Saturday, July 10, 2010
Friday, July 9, 2010
Thursday, July 8, 2010
Tuesday, July 6, 2010
WHAT EVERY PERSON IN THE U.S.A. WITH A MORTGAGE SHOULD KNOW AND UNDERSTAND
FROM JSMINESET.COM
Jim’s Mailbox
Posted: Jul 06 2010 By: Jim Sinclair Post Edited: July 6, 2010 at 7:43 pm
Filed under: Jim's Mailbox
Dear Jim,
Allow me to chime in here and bolster your comments to CIGA Arlen.
First and foremost, what your readers need to understand is that no one who has a loan secured by a mortgage on his home is safe. Mortgage servicing companies, including Wells Fargo Bank, CitiBank, JPMorgan Chase, and Bank of America, etc. control everything. This is why, as banks, mortgage companies, and hedge funds began to fold, beginning with the Mortgage Meltdown in 2007, the acquisition of mortgage servicing rights was the name of the game.
Regardless of whether Fannie Mae, Freddie Mac or a securitized Trust Fund purportedly “owns” your loan, the Servicer controls your destiny. Back in 1995, I first started seeing Servicers manufacture a default on a current loan and institute a foreclosure action even though the consumer had made every payment on time. Once this process begins, it is virtually impossible for the consumer to straighten out the problem and get back on track. This is because the Servicer’s policies, procedures and technologies are set up to automatically trigger a series of unstoppable events once there is the slightest deviation e.g., an increase in your interest rate on an Adjustable Rate Note, an increase in escrow items, a late payment, or bankruptcy.
Through the mortgage auditing work that I have been doing since 1991, and particularly with all of the expert report writing I have been doing over the past two years analyzing the securitization of these residential mortgage transactions, I can tell you with certainty that even though the noise has quieted down since the bailout, the house of cards is crashing down at lightning speed.
I subscribe to the Bloomberg Terminal to research whether or not my client’s loan is in a particular securitization trust which is tremendously helpful. For example, an attorney I am working closely with here in Massachusetts has a client who was facing a foreclosure sale date of July 15th. The foreclosing entity was Deutsche Bank National Trust Company as Trustee of the IndyMac INDA 2005-AR1 Mortgage Loan Trust-AR1. Using Bloomberg, I was able to establish that the loan in question is not being tracked as an asset of the Trust. I wrote an expert report laying out the fraud; the foreclosure was canceled; and now the foreclosing law firm is begging the attorney I am working for not to sue them.
There is so much fraud throughout the system that it is unimaginable. We are now living in a criminal culture where the Banksters are running the show with impunity. Virtually every subprime securitization I have audited is suffering default rates between 20% to 57% of the entire portfolio. Each of these securitizations is a Ponzi scheme. There was never going to be enough money in the system to return the investors’ principal. Those in the know (spell that SERVICERS) knew these loans were designed to fail and purchased credit default swaps and other derivatives to short the deals.
This is why Jim says to Arlen below:
2. Yesterday, I sent you a list of the bailouts on which a major mortgage service company received one billion dollars.
3. If the servicer was simply a mortgage service company middle man how did it lose so much money as to need a one billion dollar bailout.
The only credible explanation as to why Deutsche Bank (a Trustee for 1900 securitization Trusts) and mortgage Servicing companies such as those Jim refers to would be receiving bailouts is if they were being paid on their credit default swaps.
It is clear for me to see through my use of the Bloomberg Terminal that the mortgage servicing industry is squeezing the last bit of liquidity out of the market. At these double-digit default rates, with a 50% severity loss rate, most of these Trusts will be wiped out by 2014.
In historical terms, I think of this as The Civil War, and it won’t be long before we see the Carpetbaggers and Scalawags (the debt buyers and junk-yard dogs, etc.) coming around to pick up the pieces.
I can also tell you that 90% of the foreclosures are illegal and fraudulent and could be stopped if consumers had the right analyst and attorney working together. The problem here is that the scheme has stripped homeowners of their cash, savings, and assets in the process.
Well, I could go on but I shall leave you with these thoughts to mull over.
My best advice to CIGAs: follow Jim’s advice and hunker down. Gold is the most stable repository of real wealth that civilized society has ever known. The dollars that have been created through the financialization of our economy via derivatives trading is totally unsustainable. Perception drives the market and when the world learns too late that that super-hyper-inflation of our currency will render it worthless, perhaps this madness will stop.
Kindest regards,
CIGA Marie
Marie McDonnell, CFE
Truth In Lending Audit & Recovery Services, LLC
Mortgage Fraud and Forensic Analyst
Certified Fraud Examiner
Marie.McDonnell@truthinlending.net
P.O. Box 2760, Orleans, MA 02653
Tel. (508) 255-8829 Fax (508) 255-9626
Jim’s Mailbox
Posted: Jul 06 2010 By: Jim Sinclair Post Edited: July 6, 2010 at 7:43 pm
Filed under: Jim's Mailbox
Dear Jim,
Allow me to chime in here and bolster your comments to CIGA Arlen.
First and foremost, what your readers need to understand is that no one who has a loan secured by a mortgage on his home is safe. Mortgage servicing companies, including Wells Fargo Bank, CitiBank, JPMorgan Chase, and Bank of America, etc. control everything. This is why, as banks, mortgage companies, and hedge funds began to fold, beginning with the Mortgage Meltdown in 2007, the acquisition of mortgage servicing rights was the name of the game.
Regardless of whether Fannie Mae, Freddie Mac or a securitized Trust Fund purportedly “owns” your loan, the Servicer controls your destiny. Back in 1995, I first started seeing Servicers manufacture a default on a current loan and institute a foreclosure action even though the consumer had made every payment on time. Once this process begins, it is virtually impossible for the consumer to straighten out the problem and get back on track. This is because the Servicer’s policies, procedures and technologies are set up to automatically trigger a series of unstoppable events once there is the slightest deviation e.g., an increase in your interest rate on an Adjustable Rate Note, an increase in escrow items, a late payment, or bankruptcy.
Through the mortgage auditing work that I have been doing since 1991, and particularly with all of the expert report writing I have been doing over the past two years analyzing the securitization of these residential mortgage transactions, I can tell you with certainty that even though the noise has quieted down since the bailout, the house of cards is crashing down at lightning speed.
I subscribe to the Bloomberg Terminal to research whether or not my client’s loan is in a particular securitization trust which is tremendously helpful. For example, an attorney I am working closely with here in Massachusetts has a client who was facing a foreclosure sale date of July 15th. The foreclosing entity was Deutsche Bank National Trust Company as Trustee of the IndyMac INDA 2005-AR1 Mortgage Loan Trust-AR1. Using Bloomberg, I was able to establish that the loan in question is not being tracked as an asset of the Trust. I wrote an expert report laying out the fraud; the foreclosure was canceled; and now the foreclosing law firm is begging the attorney I am working for not to sue them.
There is so much fraud throughout the system that it is unimaginable. We are now living in a criminal culture where the Banksters are running the show with impunity. Virtually every subprime securitization I have audited is suffering default rates between 20% to 57% of the entire portfolio. Each of these securitizations is a Ponzi scheme. There was never going to be enough money in the system to return the investors’ principal. Those in the know (spell that SERVICERS) knew these loans were designed to fail and purchased credit default swaps and other derivatives to short the deals.
This is why Jim says to Arlen below:
2. Yesterday, I sent you a list of the bailouts on which a major mortgage service company received one billion dollars.
3. If the servicer was simply a mortgage service company middle man how did it lose so much money as to need a one billion dollar bailout.
The only credible explanation as to why Deutsche Bank (a Trustee for 1900 securitization Trusts) and mortgage Servicing companies such as those Jim refers to would be receiving bailouts is if they were being paid on their credit default swaps.
It is clear for me to see through my use of the Bloomberg Terminal that the mortgage servicing industry is squeezing the last bit of liquidity out of the market. At these double-digit default rates, with a 50% severity loss rate, most of these Trusts will be wiped out by 2014.
In historical terms, I think of this as The Civil War, and it won’t be long before we see the Carpetbaggers and Scalawags (the debt buyers and junk-yard dogs, etc.) coming around to pick up the pieces.
I can also tell you that 90% of the foreclosures are illegal and fraudulent and could be stopped if consumers had the right analyst and attorney working together. The problem here is that the scheme has stripped homeowners of their cash, savings, and assets in the process.
Well, I could go on but I shall leave you with these thoughts to mull over.
My best advice to CIGAs: follow Jim’s advice and hunker down. Gold is the most stable repository of real wealth that civilized society has ever known. The dollars that have been created through the financialization of our economy via derivatives trading is totally unsustainable. Perception drives the market and when the world learns too late that that super-hyper-inflation of our currency will render it worthless, perhaps this madness will stop.
Kindest regards,
CIGA Marie
Marie McDonnell, CFE
Truth In Lending Audit & Recovery Services, LLC
Mortgage Fraud and Forensic Analyst
Certified Fraud Examiner
Marie.McDonnell@truthinlending.net
P.O. Box 2760, Orleans, MA 02653
Tel. (508) 255-8829 Fax (508) 255-9626
SOME GUN HISTORY...CREDIT TO GOLDMELTER
A LITTLE GUN HISTORY
In 1929, the Soviet Union established gun control. From 1929 to 1953, about 20
million dissidents, unable to defend themselves, were rounded up and exterminated.
In 1911, Turkey established gun control. From 1915 to 1917, 1.5 million Armenians,
unable to defend themselves, were rounded up and exterminated.
Germany established gun control in 1938 and from 1939 to 1945, a total of 13
million Jews and others who were unable to defend themselves
were rounded up and exterminated.
China established gun control in 1935. From 1948 to 1952, 20 million political
dissidents, unable to defend themselves, were rounded up and exterminated
Guatemala established gun control in 1964. From 1964 to 1981, 100,000 Mayan Indians,
unable to defend themselves, were rounded up and exterminated.
Uganda established gun control in 1970. From 1971 to 1979, 300,000 Christians,
unable to defend themselves, were rounded up and exterminated.
Cambodia established gun control in 1956. From 1975 to 1977, one million educated
people, unable to defend themselves, were rounded up and exterminated.
Defenseless people rounded up and exterminated in the 20th Century because of
gun control: 56 million.
You won't see this data on the US evening news, or hear politicians disseminating this information.
Guns in the hands of honest citizens save lives and
property and, yes, gun-control laws adversely
affect only the law-abiding citizens.
Take note my fellow Americans, before it's too late!
The next time someone talks in favor of gun control, please remind them of this history lesson.
With guns, we are 'citizens'. Without them, we are 'subjects'.
During WWII the Japanese decided not to invade America because they knew most Americans were ARMED!
If you value your freedom, please spread this
anti gun-control message to all of your friends.
The purpose of fighting is to win.
There is no possible victory in defense.
The sword is more important than the shield,
and skill is more important than either.
The final weapon is the brain.
All else is supplemental.
SWITZERLAND ISSUES EVERY HOUSEHOLD A GUN!
SWITZERLAND'S GOVERNMENT TRAINS EVERY
ADULT THEY ISSUE A RIFLE.
SWITZERLAND HAS THE LOWEST GUN RELATED
CRIME RATE OF ANY CIVILIZED COUNTRY IN THE WORLD!!!
IT'S A NO BRAINER!
DON'T LET OUR GOVERNMENT WASTE MILLIONS
OF OUR TAX DOLLARS IN AN EFFORT TO MAKE ALL
LAW ABIDING CITIZENS AN EASY TARGET.
In 1929, the Soviet Union established gun control. From 1929 to 1953, about 20
million dissidents, unable to defend themselves, were rounded up and exterminated.
In 1911, Turkey established gun control. From 1915 to 1917, 1.5 million Armenians,
unable to defend themselves, were rounded up and exterminated.
Germany established gun control in 1938 and from 1939 to 1945, a total of 13
million Jews and others who were unable to defend themselves
were rounded up and exterminated.
China established gun control in 1935. From 1948 to 1952, 20 million political
dissidents, unable to defend themselves, were rounded up and exterminated
Guatemala established gun control in 1964. From 1964 to 1981, 100,000 Mayan Indians,
unable to defend themselves, were rounded up and exterminated.
Uganda established gun control in 1970. From 1971 to 1979, 300,000 Christians,
unable to defend themselves, were rounded up and exterminated.
Cambodia established gun control in 1956. From 1975 to 1977, one million educated
people, unable to defend themselves, were rounded up and exterminated.
Defenseless people rounded up and exterminated in the 20th Century because of
gun control: 56 million.
You won't see this data on the US evening news, or hear politicians disseminating this information.
Guns in the hands of honest citizens save lives and
property and, yes, gun-control laws adversely
affect only the law-abiding citizens.
Take note my fellow Americans, before it's too late!
The next time someone talks in favor of gun control, please remind them of this history lesson.
With guns, we are 'citizens'. Without them, we are 'subjects'.
During WWII the Japanese decided not to invade America because they knew most Americans were ARMED!
If you value your freedom, please spread this
anti gun-control message to all of your friends.
The purpose of fighting is to win.
There is no possible victory in defense.
The sword is more important than the shield,
and skill is more important than either.
The final weapon is the brain.
All else is supplemental.
SWITZERLAND ISSUES EVERY HOUSEHOLD A GUN!
SWITZERLAND'S GOVERNMENT TRAINS EVERY
ADULT THEY ISSUE A RIFLE.
SWITZERLAND HAS THE LOWEST GUN RELATED
CRIME RATE OF ANY CIVILIZED COUNTRY IN THE WORLD!!!
IT'S A NO BRAINER!
DON'T LET OUR GOVERNMENT WASTE MILLIONS
OF OUR TAX DOLLARS IN AN EFFORT TO MAKE ALL
LAW ABIDING CITIZENS AN EASY TARGET.
Monday, July 5, 2010
The Real Meaning of the Fourth of July
http://www.fff.org/comment/com0807b.asp
"the real significance of the Fourth of July lies in the expression of what is undoubtedly the most revolutionary political declaration in history: that man’s rights are inherent, God-given, and natural and, thus, do not come from government."
"the real significance of the Fourth of July lies in the expression of what is undoubtedly the most revolutionary political declaration in history: that man’s rights are inherent, God-given, and natural and, thus, do not come from government."
Sunday, July 4, 2010
U.S. officials spy on activists across the political spectrum
http://tuccille.com/disloyal/2010/07/01/u-s-officials-spy-on-activists-across-the-political-spectrum/
POLICING FREE SPEECH:
Police Surveillance and Obstruction of First Amendment‐
Protected Activity
http://www.aclu.org/files/assets/Spyfiles_2_0.pdf
POLICING FREE SPEECH:
Police Surveillance and Obstruction of First Amendment‐
Protected Activity
http://www.aclu.org/files/assets/Spyfiles_2_0.pdf
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