Tag Archives: Massachusetts Supreme Judicial Court

Let The Fraud Continue

Banks Continue ‘Robo-Signing’ Foreclosure Practices In Spite Of

Promises To Contrary: Investigation

NEW YORK/IMMOKALEE (Scot J. Paltrow) – America’s leading mortgage lenders vowed in March to end the dubious foreclosure practices that caused a bruising scandal last year.

But a Reuters investigation finds that many are still taking the same shortcuts they promised to shun, from sketchy paperwork to the use of “robo-signers.”

That is the headline in the Huff Post Business section yesterday, September 20th.

Remember that the banks promised to not do that any more?  Of course they did but that promise can be added to the other 3 promises one should never believe.

Imagine, a promise made by organizations that have exhibited no moral conviction, no human compassion and certainly no concern for the economies of the entire world.  A promise made by a consortium of global scoundrels, criminals, gangsters, liars and thieves.  And what a shock it is to hear that they have broken their comments.

Banks today are on a preplanned course of obtaining as much U.S. real estate as they can.  It is a part of an even greater plan by powers not yet identified to transfer as much American wealth to a handful of elite.  We have already seen the evidence of this cash wealth transfer.  Now the real evidence of the fraudulent activities surrounding banks in their attempts to transfer real property to the same handful of elite is rearing its ugly head.

It is as if the Matt Taibbi’s description of Goldman Sachs as the Great Vampire Squid has spawned an entire underground cave full of  Vampire Squids with Goldman as the Mother Vampire Squid.

Yet with all of our lawmakers in Congress, our U.S. Attornely General and all the Attorneys General in the United States, the FBI, the FDIC as well as our Executive branch does absolutely nothing.  In fact, they all turn the other way.  They to must fear these Vampire Squids.

But not enough is ever said of those people, the real people, living, breathing human beings who have been and are affected by this rash of asset transfers.

The Huff Post – Reuters Report – does put a face on the story.

In its effort to seize the two-bedroom ranch house of 87-year-old Margery Gunter in this down-on-its-luck Florida town, OneWest Bank recently filed a court document that appears riddled with discrepancies. Mrs. Gunter, who has lived in the house for 40 years and gets around with the aid of a walker, stopped paying her loan back in 2009, her lawyer concedes. To foreclose, the bank submitted to the Collier County clerk’s office on March 3 a “mortgage assignment,” a document essential to proving who owns a mortgage once the original lender sells it off.

But OneWest’s paperwork is problematic. Among the snags: state law permits lenders to file to foreclose only if they already legally own a mortgage. Yet the key document establishing ownership wasn’t signed and officially recorded until months after OneWest filed to foreclose on Mrs. Gunter. OneWest declined to comment on the case.

Problematic??!!

I would say problematically illegal.  The question is who signed the “key document” and  what was that persons authority to do so?  Part of the Florida Statute says that an Assignment (proff of transfer of ownership) must be filed and recoded prior to the foreclosure action being filed by the Plaintiff.  Again, I am not a lawyer but I would have to say that this fact alone is a procedural casue for the action to be dismissed by the court.

With proof positive of wrong and illegal practices, still nothing is done by our courts or legal justice system.  It is as if many of our courts have gone over to the dark side.

Now in years gone by, in a time and space far far away- almost as if in another galaxy – banks would have always preferred to “work something out” with a homeowner rather then to take their home.  The old (real old) saying that banks did not want to own real estate is no longer true.  They do want to own real estate.  They want to own it all.

One of the industry’s top representatives admits that the federal settlements haven’t put a stop to questionable practices.

Some loan servicers “continue to cut corners,” said David Stevens, president of the Mortgage Bankers Association. Nearly all borrowers facing foreclosure are delinquent, he said, but “the real question is whether the servicer complied with all legal requirements.” The loss of a home is “the most critical time in a family’s life,” and if foreclosure paperwork is faulty homeowners should contest it. “Families should be using every opportunity they can to protect their rights.” (emphasis added)

From our mouths to the mouth of the President of the Mortgage Bankers Association.  “Families should be using every opportunity they can to protect their rights”.  Yes, we all do have rights.  Protecting our rights is an even bigger issue for the long run.  We must protect and preserve our rights if we expect our children and their children to live in a free Republic.

There are some in the judicial arena that are as concerned with the preservation of our rights as we are.  While not yet in the majority of judges we are seeing more and more taking a stand for justice against fraud and criminal behaviour of banks and the attorneys that represent them.

Increasingly, though, courts are holding that the trusts suing to foreclose don’t actually own the mortgages. Judges have ruled that foreclosing based on flawed or missing evidence violates longstanding laws meant to protect all Americans’ property rights. (emphasis added)

In a landmark decision in January, the Massachusetts Supreme Judicial Court overturned a foreclosure (emphasis added) because of a lack of proper documentation.

“The holder of an assigned mortgage needs to take care to ensure that his legal paperwork is in order,” wrote Justice Robert Cordry in a concurring opinion. “Although there was no apparent actual unfairness here to the (homeowners), that is not the point. Foreclosure is a powerful act with significant consequences, and Massachusetts law has always required that it proceed strictly in accord with the statutes that govern it.”

(U.S. Bank National Association, trustee, vs. Antonio Ibanez, 458 Mass. 637.)

Justice Robert Cordry is among the handful of judges in this country “who gets it”.  He joing the ranks of Federal Judge Boyko of Ohio who denied 17 cases for lack of standing and proper paperwork and Supreme Court Judge Schack of New York both of whom have been on the right side of justice since this crisis began.

We applaud these judges and the few others out there who “get it”.   There are others and we would love to hear about them from you.  If you have had a positive, legal experience let us know.  If you have know of judges and/or cases where they have ruled on the side of the law not on the side of fraudulent banks, trusts and servicing companies please let us know.

Please view the entire story from Reuters on the Huff Post…click here

NOTE:  Soon an important announcement from TheForeclosureDetonator.  We are gong to become proactive in the fight against illeal foreclosures.  Stay tuned.

Foreclosure Victims Plan Protests Across U.S.click here 

This is the action we need.  We need to show our lawmakers that we are serious about our rights.  Click on above to read more.  THIS IS IMPORTANT.

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