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Central banks have gone rogue, putting us all at risk!

CENTRAL BANKS HAVE GONE ROGUE, PUTTING US ALL AT RISK

 

 

Excluding institutions such as Blackrock and Vanguard, which are composed of multiple investors, the largest single players in global equity markets are now thought to be central banks themselves. An estimated 30 to 40 central banks are invested in the stock market, either directly or through their investment vehicles (sovereign wealth funds). According to David Haggith at Zero Hedge:

“Central banks buying stocks are effectively nationalizing U.S. corporations just to maintain the illusion that their “recovery” plan is working. … At first, their novel entry into the stock market was only intended to rescue imperiled corporations, such as General Motors during the first plunge into the Great Recession, but recently their efforts have shifted to propping up the entire stock market via major purchases of the most healthy companies on the market.”

The U.S. Federal Reserve, which bailed out General Motors in a rescue operation in 2009, was prohibited from lending to individual companies under the Dodd-Frank Act of 2010, and it is legally barred from owning equities. It parks its reserves instead in bonds and other government-backed securities. But other countries have different rules, and central banks are now buying individual stocks as investments, with a preference for big tech companies like Amazon, Apple, Facebook and Microsoft. Those are the stocks that dominate the market, and central banks are aggressively driving up their value. Markets, including the U.S. stock market, are thus literally being rigged by foreign central banks.

The result, as noted in a January 2017 article at Zero Hedge, is that central bankers, “who create fiat money out of thin air and for whom ‘acquisition cost’ is a meaningless term, are increasingly nationalizing the equity capital markets.” Or at least they would be nationalizing equities, if they were actually “national” central banks. But the Swiss National Bank, the biggest single player in this game, is 48 percent privately owned, and most central banks have declared their independence from their governments. They march to the drums not of government but of private industry.

Marking the 10th anniversary of the 2008 collapse, former Fed Chairman Ben Bernanke and former Treasury Secretaries Timothy Geithner and Henry Paulson wrote in a Sept. 7 New York Times op-ed that the Fed’s tools needed to be broadened to allow it to fight the next anticipated economic crisis, including allowing it to prop up the stock market by buying individual stocks. To investors, propping up the stock market may seem like a good thing, but what happens when the central banks decide to sell? The Fed’s massive $4 trillion economic support is now being taken away, and other central banks are expected to follow. Their U.S. and global holdings are so large that their withdrawal from the market could trigger another global recession. That means when and how the economy will collapse is now in the hands of central bankers.

MOVING GOAL POSTS

The two most aggressive central bank players in the equity markets are the Swiss National Bank and the Bank of Japan. The goal of the Bank of Japan, which now owns 75 percent of Japanese exchange-traded funds, is evidently to stimulate growth and defy longstanding expectations of deflation. But the Swiss National Bank is acting more like a hedge fund, snatching up individual stocks because “that is where the money is.”

About 20 percent of the SNB’s reserves are in equities, and more than half of that is in U.S. equities. The SNB’s goal is said to be to counteract the global demand for Swiss francs, which has been driving up the value of the national currency, making it hard for Swiss companies to compete in international trade. The SNB does this by buying up other currencies, and because it needs to put them somewhere, it’s putting that money in stocks.

That is a reasonable explanation for the SNB’s actions, but some critics suspect it has ulterior motives. Switzerland is home to the Bank for International Settlements, the “central bankers’ bank” in Basel, where central bankers meet regularly behind closed doors. Dr. Carroll Quigley, a Georgetown history professor who claimed to be the historian of the international bankers, wrote of this institution in” Tragedy and Hope” in 1966:

“[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks, which were themselves private corporations.”

The key to their success, said Quigley, was that they would control and manipulate the money system of a nation while letting it appear to be controlled by the government. The economic and political systems of nations would be controlled not by citizens but by bankers, for the benefit of bankers. The goal was to establish an independent (privately owned or controlled) central bank in every country. Today, that goal has largely been achieved.

In a paper presented at the 14th Rhodes Forum in Greece in October 2016, Dr. Richard Werner, director of international development at the University of Southampton in the United Kingdom, argued that central banks have managed to achieve total independence from government and total lack of accountability to the people, and that they are now in the process of consolidating their powers. They control markets by creating bubbles, busts and economic chaos. He pointed to the European Central Bank, which was modeled on the disastrous earlier German central bank, the Reichsbank. The Reichsbank created deflation, hyperinflation and the chaos that helped bring Adolf Hitler to power.

The problem with the Reichsbank, said Werner, was its excessive independence and its lack of accountability to German institutions and Parliament. The founders of postwar Germany changed the new central bank’s status by significantly curtailing its independence. Werner wrote, “The Bundesbank was made accountable and subordinated to Parliament, as one would expect in a democracy. It became probably the world’s most successful central bank.”

But today’s central banks, he said, are following the disastrous Reichsbank model, involving an unprecedented concentration of power without accountability. Central banks are not held responsible for their massive policy mistakes and reckless creation of boom-bust cycles, banking crises and large-scale unemployment. Youth unemployment now exceeds 50 percent in Spain and Greece. Many central banks remain in private hands, including not only the Swiss National Bank but the Federal Reserve Bank of New York and the Italian, Greek and South African central banks.

BANKS AND CENTRAL BANKS SHOULD BE MADE PUBLIC UTILITIES

Werner’s proposed solution to this dangerous situation is to bypass both the central banks and the big international banks and decentralize power by creating and supporting local not-for-profit public banks. Ultimately, he envisions a system of local public money issued by local authorities as receipts for services rendered to the local community. Legally, he noted, 97 percent of the money supply is already just private company credit, which can be created by any company, with or without a banking license. Governments should stop issuing government bonds, he said, and instead fund their public sector credit needs through domestic banks that create money on their books (as all banks have the power to do). These banks could offer more competitive rates than the bond markets and could stimulate the local economy with injections of new money. They could also put the big bond underwriting firms that feed on the national debt out of business.

Abolishing the central banks is one possibility, but if they were recaptured as public utilities, they could serve some useful purposes. A central bank dedicated to the service of the public could act as an unlimited source of liquidity for a system of public banks, eliminating bank runs since the central bank cannot go bankrupt. It could also fix the looming problem of an unrepayable federal debt, and it could generate “quantitative easing for the people,” which could be used to fund infrastructure, low-interest loans to cities and states, and other public services.

The ability to nationalize companies by buying them with money created on the central bank’s books could also be a useful public tool. The next time the mega-banks collapse, rather than bailing them out, they could be nationalized and their debts paid off with central bank-generated money.

There are other possibilities. Former Assistant Treasury Secretary Paul Craig Roberts argues that we should also nationalize the media and the armaments industry. Researchers at the Democracy Collaborative have suggested nationalizing the large fossil fuel companies by simply purchasing them with Fed-generated funds. In a September 2018 policy paper titled “Taking Climate Action to the Next Level,” the researchers wrote, “This action might represent our best chance to gain time and unlock a rapid but orderly energy transition, where wealth and benefits are no longer centralized in growth-oriented, undemocratic, and ethically dubious corporations, such as ExxonMobil and Chevron.”

Critics will say this would result in hyperinflation, but an argument can be made that it wouldn’t. That argument will have to wait for another article, but the point here is that massive central bank interventions that were thought to be impossible in the 20th century are now being implemented in the 21st, and they are being done by independent central banks controlled by an international banking cartel. It is time to curb central bank independence. If their powerful tools are going to be put to work, it should be in the service of the public and the economy.

WED, 9/19/2018 – BY ELLEN BROWN
THIS ARTICLE ORIGINALLY APPEARED ON TRUTHDIG

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I welcome those reading my blog. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

Does this sound about right….

Does this sound about right….

This following is one of the most common stories throughout the United States that you will hear when discussing someone's personal foreclosure story .

“… all of this started with the servicer telling us to stop payments to make sure we would be in a better position for a modification.  We were current on our mortgage, however, were discussing our personal financial issues that we saw coming up on the horizon for us that concerned us and we were trying to make arrangements.”  The servicer tells a homeowner to go behind if they wish to obtain any government sponsored relief.  Homeowner goes behind and is now in default.  A judicial foreclosure or a non-judicial foreclosure begins.

The Servicer immediately cashes a credit default swap for some percentage of the mortgage balance and has some split with the investor.  Then they send 10 or 15 sets of mortgage modification applications to the homeowner and collect payments of $300 ea under their HAMP servicing agreement with the fed.  Then they offer a trial modification to the homeowner and promise that it will convert to a permanent mod if the homeowner makes all of their payments on time.  The bank loses the paperwork 3 or 4 times and charges the fed each time they process a new application and charges the fed again for sending the 3 new applicatons to the homeowner.  Less than 3% of the time. the homeowner is approved for the temporary modification and starts paying the narrowly reduced payments while the servicer dual tracks the homeowner for foreclosure and hires LPS, the parent company to LSI Title to file some fraudulent assignments in the name of the deceased bank the servicer bought the servicing rights from (countrywide, world savings, indymac, whoever).

The servicer shoplifts the temporary payments while the homeowner thinks they are going to the MBS towards P&I thus putting the homeowner further behind and fucking their own MBS investor. The servicer gets paid a fee by the fed for servicing the temporary mod under their HAMP servicing agreement. The servicer denies the modification and forecloses on the property and collects a fee from the investor for servicing the foreclosure and collects an 80% FDIC loss share payment from the FDIC which it splits with the investor. The house is sold, and as in our case to a company that buys foreclosure properties in bulk for less that their retail value which is done to manipulate the real estate market, and the investor recovers the reo value less the banks reo sale fee.  The company that buys the foreclosed property works with the servicers in order to manipulate the market as a whole.  The Non Judicial foreclosure process is a fast food style of law where the Unlawful Detainers get stream lined and rubber stamped by the Judges because the Judges are making a profit on each property in the process as a percentage to look away.

The only reason any of this could take place is due to the fact that the Legislation changed the Servicing powers and the ability to transfer the Trusteeship of the Deed of Trust.  The Registrars and everyone else mistook this legislation to mean that the Trustees can be reassigned by the Beneficiary or Servicer and possess the rights of the primary Trustee named on the Deed of Trust that was originally signed by all parties.

The illegal government rubber-stamped dismantling of the middle class. How can you ever stop a ruling class from doing something that is this lucrative???

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

I had a dream

I had a dream.  In my dream, last night, sometime in the near future prior to the November mid term elections, there were two Russian fighter jets that were downed by the Royal Saudi Air Force(RSAF).  The Saudi’s F15’s out maneuvered the Russian MIG pilots, as if they were sitting still.  Or at least, that is the story that was put into the international press loop.  Let’s just state that the result did not fair thee well.

Vladimir Putin calculated the timing of this military exercise because he realized that he would not be able to corrupt the mid term elections enough to overthrow the democratic dominance for the congressional seats.  He knew he could hold the Senate, but in order to control the election process enough to turn the Congress he would have shown his hand substantially.  He and his American administration would have been too exposed.  So, before the Congress gets swayed from the GOP to the Democratic majority, he decided to make his move.

Putin has been wanting to put an end to the United Nations for quite some time.  America’s global dominance through this tool has been a bane to his existence for quite some time.  A slap in the face, so to speak from the world at large, at every turn for Putin.  Nearly, one year ago to the day, he chided the U.N. by skipping Trump’s first General Assembly meeting to watch massive war games near NATO’s eastern border.  Since then we have seen the results of Russian involvement in Syria, as well as, the United States involvement in Syria and the slaughter of thousands of innocent civilians.

In 2013, the USAF tendered an offer for security services to protect the Saudi air force from cyberwarfare attacks.  Despite this, it seems that Trump’s allegiance to Putin is stronger and declined to get involved in the current skirmish.

Russia invades Saudia Arabia using nuclear weapons.  Saudi’s respond in kind.  Despite this, it seems that Trump’s allegiance to Putin is stronger and declined to get involved.  The U.N. breaks up due to the lack of support from U.S. to its ally.  There is now global chaos in the markets.  The Middle Eastern countries began to scramble trying to create new relationships due to the exclusionary policy of the United States and their lack of follow through to long held alliances.

Putin also shut down the power grid in rolling black outs throughout the United States showing that he now has full access to disrupt the world’s most powerful country.  Internal chaos ensues throughout the United States.

World War iii begins.

 

 

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

Adverse Possession v Cancellation and Quiet Title

Adverse Possession vs Cancellation of Instrument and Quiet Title

In the final analysis, the only way to smoke out the banks on their fraudulent claims as “creditors” or “agents of creditors” is to create a situation where the creditor must be disclosed. In those cases where judges have ruled in discovery or ruled on the right to prepay, subject to identification of the creditor, the cases have all settled under seal of confidentiality. There are thousands of such cases buried under side agreements requiring “Confidentiality.”

I have been seeing a number of people adding Adverse Possession to their theories about Quieting title. So let me say first that an order granting quiet title to a homeowner whose title is encumbered by a recorded mortgage or deed of trust is practically impossible not only because judges don’t want to grant it, but for the more important reason that quiet title is not legally sound strategy for homeowners seeking defend their homes from foreclosure.

In order to quiet title, one would need to allege and prove by clear and convincing evidence that the mortgage or deed of trust should never have been executed or recorded in the first place. Anything less than that does not deserve quiet title declaration from any court. The fact that a certain party purports to have authority to enforce the mortgage or deed of trust when in fact they don’t have such authority is damn good reason not to let them enforce the mortgage or deed of trust. But that does not mean that the instrument is void.

Here is the response I gave to a question about adverse possession:

Adverse possession does not seem to apply to this situation. But it is possible that you could get traction by filing a lawsuit to cancel the DOT (Cancellation of Instrument) and maybe even get a order quieting title to your name. This is not simple and the requirements and elements of such claims are difficult to fulfill.

Adverse possession is usually utilized in boundary disputes.

A mortgage or a deed of trust is an interest in real property. And where we are dealing with the deed of trust,The trustee is receiving title to the property. So technically you are probably correct. But when you look deeper, You will see that adverse possession does not apply.

The transfer of title to a trustee under the deed of trust divests the homeowner of title. Under the terms of the DOT you are entitled to live there and act, for all purposes, as though you are the title owner including in a foreclosure proceeding. Hence several elements of adverse possession are not met especially “adverse,” since you have express permission under a contract to be there and to act as the title owner.

ELEMENTS OF ADVERSE POSSESSION: (NOTE — the “title owner is the DOT trustee)

  • Continuous
  • Open
  • Notorious
  • Peaceful, Peaceable
  • Hostile (claiming title against the interest of the party who actually has title)
  • Adverse (no permission or contractual right to assert title against the party who is seized with title).
  • Exclusive (barring claims or use by the actual title owner
  • Visible (putting a fence on your neighbor’s yard, ignoring the property line)
  • Actual (not implied)

But the fact that the DOT conveyed title to a real trustee on behalf of a false beneficiary is probably the basis for a lawsuit to cancel the instrument (if you can prove your allegations) and then get an order declaring the title is quieted, free from the encumbrance of record that is declared by the judge to be void.

You need to be careful though about your conclusion that the DOT was void. This involves several factual questions that are not obvious. Even a void instrument could conceivably be valid if it contains a defect that is corrected or could be corrected by affidavit pursuant to local law.

Your argument would be that no such affidavit was ever offered. Thus even after you filed your lawsuit, they failed or refused to make any corrections.

Their argument will circle around third party beneficiary, “standing,” and the fact that SOME party could enforce it if they could show that they were the intended beneficiary despite the recitation on the face of the DOT.

This is not the basis for a simple legal argument. Each side must allege and prove their factual (what happened, when, where, who was involved and why) allegations by at least a preponderance of the evidence and most probably, legal or not, the homeowner would be held to a higher standard of clear and convincing evidence informally or formally because the recorded documents carry a “presumption” of authenticity and validity that the homeowner must overcome.

Academically speaking such claims are well-founded. But in practice judges look at such claims as gimmicks to get around a legitimate debt. In order to combat that we must figure out a way to bring in a party who has a legitimate claim to represent the unknown and undisclosed creditors.

The banks have successfully cast the money trail in obscurity. The banks are committing fraud with each foreclosure in my opinion and in the opinion of everyone else I know that has analyzed the securitization of mortgage debt. But they have made it appear that there is nobody other than the bank’s pet entities (the so-called trusts) to play the role of creditor.

N. Garfield

 

 

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

Certified Forensic Loan Securitization Analyst

I am happy to announce my certification as a Mortgage Securitization Auditor.  I have been helping people with this type of information for a few years now by passing them on to Bloomberg forensic mortgage securitization auditors I know.  I decided to educate myself to this procedure and am very grateful that I put myself through that learning curve.  Being a Mortgage Securitization Auditor allows me to complete a Bloomberg Forensic Loan Securitization audit for lawyers or their clients, property owners, and those who might be in litigation against the illegal foreclosure of their property and are trying to prove lack of standing, the void or voidable condition of their note, filing for quiet title, and much more.

Our report will include the following:

  • Loan Recording at county, governmental housing reporting agencies and financial reporting services
  • Deed Recording and Transfers
  • Verification that Assignees on Promissory Note is True and Correct
  • Information Identifying “True” beneficial Interest as per Promissory Note
  • Disclosures and Sufficiency of Information as per UCC
  • Securitized Trust Verification
  • Pooling and Servicing Agreement governing the Trust that holds your Note
  • CUSIP – Identifying the Trust Account
  • Trust Prospectus filed with the Securities and Exchange Commission
  • Identification of the Servicers; Originators; Trustees and Underwriters
  • Details of Bond Performance – Transactional up-to-date information
  • Periodic Reporting of Loan Performance in Securitized Trust
  • Client Specific Information – (special requests)

We use a private Bloomberg terminal for the latest search for Non-Agency residential loans by characteristic. Either Loan Number or Original Amount that are provided to perform a search to verify that the loan is inside the Securitized Trust.

Have a look at our sample Bloomberg securitization audit and see the depth of research our audits have compared to other firms. – Sample – Level-III-Securitization-Analysis

With our audits you get much more than just a Bloomberg Securitization Audit.  We work with a staff of expert lawyers who also help us draft you a legal complaint that can be used in any court in the country, to include state and federal jurisdictions. –  Sample –   Complaint-Petition

Bloomberg Securitization Audit

Our Bloomberg securitization audit is one many attorneys request. This type of audit is among the first important steps in determining the securitization of a loan and by whom.  A Bloomberg securitization audit can be a vital tool in an attorney’s or homeowner’s foreclosure defense and litigation brought against lenders. Call us today to talk about your needs.

For more information on Mortgage Securitization audits:

60 Minutes – Mortgage Securitization  Auditor – Forensic Loan Audit

 

 

Testimonials –  (from clients of my associates)

To begin, I bought your securitization audit after I had lost in state court in a foreclosure-10/27/14. Thinking there was no hope I found Certified Forensic and decided to try a securitization audit in order to have evidence of fraud in a filing with the Federal Court in New Jersey. I ended up in discovery in Federal Court. As you may remember part of discovery was a deposition taken by Chase of Michael Carrigan. I filed before Final Judgment in Federal Court on 04/10/15 with a securitization audit from Certified as evidence of fraud.To my surprise after a ruling for Chase in a summary judgement on 10/27/2014 -and going on four years later- on February 1, 2018 Chase unilaterally dismissed my state foreclosure case without any notice or discussions. I used most of the legal package from Certified. I did have people with some experience I could discuss the case with, and I had an expert witness which is also very helpful. William Paatalo is one of my expert witnesses. Bill knows the game well and he has testified around the country against the banks. It could only have happened because of the discovery in Federal Court which provided me with more evidence of fraud. This evidence could only have been gotten from discovery. And therefore the securitization audit was critical to my success in getting into discovery in Federal Court. Although I must caution there were others with the securitization audits that were not so successful so a securitization audit does not guarantee anything but in my opinion it puts you in the race. You need good legal advice and lots of reading and research with a lot of luck. I do think the odds are improving today as people are educating themselves. There are success stories. Its a long road home but the odds are getting better in my opinion. This may qualify me as a qualified success story for your firm since the state court dismissal could only have happened if I had not filed in Federal Court which brought me to discovery. Discovery gave me the evidence of fraud that I turned around and used in a Motion to Dismiss for Certification fraud in state court. The battle rages on. And there are more defeats than wins but there is hope. Many people have no idea that even after all these years there are options open to them. Chase tried to claim statue of limitation but there is no statue of limitation if you find fraud.”
James Farah

 

My wife and I would like to thank you for the wonderful work you’ve done submitting the loan modification to ocwen on our behalf, we have been wrestling with them for so long and we were getting nowhere and in fear of losing our home. After you suggested I called them to find out what the status of our loan modification was, they told us over the phone that we were eligible for a Sam [Shared Appreciation Modification) they reduced our principle from $736,579.75 to $513,950.00 our interest rate went from 4.25% to 2.00% our monthly mortgage payment went from $3467.83 interest only to $2354.82 principle interest taxes and insurance included, our interest only loan was changed to a 22‐year conventional fixed rate loan at 2.00%. This is good news, we could not be more grateful for the work you put into the modification. In addition; the difference between the original principle including penalties and interest and the new principal balance of $513,950 was $476,732.99 which they agreed to waive off 1/3 of that amount each year for three years as long as I remain current on my payments, at the end of that time the debt would not exist. They also told me that notification had gone out to their attorneys to stop the foreclosure proceedings, which was pending a sale date as you know. My wife and l are still in shock we wanted to see everything in writing and they told me over the phone tracking indicated that the package had been delivered to my address and it was already in the mailbox. I’m sending you copies of everything for you to look over. This was a great deal you got us, Steven, there’s more I can’t put in writing. Well done. This is a big step for us to be able to stay in our home.”
Anthony and Karen Boone

 

“Thank you for the support over the years. We just beat the bank in court to save house and prevent eviction. Their case was denied.”
Jeff Castillo

 

 

What Good Are the Reports and Analyses?

If you have a medical problem do you want just one doctor to look at your lab results or a team of doctors each doing their own analysis? The same question applies if you are heading into litigation. The problem for homeowners is that having a deep bench of professionals costs money. That is the way our system works, for better or worse.

Let us help your plan for trial and help you or your attorney draft your foreclosure defense strategy, discovery requests and defense narrative.

THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

Today I was copied on an email sent by a client who was frustrated by having to pay his attorney to do his own analysis of the status of the loan and litigation in addition to reports by my staff and myself. The client regarded the work done by the lawyer as the same as reports done by forensic analysts, and the same as the work that I do at my firm.

Here is my answer:

The lawyer is doing something else entirely — making strategic and tactical decisions that will result in a homeowner winning the case — not just being “right.” The lawyer not only uses his unique knowledge of local laws, rules and procedures, he/she will only pursue those issues, claims and defenses that have the highest likelihood for traction and the lawyer makes the difficult decision of selecting 2-3 issues out of dozens because he knows the local bar and can make the best judgment on which tip to put at the end of the spear.

The “bench” for the financial industry is very deep involving as many as 20 people, most of whom are not seen by you because they want it to appear as a “standard foreclosure.” You need to understand that because of finances you are limiting your bench to one person (a lawyer or consultant) when what you need is a full bench.

For your lawyer to use any specific strategy or tactic he/she needs to believe in it. If not, it will not play well in the courtroom even on motions. If the lawyer wants to do further analysis to bring himself/herself up to that level of confidence then that is what it costs. If the lawyer is satisfied to direct the work of Bill Paatalo or myself to provide “second sight”, then that is what should happen.

The Justice system is based upon rationing out decision making where there is a dispute. It boils down to a vetting process based upon available resources. In other words it is about money. Lawyers, forensic analysts, and consultants, have spent years, even decades accumulating knowledge, skill and intuition. They have a right to get paid for that when it is applied to your benefit.

In an event like the past and current tidal wave of foreclosures based upon questionable and fraudulent business practices sometimes law enforcement gets involved; but the real benefit of winning and stopping the foreclosure can only be achieved through direct action by the homeowner and not some agency. That takes money from people who were wiped out by Wall Street banks who are propped up by an executive branch and legislative branch that not only doesn’t help homeowners but actually pass and enforce laws directly opposite to the legitimate interests of homeowners.

The system, particularly nonjudicial foreclosure, is rigged to favor devious parties who use fraud as their business plan. They have very deep pockets. For a homeowner who wants to win a case, the homeowner must be willing to commit resources required by the effort. Each professional has their own contribution to make, if you let them. Even if they are performing what appears to be identical work you will get a better decision based upon better interpretation.     ~    A.P. Lehman, JD

 

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

Amended August 17, 2018 – AB 354 Institutional investors (see the fine print)

Amended August 17,2018 – AB-354 Institutional investors: housing.(2017-2018)

(SEE THE FINE PRINT IN BLUE BELOW)

Date Published: 08/17/2018 12:10 PM

 

AMENDED  IN  SENATE  AUGUST 17, 2018

AMENDED  IN  SENATE  JUNE 26, 2018

AMENDED  IN  SENATE  JULY 03, 2017

AMENDED  IN  ASSEMBLY  MAY 01, 2017

AMENDED  IN  ASSEMBLY  APRIL 18, 2017

AMENDED  IN  ASSEMBLY  MARCH 28, 2017

 

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

ASSEMBLY BILL

No. 354


 

Introduced by Assembly Member Calderon


February 08, 2017

 


An act to add Division 21 (commencing with Section 60000) to the Financial Code, relating to housing investors.

LEGISLATIVE COUNSEL’S DIGEST

AB 354, as amended, Calderon. Institutional investors: housing.

Existing law establishes the Department of Business Oversight within the Business, Consumer Services, and Housing Agency.

Existing law, the Economic Revitalization Act, establishes the Governor’s Office of Business and Economic Development, also known as GO-Biz, under the control of a director. Existing law requires GO-Biz to serve the Governor as the lead entity for economic strategy and authorizes it to undertake specified activities, including marketing business and investment opportunities in California by working in partnership with local, regional, federal, and other state public and private institutions.

This bill would require an institutional investor, as defined, to register by July 1, 2019, and annually thereafter, with the Department of Business Oversight by providing a statement containing certain information, including, among other things, the total number of single-family homes in the state that are owned by the institutional investor, including the number owned in each county, and the number occupied by renters throughout the state, and in each county. The bill would authorize the department to charge a reasonable fee to process the registration. The bill would require the department to submit a report to the Legislature by July 1, 2020, and annually thereafter, regarding the information collected from institutional investors during the prior calendar year pursuant to the provisions of this bill.

Vote: majority   Appropriation: no   Fiscal Committee: yes   Local Program: no  


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

SECTION 1.

Division 21 (commencing with Section 60000) is added to the Financial Code, to read:

DIVISION 21. Institutional Investors

60000.

(a) An institutional investor shall register by July 1, 2019, and annually thereafter, with the department by providing the Department of Business Oversight with a written statement of all of the following for the prior calendar year: 

(1) The total number of single-family homes in the state that are owned by the institutional investor, including the number that are owned in each county, and the number that are occupied by renters throughout the state, and in each county.

(2) The total number of single-family homes in the state annually purchased by the institutional investor.

(3) The total number of offers to purchase single-family homes in the state made by the institutional investor.

(4) The total dollar value of single-family homes owned by the institutional investor in the state and the total dollar value of single-family homes owned by the institutional investor that are occupied by renters.

(5) The total number of single-family homes that are sold to existing tenants.

(b) The department may charge a reasonable fee to administer the registration required pursuant to subdivision (a).

(c) For purposes of this section, “institutional investor” means a publicly traded company or corporation that owns more than 100 single-family homes in the state during a calendar year that are occupied by renters and that have a total value of more than ten million dollars ($10,000,000). An institutional investor may use an automated valuation model to estimate the value of homes it owns for purposes of determining whether the ten-million-dollar ($10,000,000) threshold required by this subdivision is met.An institutional investor does not include a lienholder that acquires ownership of a single-family home through a judicial or nonjudicial foreclosure.

(d) For purposes of this section, “single-family home” means a home that is alienable separate from the title to any other dwelling unit or is a subdivided interest in a subdivision. 

(e) (1) Notwithstanding Section 10231.5 of the Government Code, the department shall submit a report to the Legislature by July 1, 2020, and annually thereafter, regarding the information collected pursuant to subdivision (a) during the prior calendar year.

(2) A report required to be submitted pursuant to this subdivision shall be submitted in compliance with Section 9795 of the Government Code.

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NOTE FROM MyCourtHistory:

The problem we have here is something that was part and parcel of my litigation against Wells Fargo.  In an illegal Unlawful Detainer ( which all of them are in the state of CA), a large part of the fraud against the court is the institutional investor groups that are in collusion with the illegal trustees, that pay off the corrupt judges.

Part of litigation strategy I used in my case was to file a Lis Pendens against the property upon receipt of the Unlawful Detainer claim against me, the property owner.   What this action does is place into the public record of a legal action, or an encumbrance, against the property.  This creates the line of litigation directly on to the person who then purchases the property in a Trustee Sale.  The new owner will become part and parcel of the open litigation.  They are unable to use the property, to take over the property, to claim right to the property until the open litigation is complete.  The new owner purchases any and all encumbrances against the property.

This tactic is used to keep most people from buying properties that are in litigation.  Therefore, it is a tactic used to stave off a Trustee Sale.  Any and all parties that are part and parcel of the Trustee Sale become part and parcel to the litigation by the property owner adding that party to the lawsuit as a DOES.  This is not what most homeowners wish to participate in, and it is not a very sound business strategy for institutional investors to buy properties in litigation.

Usually, the argument by the buyer would be that they were unaware of the litigation.  They will lay claim to the fact that they are Bone Fide purchasers.  This term is used do to the leniency the court offers non-institutional home purchasers.  Therefore, I found this new amended version of this bill quite troubling.  The legislation has just eliminated the institutional buyer from the overall protections allotted using the filing of a lis pendens.

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved