Missouri Wrongful Foreclosure: Trial Court Awards over $3 Million Including Punitive Damages and Quiet Title

29 Jan

Livinglies's Weblog

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see Quiet title Wrongful foreclosure Punitive Damages Missouri judgment.1-26-15.pdf ocr

Missouri had been impenetrable. Things change. This case finds that neither the GSE nor anyone else in the chain had the power to enforce the paper because they did not really have ownership of the loan, that their title was false, that quiet title is granted to plaintiffs, that foreclosure was wrongful, that compensatory damages are awarded and that punitive damages would be awarded. Total Judgment $3 million +.

Important takeaways —

  1. The tide has turned. Courts are no longer looking the other way on intentionally sloppy foreclosures that cover up a larger fraud on investors. The courts are not clear on how that occurred, partially because nobody has been allowed to present  it, but they have enough of a feel of the situation to see that there is something fundamentally…

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MERS Assignments VOID

16 Jan

Livinglies's Weblog

For further information please call 954-495-9867 or 520-405-1688

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see http://www.msfraud.org/law/lounge/mers-auroraslammed.pdf
While there are a number of cases that discuss the role of Mortgage Electronic Registration Systems (MERS), this tells the story in the shortest amount of time. MERS was only a nominee to track the off-record claims from multiple parties participating in what we call the securitization of loans. It now appears that the securitization in most cases never took place but the banks and their affiliates are foreclosing in the name of REMIC trusts anyway, relying on “presumptions” to “prove” that the Trust actually purchased and took possession of the alleged loan. In every case I know of  where the homeowner was allowed to probe deeply into the issues of whether the Trust actually received the loan, it has either been determined that the Trust didn’t own the loan, or the case was settled before the court could…

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Collaboration is the Answer: Lawyers and Consumers, Homeowners and Student Borrowers Should Join Up

26 Dec

Livinglies's Weblog

As many of you know, I am committed to being a part of the Collaborative Movement in this country.  I have been a VOICE for reformation of the Mortgage Industry and many of you have VOTED with me by sharing  information that has help us all in these trying times. While we have informal collaboration, it is time to express one voice through a collaborative movement. This can lead to both sharing litigation strategies as well as lobbying AGAINST the nearly absolute control exercised by the banks at the state and Federal level. I have spoken with Matt Weidner about this and he agrees. Some years ago we tried the American Homeowners Cooperative, but people were not up to speed on the idea that homeowners can and SHOULD be winning most of the cases.

Bank lawyers have massive teleconferences and seminars to get their message straight and so judges hear…

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Ocwen Settlement with NY AG Could Spell Doom for Servicers

23 Dec

Livinglies's Weblog

For further information please call 954-495-9867 or 520-405-1688

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The new settlement with New York’s Department of Financial Services calls for resignation of the Chairman (Erbey), payment of a $100 million fine, Payment of $50 million in restitution to borrowers who were wrongfully foreclosed, and a set of rules requiring Ocwen to help borrowers avoid foreclosure. Schneiderman, Attorney General, was prosecuting the case aggressively. This will add to the growing list of questions from judges over rotating servicers and trustees, servicing practices, robo-signing, forgery, fabrication of documents and the refusal of the foreclosing party to simply show the funding for the loan and the consideration paid for the acquisition of the loan.

Why is this important: it reflects an administrative finding that Ocwen has been wrongfully foreclosing on people from 2009 to the present. And it directs money and other assistance to homeowners who find themselves tangled in the complex…

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OneWest — One Step Up from Donald Duck

8 Dec

Livinglies's Weblog

For further information please call 954-495-9867 or 520-405-1688

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Well at least OneWest legally exists and it didn’t originate any loans even though it sometimes tries to give that appearance. But it is clear that this company was literally formed over a weekend to takeover IndyMac business. In so doing it made a number of dubious deals in which it was not to be liable for the shoddy, fabricated documents, and unlawful practices of IndyMac which claimed ownership of loans that were already sold into the secondary market and then subjected to conflicting claims of ownership. It looks like the return on investment was infinite.

OneWest Bank Targeted By Insurer Over $335M In MBS Losses

Law360, New York (August 13, 2012, 9:41 PM ET) — Assured Guaranty Municipal Corp. fired off a suit against OneWest Bank FSB in California on Thursday, claiming the company’s shoddy loan servicing…

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10 Point Checklist for Foreclosure Defense

5 Dec

Livinglies's Weblog

For further information or assistance please call 954-495-9867 or 520-405-1688

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By popular request, here is my shortlist for items to deal with in foreclosure defense or any challenge to the validity of a mortgage and note.:

  1. Original loan fabricated of faulty — the “lender” did not legally exist as an entity or there was no consideration for the original loan in the chain of loan ownership claimed by the foreclosing or collecting party.
  2. Ownership of loan not offered or proven
  3. Balance of the loan not properly computed because of servicer advances etc.
  4. Transfers of loan not supported by consideration — if there was consideration the Trust would allege it was the holder in due course.
  5. Business records were not properly presented or prepared from actual business records., Instead it was a report prepared just for trial and not in the ordinary course of business.
  6. Unclean hands because the load…

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The Truth is Coming Out: More Questions About Loan Origination, Debt, Note, Mortgage and Foreclosure

4 Dec

Livinglies's Weblog

For further assistance please call 954-495-9867 or 520-405-1688

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Carol Molloy, Esq., one of our preferred attorneys is now taking on new cases for litigation support only. This means that if you have an attorney in the jurisdiction in which your property is located, then Carol can serve in a support role framing pleadings, motions and discovery and coaching the lawyer on what to do and say in court. Carol Molloy is licensed in Tennessee and Massachusetts where she has cases in both jurisdictions in which she is the lead attorney. As part of our team she gets support from myself and others. call our numbers above to get in touch with her.

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Hat tip to our lead investigator Ken McLeod (Chandler, Az) who brought this case to my attention. It is from 2013.

see New York Department of Housing vs Deutsch

Mysteriously seemingly knowledgeable legislators passed statutes permitting…

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