERS, Does not answer to ANY President, Any Supervisors…Heck she doesn’t even know where any offices are for MERS!!! BUT SHE DOES KNOW SHE IS AN ASSISTANT SECRETARY FOR MERS.
For $29.95 YOU TOO CAN STEAL…OOOPS I MEAN BUY ANY HOME or ASSIGN ANY MORTGAGE!!
Now we have Topako Love, Christina Allen & Laura Hescott MASTER PIECES!!! These belong up there with the works of Salvador Dali, Pablo Picasso, Vincent Van Gogh, Claude Monet, Erica Johnson-Seck, Roger Stotts & Dennis Kirkpatrick!
I can’t wait for DMV to allow anyone FOR A FEE to assign auto Titles too!! Or has this occurred all ready…I am too tired to check!
Bank Mortgage Foreclosure FRAUD….BOGUS ASSIGNMENTS 3…Forgery, Counterfeit, Fraud …Oh MY!
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