The house flipper, the symbol of real estate fever—the investor who buys, fixes, and sells homes quickly—is back. This time it’s a good thing.
Real estate – United States – Business and Economy – Business – Foreclosure
Apr
11
Is the return of house flippers a good sign?
Apr
05
NY Fed disclosure of the TARP payments
In the NY Fed disclosure of the TARP payments, they show various certificates that were tendered for cash. In Maiden Lane I, it shows the CDS’s for 11 certificates from the WFHET_05-2, mostly M8 but also an M9 and M7 certificate. Some of the values show a positive amount (8,200,000, i.e) and some show negative balances (-10,000,000 i.e.). This was a Bear-Stearns counterparty deal. What are these values representative of? The amount of the loss on the swap? Amounts vary among the M8’s. They show 9 M8’s, 1 M7, one M9.
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, HERS, Investor, Mortgage, securities fraud Tagged: Bear-Stearns counterparty, disclosure, HERS, M7, M8, M9, Maiden Lane I, NY Fed, TARP payments, WFHET_05-2
Apr
02
Credit Card Companies geting tougher? FIGHT BACK with securitization defenses!
See the thing about the arrogance of these non-bank and bank financial institutions is they are rushing to get under the wire before the truth is revealed: they are not the creditor and they never were. Send your debt validation letters and don’t let them sue without filing a motion to dismiss the same as the foreclosure actions. They have nothing. They are just pretender lenders just like the mortgage companies.
Filed under: bubble, CDO, CORRUPTION, currency, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: bailout, credit cards, disclosure, Federal reserve, fraud, Lender Liability, mortgage meltdown, pretender lender, securitization
Mar
30
Maria Leonor Gerholdt’s notary commission expired on 5/26/09 and Mary Jo McGowans’ expired on 7/3/07
You will need to check the date of the signing by both of these ladies. You see Maria Leonor Gerholdt’s notary commission expired on 5/26/09 and Mary Jo McGowans’ expired on 7/3/07. Here’s their respective info from FL
http://notaries.dos.state.fl.us/notidsearch.asp?id=1086223
http://notaries.dos.state.fl.us/notidsearch.asp?id=1012235
Filed under: bubble, CDO, CORRUPTION, Eviction, expert witness, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, Investor, Mortgage, Motion Practice and Discovery, securities fraud, Securitization Survey, Servicer, workshop Tagged: 5/26/09, 7/3/07, HERS, http://notaries.dos.state.fl.us/notidsearch.asp?id=1012235, http://notaries.dos.state.fl.us/notidsearch.asp?id=1086223, Maria Leonor Gerholdt, Mary Jo McGowans, notary, NOTARY COMMISSION, NOTARY COMMISSION EXPIRE
Mar
09
How to Find “Who Owns The Note” – Who has an “Insurable Interest” !!!!
How to Find “Who Owns The Note” – Who has an “Insurable Interest” !!!!
It is basic insurance law that in order to become named as a loss payee – that is, to get an insurance policy issued to you to indemnify you against loss – you have to have an “insurable interest.” MERS doesn’t ( as far as I know). It is not a “loss payee”. Every assignment of a mortgage (when the mortgage is sold in the securitization process is insured:
http://www.eagle9.com/policies/Lender_Policy.pdf
(I think I posted this here before, because Eagle9 warns of a loss of assignment if the assignment or hypothecation (sale of chattel paper/mtg) is not recorded under state law AND there is an intervening BANKRUPTCY that supersedes UCC automatic perfection under UCC 9-301 – 304
(yes, I did:
http://livinglies.wordpress.com/2008/05/23/foreclosure-defense-strategic-bankruptcy-options/ )
Follow the insured interest.
Then you will know who does or does not have an interest in your mortgage.
And thanks to Brad Keiser for reminding me of this again in our telephone conversation yesterday.
Steven K. Kop
Attorney at Law
bluejaylaw@gmail.com
(310) 721-8557
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: assignments, brad keiser, creditor, hypothecation, insurable interest, lender policy, loss payee, MERS, Steven Kop, UCC 9-301-304, Who Owns the Note
Aug
05
South Korea banks embrace securitization; costs weigh
“South Korean banks are set to return to the global mortgage securitization market and diversify their funding base, even if investor caution about Asian mortgage assets has recently raised costs for their securitized debt.”
