Scott Stafne, Attorney in Washington State that Won the Huge Ruling against MERS and Bank of America and Recontrust, Spoke with me about the case and the Implications for everyone - Video Interview

Scott Stafne, the Attorney who won the huge ruling, I wrote about last week in Washington State against MERS, spoke with me today about the ruling and what it means for previously foreclosed on homeowners by MERS, Bank of America and Recontrust in non-judicial foreclosure states.

Stafne Trumbull Attorney
Scott Stafne
239 North Olympic Avenue
Arlington, WA 98223
ph# 360-403-8700

The PDF of the judge's ruling is here






If you have been foreclosed on in the past years by a MERS bank, please contact an attorney and sue them!

The more people do this and Win, the banks will have to STOP the fraud!

A news article out today says the banks are doing the same things they did in 2008 and nothing has changed!

HUGE Ruling Against Bank of America MERS bank foreclosure in Washington State (non-Judicial) - Judge: FORECLOSURES ILLEGAL/UNCONSTITUTIONAL! Give this information to your Lawyer!

Update 2/18/14 - I spoke to Scott Stafne about the ruling.  The Interview is here.

This is HUGE RULING against Bank of America, a MERS bank in Washington State.

The judge ruled the BOA MERS foreclosure was not legal in anyway. He also set it up where the person foreclosed on can get monetary damages from BOA in a trial.

This information and ruling was in a non-judicial foreclosure state.

The attorney in Washington State who handles illegal foreclosures and who won this case is

Scott E. Stafne
Stafne Trumbull, LLC 
239 North Olympic Avenue
Arlington, WA 98223
ph# 360-403-8700

The pdf of the Judges ruling is here. 

portion from ruling:

There was no evidence that MERS was ever the owner or holder of the note. Hence, 

under the Bain decision, MERS could not have been the beneficiary. Bain left open the issue of 

whether MERS could act as an agent of the lender or trustee, and in support of its motion for 

summary judgment defendants make that assertion here. More troubling is the role of 

ReconTrust. It was ReconTrust which issued the notice of default to the borrower. ReconTrust 

was not the trustee when that notice was issued. It’s undisputed that ReconTrust was, at all 

times, a wholly owned subsidiary of BANA. There’s no reason, or at least none that I could see, 

that would preclude ReconTrust from issuing a notice of default as an agent of BANA. But 

thereafter MERS named ReconTrust as the trustee. Or perhaps ReconTrust named itself as the 

trustee, since the signatory “G. Hernandez” was not an employee of MERS but rather was 

employed by ReconTrust. While the DTA appears to have been amended and arguably might 

permit a subsidiary to act as a trustee, the statutory requirement remains that the trustee be 

independent and not beholden to the lender or borrower. Acting as an agent of BANA and being 

a wholly owned subsidiary of BANA, it seems specious to attempt to argue that ReconTrust was 

an independent trustee

I have a call to Stafne Trumbull this morning and have left a message, asking if I could speak with him a few minutes about the ruling and the implications and how this helps everyone throughout the U.S.  If I hear from him and am able to speak with him for a short interview I will upload it and put it on the blog.


Here is an interview with a woman who is intimately familiar with the case and what the implications are.





If you are in Foreclosure or at risk for a Foreclosure - PLEASE contact an attorney, your town/city legal aid and get this information to them!

DO NOT GET FORECLOSED ON!  STAND UP AND STAND FOR YOUR RIGHTS!  STAND FOR LEGAL JUSTICE!  STAND UP AGAINST THE ILLEGAL FORECLOSURES THAT ARE HAPPENING! 

IF YOU HAVE ALREADY BEEN FORECLOSED ON - GET AN ATTORNEY AND FILE SUIT AGAINST THE BANK THAT FORECLOSED ON YOU!

START A MOVEMENT OF ALL PAST ILLEGAL FORECLOSURES HAVING TO GO TO COURT AND THE PEOPLE WINNING FOR LEGAL JUSTICE!

Leaked Email reveals how much Fraud the Banks will commit to foreclose fraudulently on homeowners - Involves Deutsche Bank -Bank Of America -LPS

Lender Processing Service - LPS has been caught with their "fraud down."

This leaked email proves how much the banks and those who support them will go to commit fraud to foreclose on a homeowner.

They did not have the proper name as the foreclosing entity so they decided to go ahead with the foreclosure and then just "quit claim" the property after the fact to the correct bank that supposedly owned the loan (BOA).

This is why everyone needs to have an audit done on their loan. It is worth it, because it proves the fraud. I will say over and over again, to get one done.

Jesse at USMortgageauditors (info on top right side of blog) does audits on loans.  I will keep expressing this because your home can be saved from an audit.  The Fraud is revealed and Jesse has saved many homes from a fraudulent foreclosure.

The banks have proven over and over again they will commit felony frauds to foreclose, yet the government looks the other way.  If an individual even did one thing the banks constantly do they would be thrown in jail for the rest of their lives.

How is this justice that when these kinds of things come out, yet the judges don't throw the parties committing the fraud in jail?  How is it, that it is just part of the business of the banks and the judges only allow the homeowners relief - yet not throw the book at the banks?

It is about time for the bank employees and all the banks that commit the fraud against the courts be held accountable.  It is time for them to start going to jail for the forgeries of names and forgery of paperwork.

We need to demand that the laws be upheld against whatever entity commits them and who ever works for that entity that committed.

Start applying fraudulent law to ALL - not just the "regular" people!  Arrest those who commit fraud for the banks.  That would stop the fraud at the banks by the employees if they find out, they are susceptible to arrest for committing the fraud for the banks.    

Video - Senator Dick Durbin tells everyone "Get your money OUT of Bank of America! They are over charging their customers, taking bailouts and giving themselves bonuses!"

Senator Dick Durbin trashed Bank of America on the Senate floor! He says "Bank of America is over charging it's customers, yet taking bailouts and giving themselves bonuses!" He tells everyone "Get your money OUT of Bank of America!"

He mentions Bank of America over and over again saying how outrageous it is they have added a $5.00 debit card fee to their customers, yet it only cost 7 cents for each swipe which the retailer actually pays 44 cents for! He says they are already making 600% on each swipe from the retailer and now they are charging their customers a fee!

He really trashes Bank of America and says how greedy they are and it is typical "Wall Street"!

MBIA Bond Insurer suit against Bank of American for Fraud Mortgages - NY Court hearing postponed

MBIA - a bond insurer sued Bank Of American for them to buy back/repay billions of loans insured by the company, due to all the fraud.

The court hearing was to be today, but has now been postponed until October.

This is part of the reason why Bank of America wants it's settlement made with all the Attorneys Generals of all the states, so they are only liable for 8 billion and then it makes this suit null and void as they will have settled with the state AGs.

MBIA has said 8 billion is not enough for them alone.

Bank of America is arguing the courts can not rule against them, as it will adversely affect the bank and opens the door for others. 

BOA tried to stop MBIA in earlier court proceedings from using samples of the type of fraud loan documents being used for their mortgages in their case against them.

When BOA purchased Countrywide in 2008, the largest mortgage company in the U.S. at the time, Countrywide had signed an agreement with MBIA saying they would "buy back any loans with misrepresentations in them".  So BOA took on that liability when they purchased Countrywide and now they are fighting it.

Some have estimated the buy back liabilities at $74 billion for BOA. 

BOA is in talks with 22 investor bond holders, trying to settle for 40% of the mortgages and their settlement made with the AG's would encompass the 8 billion being offered.

The case is MBIA Insurance v. Countrywide Home Loans, 602825-08, New York State Supreme Court (New York County).

This is all why BOA is rushing the state AGs to settle their fraud and sanctify them committing crimes against their investors and the homeowners of the U.S.

If the AG's settle and allow BOA to have defrauded billions and billions from their investors and bond insurers, I believe BOA will go down.  What investor or bond holder would touch another one of their fraud loans, as they lost billions and billions due to them?  BOA will hopefully become a piranha as they are in the investment world of MBS.

Very small portion of article:

Bank of America, in its talks with 22 of the world’s largest debt investors, argued that any loan repurchase would require loss causation be proven, according to a filing in New York state court of an expert opinion by Brian Lin, a managing director at RRMS Advisors. Those negotiations led to the proposed $8.5 billion settlement. 

Lin said a settlement between $8.8 billion and $11 billion would be reasonable, relying in part on an assumption that investors would be successful in getting Bank of America to repurchase only 40 percent of misrepresented loans. The investor group had argued that they thought a success rate of 50 percent to 75 percent was more reasonable, according to his opinion filing.

49 State Attorneys General Sanctifying Foreclosure Fraud of Wall Street- Settlement-

It seems 49 State Attorneys General, except for New York are going to allow Wall Street Free rein of Foreclosure and Mortgage Fraud.  They are working on settling all the Fraud of Wall Street and making it legal.

The only Attorney General hold out is New York's Eric Schneiderman, who has said it is "both procedurally and substantively flawed."

Everyone needs to call their Attorney General and ask if they are going to let Wall Street completely defraud the whole American Public and get away with illegal foreclosures?  Also ask, if this was an individual defrauding another, wouldn't that individual be in jail?  Ask why they are going to sanctify crimes by the banks?  Demand answers!

It is so funny, how I am finding out there is no justice for the people when it comes to Wall Street and their crimes.  Wall Street literally gets away with murder and stealing of all the people's money and homes!

Wall Street committed a crime in the first place with all their fraud MBS selling them to investors around the world and the rating companies helped them.

We the people would never have those who are expected to hold up the law of the land - the 50 State Attorneys General, sanctify any crimes we committed.

If there wasn't fraud from the beginning, do you think PIMCO, N.Y. Fed, hedge funds, AIG, and the list goes on, would have sued Bank of America?  No!

Due to all the suits wanting billions back, proves on it's own Fraud and out right Illegal Crimes were committed!  Yet the 49 State Attorneys General, are trying to help Wall Street cover up the crimes and make them legal at the expense of investors and all homeowners!

People wonder why so many of us have lost faith in this country, there are no laws for those at the top, yet there is a clamp down of the people and their freedoms.  There are no morals left of anyone who holds an elected office, they do not work for the people, only for the banks and corporations.

At some point they will have stretched that rubber band too far and it will snap, people will wake up to what has fully been happening in this country and the world, even if MSM ignores the most important news and situations that affect the people directly.  I expect when a settlement of fraud is done, MSM will spin it to be a "great thing" and won't mention how Wall Street has gotten away with stealing by those who are suppose to up hold the law!

Portions of article linked above:

Bank of America Corp may settle a state and federal probe of foreclosure practices in a deal that lets New York proceed with an inquiry into securitizations, Bloomberg reported citing two people with direct knowledge of the matter.

The firm may pursue an accord with most of the 50 state attorneys general, even if it omits New York's attorney general Eric Schneiderman, said one of the people, Bloomberg reported.

The company executives, concerned that a delay in resolving the case is hurting the firm's stock, are open to a deal that would resolve most of it, even if some mortgage investigations continue, said one of the people.


Edited to add:  More information added in a comment on What Really Happened by Micheal Rivero -

Wall Street Mortgage Backed Securities destroyed the U.S. and EU.

Portion from link:

Deutsche Bank, a German lender, has sold the Fed more than $290 billion worth of mortgage securities, Fed data through July shows. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.

The data had previously been secret. It was released Wednesday per the recently-enacted law overhauling the federal financial regulation. The Fed, ferociously backed by the Obama administration, fought lawmakers' desire for full disclosure throughout the financial reform debate.

AIG sues Bank of America and Merril Lynch over all the FRAUD Mortgages they sold investors and AIG insured!

WOWSA WOWSA WOWSA - They are now going after each other.  Wall Street fraudsters are suing other Wall Street fraudsters over the FRAUD of mortgages!  Dog eat dog scenario. 

AIG is an insurer who insures mortgages for big Wall street firms.  They are the same ones the government had to bail out in 2008/2009, due to all their losses in mortgages.

Well it seems everyone is coming right out and suing over the FRAUD of mortgages.

Zerohedge has an article about Bank of America going down in stock price and they have the information about AIG filing suit against BOA and Merril Lynch last night.

Update - Bloomberg also has an article about Bank of America and their 20% drop in stock today, they mention the AIG suit against BOA.

This is awesome and I can just imagine this will help open the door to every investor in the world who put money in MERS mortgages, since they are all fraud.

AIG probably filed this fast, due to the settlement BOA has been pushing with the government, which would sanctify their fraud and block any lawsuits or litigation against their mortgage fraud.

Please remember every single Wall Street bank is in the same boat as BOA, it is just they get all the attention and suits, since they have the most mortgages outstanding in the United States.

Every single Wall Street bank should have a suit filed against them, including Warren Buffet's Wells Fargo Bank.  They are all part of the fraud and commit fraud every time they foreclose on anyone or even write a mortgage.


Go to the Zerohedge link to see the papers filed by AIG against BOA and Merril Lynch. 

A comment about all the outrage over S&P's downgrade of the U.S.  The U.S. credit rating has been fraud for years and should have already been downgraded due to the debt and all the printing by Bernanke.  Which more printing is expected to be announced tomorrow by Bernanke in the start of QE3.  That will provide all the fake prop up of the stock markets and help JP Morgan continue all their manipulations of metals.

One other thing, where is the outrage to the credit ratings for all their fraud they committed for Wall Street in rating AAA mortgage bonds, when they knew they were junk?  Why should anyone even listen to a credit rating?  Why can't people look and read and study what is going on and see for themselves? All ratings are based on fraud and it is all just a game and cover up.

Bank of America to get carte blanc approval of foreclosure fraud and future lawsuits halted by Government?

It seems Bank of America is pushing the government for a resolution and a stop to all the lawsuits against them for foreclosure fraud.  Is the government working on a way to sanctify all the fraud of the banks and make foreclosure lawsuits impossible?

Something is happening behind the scene and in the back rooms of the government in trying to work out a deal for the banks to be protected against the people for all the illegal fraud of foreclosures.

Zerohedge has this article up today. 

Bank of America Proposes To Cut Outstanding Mortgages In Exchange For Broad Legal Settlement Deal

From how it reads, there looks to be a deal being worked out where Bank of America will lower the principle on all the mortgages it services and it has directly.

The spin from the government and MSM will no doubt be "This is great for the people" in any deal worked out.  But don't be fooled.  It will be "Great for the banks" it will be protecting the banks from the people who have been exposing the fraud and standing up to the fraud in courts.

It is amazing how the government is working to protect the banks in anyway they can, even when the banks have stolen property, committed crimes and have out right defrauded people.  If you or I ever defrauded anyone else we would be thrown in jail without the government working to make our fraud legal.  

Portion of the article:

The bank is "discussing the proposal with state and federal officials who are prodding the country's biggest banks toward a multibillion-dollar deal to atone for foreclosure errors…As the discussions dragged on past the mid-June target set by U.S. officials, Bank of America began pressing officials for a speedy resolution, and it put forward its principal reduction proposal in one-on-one talks with state and federal officials. Meanwhile, negotiations continue with the banks as a group…Bank of America has told officials it wants protection against future litigation relating to mortgage servicing, said people familiar with the situation. In exchange it is willing to agree to a program in which troubled borrowers would have to prove financial distress to qualify for a writedown of the principal owed on their mortgage…The principal amount would have to be $1 million or less in certain geographic areas, one of these people said, and a reduction would apply to the bank's own mortgages and those its services for private investors

 All you have to do, is read between the lines in this article.  Bank of America is pushing for a resolution, due to many many more people waking up to the fact of their fraud and educating themselves. They want a stop to it immediately.  The courts have been siding with the people in many cases and some states even stopped any Bank of America foreclosures at various times.  Bank of America wants to be protected from "the people" who have become educated to their fraud and know all foreclosures by them are completely Fraud and Illegal.

No matter how much I have tried, I do understand "We the People" are not at all listened to, "We the People's Voice" is not heard and has been silenced by the elected officials.  They have their masters who they hear and do the bidding of.   So, We the People have to keep trying in intellectual ways of stopping the fraud and holding banks accountable.

I hope more and more people begin court proceedings against the Fraud of the banks around the country before it becomes sanctified by the government. 

How will the government sanctify the fraud?  That is the question.  How are they going to rewrite the fact the banks committed fraud upon their investors and the people with the fraud mortgages?  

 

Bank of America has to Pay 8.5 BILLION Due to their Mortgage FRAUD (MERS) to Investors - LET ALL THE CLASS ACTION LAWSUITS BEGIN AGAINST ALL THE BANKS!

I AM LOVIN IT!!!  TOTALLY!

LET'S HOPE THIS IS THE FIRST OF A MULTITUDE OF SETTLEMENTS AND LETS HOPE CLASS ACTION LAWSUITS BEGIN AGAINST ALL THE WALL STREET FRAUD BANKS REGARDING THE FRAUD MORTGAGES (MERS)!

Bank of America has to pay out 8.5 BILLION to Investors (Pimco, Blackrock, Metlife, N.Y. Fed), which is just the beginning!  This is SO AWESOME!~

This shows the mortgage Fraud is going to hit the banks at the point they started the FRAUD of mortgages by creating MERS!

The investors want their money back, because of the FRAUD and how the banks put one mortgage in multiple bonds, but besides that the mortgages are not enforceable due to the FRAUD of the Wall Street Banks!  Their GREED is coming back to Roost!

LET THE SUITS BEGIN!

Portion From Article:

Bank of America may be about to part with more money than it has earned since 2008 in what will soon be the biggest financial settlement in the industry to date According to the WSJ, the Charlotte, NC-based bank is preparing to pay $8.5 billion to settle mortgage (mis)representation claims (aka the Mortgage putback issue) brought on by such high profile figures as BlackRock, Pimco, MetLife and, of course, the Federal Reserve, previously discussed on Zero Hedge. "A deal would end a nine-month fight with a group of 22 investors that hold more than $56 billion in mortgage-backed securities at the center of the dispute, including giant money manager BlackRock Inc., insurer MetLife Inc. and the Federal Reserve Bank of New York." Keep in mind that this is actually not good news for the bank, contrary to what the company's stock is doing after hours, as this still keeps the company exposed to a multitude of other rep and warranty litigation (which will now be largely underreserved), not to mention fraudclosure issues, which are totally unrelated, and which will plague the bank for years and years. Lastly, BAC is largley underreserved (see below) for a settlement of this size which means its Tier 1 capital ratio will likely be impacted due to a major outflow of cash.

From the WSJ:

The deal could embolden mutual-fund managers, insurance companies and investment partnerships to go after similar settlements with other major U.S. banks, arguing that billions in loans scooped up before the U.S. housing collapse didn't meet sellers' promises or were improperly managed. Most vulnerable would be Wells Fargo & Co and J.P. Morgan Chase & Co., which along with Bank of America collect loan payments on about half of all outstanding U.S. mortgages.

The dispute between Bank of America and the mortgage investors began last fall when they alleged that securities they bought before the financial crisis from Countrywide Financial Corp. were composed of loans that didn't meet sellers' promises about the quality of the borrowers or the collateral.

Homeowner Turns Tables on Bank of America and Starts Foreclosing on their Property

Ya just gotta love stories like this.  A homeowner turned the tables on Bank of America when they did not pay their legal bills for trying to illegally foreclose on a property.

The homeowners had purchased the property with cash from Bank of America (obviously a foreclosure) and then Bank of America tried to foreclose on it again.  The people won of course, but incurred legal bills which Bank of America was stiffing them for. 

Deputies and a moving truck went to the branch to take desk, computers etc as the bank manager freaked out.  Needless to say Bank of America wrote them a check for the $2000+ legal bill without having anything taken out!

Video is in link and I can't embed it here. 

Now these type stories really do make me feel warm and fuzzy all over!  :)

Court ruled Bank of America can continue foreclosures once more in Nevada

A court ruled Bank of America can continue (FRAUD) foreclosures once more in Nevada.  Last week I had reported a court halted all Bank of America foreclosures there.  But it seems there may have been a huge amount of pressure on a judge to rule for Bank of America.

This is sad news, since all their foreclosures are based on fraud.

I would advise anyone with Bank of America or any MERS loan who is facing foreclosure to fight it!

Portion of Article:

After being involved in the recent ‘robo-signing scandal’ and foreclosure debates, Bank of America Corporation (NYSE:BAC) has finally received approval from the court to continue operations in Nevada.

Bank of America Ordered to Stop ALL foreclosures in Nevada a non-judicial state - Attorney seeking Possible Class Action Status

Bank Of America has been ordered to stop all foreclosures in Nevada a non-judicial state.  

The judge ruled they can only foreclose with a judges order, which is only for judicial state foreclosures.  The non-judicial states do not need court orders for foreclosing, the companies can simply foreclose after advertising the foreclosure for 4 weeks.

The non-judicial foreclosure states will have law firms and companies which represent the banks and become the trustees for foreclosing.  In Nevada that firm seems to be ReconTrust, which handles the foreclosures for banks.

By a lawsuit going against ReconTrust who is handling foreclosures in Nevada for banks, hopefully all foreclosures will have to be stopped, not just Bank of America's foreclosures.

It is amazing how people think the foreclosure crisis is behind us and it is all straightened out, because MSM does not mention it anymore.  Yet there is more going on then ever before and more and more rulings FOR THE PEOPLE by judges.  Some judges still rule for the banks, but I would think in appeals, the correct ruling by law will have to be applied and thus it should be for the homeowner.  I linked a New Jersey ruling below, which was for the bank, yet it went against all laws and rights. 

Portion:

John Christian Barlow, a lawyer who represents North, said the lawsuit claims ReconTrust doesn’t have the authority to foreclose on homes in Nevada. Bank of America and other banks use ReconTrust to seize homes in Nevada, he said. Barlow said he will seek class-action, or group, status for the lawsuit.

In Tennessee and Arkansas I know it is a law firm named Wilson and Associates who become the trustee and substitute trustee to foreclose on people for the banks.

Every state is different and what is a shame is a judge in New Jersey is allowing foreclosures when the note is not available, which says who is owed the debt.    I certainly hope the people appeal this ruling by that judge.  As that goes against all laws and rules of foreclosures.

Bank of America Stops Issuing Default notices to homeowners in Non-Judicial Foreclosure States! I bet they are waiting until July now!

Zerohedge is reporting Bank of America has stopped issuing mortgage default notices in non-judicial states!!

That is huge, that means they are not going forward with foreclosures, if they are not sending out notices of default anymore!

This is for the non-judicial states, which the banks have continued their foreclosures in.  People have to sue the banks to stop foreclosures in non-judicial states, of which there are 33 states that have non-judicial foreclosure proceedings.

I figured out WHY they are not sending out notices now!

People have started fighting their foreclosures in non-judicial states and they have won in many cases, including the Massachusetts Supreme Court case, two weeks ago.

So.... if you are a bank and too many people are getting smart and fighting foreclosures and that is getting more publicity, thus causing more people to fight a foreclosure, what would be your best course of action?

Stop issuing notices of default of course and stop foreclosing at this time, then the bank waits until this July to issue defaults and foreclosure notices!   Once July hits, no one will be able to sue against a foreclosure by the banks!  So they are willing to let people stay in their homes and not start foreclosure proceedings at this time!

I would not be surprised if other banks start following Bank of America's lead, by stopping foreclosures and notices of default in the next few weeks.  

The foreclosure rate will most likely go down drastically until July for the country, but then in July it will shoot to the moon. In July, there will probably be millions of foreclosure notices hit everywhere around the country

So, don't think the banks are being nice now and acknowledging their own fraud by stopping default notices and foreclosures, they are simply waiting until people can not fight a foreclosure, due to the Federal Reserve changing our laws and rights of TILA (Truth in Lending Laws). !

So, those with loans where Bank of America services them, don't get too excited about BOA deciding not to take action against any one at this time.  They are simply willing to wait a few months and let people live in their houses and then they will jump on the people like the sneaky stealing bankrupt everyone they can bank, that they are.

If I was a BOA person, I would be demanding they give me something in writing about their intentions of default of my loan and I would still sue them, before there is not the possibility to do so, come July.

Also, how many people have called Ron Paul about the Federal Reserve changing our TILA laws and rights, who are reading this?  His number is in the other post, I personally have not heard back from anyone there, but I will be calling once more.

I haven't posted due to some Big things happening! It is involving the Foreclosure Fraud! I have STOOD UP! I am asking others to Stand UP also! BUT right now, I need people in Tennessee that have Bank of America as their Mortgage and having problems! ALSO - I need People in Tennessee with Litton Loan servicing! Very Important to get in touch with me!

I have not posted, due to the holidays and a very big thing happening in my life right now.  I will say that I am STANDING UP to the Foreclosure FRAUD!  I will give more information as I can, but that is all I can say right now. 

Also, I NEED people in Tennessee to contact me ASAP who have Bank of America as their mortgage company and have had problems with them.

Also I NEED people in Tennessee who have Litton Loan (Goldman Sachs) as their servicing company! 

THE ABOVE PLEASE CONTACT ME!  This is All about the Foreclosure FRAUD!  I will give you more information, including the lawyer you will need to contact!


I will be on Dave Hodges - Commonsense Show this Sunday through Republic Broadcasting!  He is interviewing me regarding the Foreclosure Fraud.  I will try to give information of what I know about it, in a way people will hopefully understand it more!

PEOPLE NEED TO STAND UP TO THE BANKS AND THE FRAUD - WE HAVE THE POWER - WE CAN DO IT - BUT WE NEED TO DO IT TOGETHER!

PLEASE STAND UP WITH ME!

Forbes - European Lynch Mob Coming For Bank Of America - Mortgage Backed Securities (MBS)

Bank of America is the entity that all the Mortgage Fraud is Focused on!  I am sure Goldman Sachs, Wells Fargo, Citibank and all those other Wall street Banks are Thrilled Bank of America has the Huge Target on their Head!  But Bank of America is the top due to acquiring Countrywide in 2008 of mortgages.

An interesting article out today from Forbes - the title:

European Lynch Mob is Coming For Bank of America

 Seems Investors of MBS in Europe are not happy they have been scammed and bought bad investment securities!

Portions:

The latest ugly news for Bank of America is actually coming from Europe, where big institutional money managers and other mortgage securities buyers are now beginning to organize for an assault. This information comes from  John Mauldin’s, Thoughts from the Frontline Weekly Newsletter. His e-letter is a must-read for many money managers and serious investors.

This week he devotes a lot of his letter to testimony that seems to prove that big banks like Citigroup (C) and BAC were negligent and even willfully careless in underwriting subprime mortgages. He also reports on some new ominous developments brewing overseas and that law firm Quinn Emanuel Urquhart & Sullivan , which specializes in going after money center banks, has been hired by Fannie Mae and Freddie Mac parent, the FHFA. 

There are two key take-aways. First, note that a European entity is involved. Hundreds of billions of dollars of this junk was sold to European banks and funds. And these guys get together at conferences (sometimes they even invite me to speak). So Helmut will be talking to Lars who will talk to Jean Pierre and they will realize they all own some of this junk. They will be watching with very real interest to see how the big boys at PIMCO and Black Rock and the New York Fed fare in their efforts. And then you can count on them all piling on (more later on this).

Second, little noticed this week was the fact that The Litigation Daily wrote that Philippe Selendy of Quinn Emanuel Urquhart & Sullivan has been retained by the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, to investigate billions of dollars in potential claims against banks and other issuers of mortgage-backed securities.

New Jersey Class Action Suit AGAINST Bank Of America Just Filed - (MERS)

A Class Action Suit Against Bank Of America (MERS bank) was just filed in New Jersey!

This suit is directly against Bank of America compared to encompassing all MERS banks.

UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEW JERSEY

Tanya Beals, on behalf of herself and all
other persons similarly situated

VS.

Bank of America, N.A, BAC Home Loans
Servicing, L.P., a wholly owned subsidiary
of Bank of America, N.A., LaSalle Bank,
N.A., John Does 1-10

Excerpts:

Defendants Have Consistently Demonstrated a Willful Disregard
for the Procedural Safeguards Entitled to All Borrowers

Defendants Routinely Act in Bad Faith and in Breach of Contractual
Obligations During the Course of their Settlement Negotiations with Plaintiffs

FIRST COUNT
(Fraud)

SECOND COUNT
(Violation of the New Jersey Consumer Fraud Act
codified at N.J.S.A. §§ 56.8-1, et. seq.(NJCFA))

THIRD COUNT
(Breach of Contract)

FOURTH COUNT
(Breach of the Covenant of Good Faith and Fair Dealing)

FIFTH COUNT
(BREACH OF IMPLIED CONTRACT)

SIXTH COUNT
(Quantum Meruit)

SEVENTH COUNT
(Violation of the New Jersey Fair Foreclosure Act)

Two Professors of Universities TEAR APART MERS Standing In ANY Foreclosure! They Say "There is NO Way Any MERS Banks Have ANY Legal Standing To Foreclose" Rabbit Hole is Getting Deeper!

I am quite surprised and amazed the MSM is revealing the TRUTH of MERS and the Banks having absolutely NO Standing to Foreclose on any Mortgage Holder!

CNBC has an article out - in it, two Professors Explain WHY MERS Banks/Servicers have NO Right to Foreclose!

Portion:

Mr. Peterson, in a paper with the dry title of “Two Faces: Demystifying the Mortgage Electronic Registration System’s Land Title Theory,” argues that MERS cannot have it both ways, and that it faces problems if it is deemed to be only one of them.

If it is an agent, he wrote, “it is extremely unclear that it has the right to list itself as a mortgagee,” as it does. State real estate laws, he said, “do not have provisions authorizing financial institutions to use the name of a shell company,” in large part because “the point of these statutes is to provide a transparent, reliable record of actual — as opposed to nominal — land ownership.”

If it is a mortgagee, Mr. Peterson added, it has the right to record mortgages in its own name, as it did. But since it does not own the actual loan, doing that could be seen as violating a long line of precedents that bar separating a mortgage from the underlying note in which the borrower promises to pay. He quotes from an 1879 Supreme Court decision holding that “the assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.”

If an assignment of the mortgage alone is a nullity, then the mortgage can no longer be enforced. The borrower would still owe the money, but no foreclosure would be possible and the borrower could sell the home without paying off the mortgage. The lender could sue the borrower, but collecting money from distressed former homeowners might be very difficult in many cases.

They have made the CASE for MERS and I applaud (which rarely happens) CNBC actually putting TRUTH About MERS in their Article compared to the Normal "Paperwork irregularities" MSM has been spinning the Foreclosure Fraud as!

BANK OF AMERICA HALTS ALL FORECLOSURES IN ALL 50 STATES! Of Course they ARE A MERS CORP!! All Banks Will HAVE TO HALT ALL FORECLOSURES! ALL MERS IS FRAUD!

Bank of America just announced they are halting ALL FORECLOSURES IN ALL 50 STATES!  They ARE MERS!  

The facts are the Facts - MERS IS FRAUD!  All MERS Banks will have to Halt Foreclosures!

I have been making phone calls and encourage EVERYONE to Make Phone Calls to their Attorney Generals of their state and Ask for a HALT of ALL foreclosures due to FRAUD!

Portion:

NEW YORK (CNNMoney.com) -- Bank of America is halting foreclosure sales in all 50 states as part of a widening investigation into flaws in the process, the company announced Friday.

The announcement came a week after the nation's largest bank said it was freezing home foreclosures in 23 states where foreclosures must be approved by the courts. Friday's announcement by Bank of America extends a review of foreclosure documents to all states, regardless of the required legal processes.

"Our ongoing assessment shows the basis for our past foreclosure decisions is accurate," said Bank of America (BAC, Fortune 500) spokesman Dan Frahm in an e-mailed statement. "We continue to serve the interests of our customers, investors and communities."

Breaking News - Bank of America Delays Foreclosures in 23 States - A MERS Corp - Of course! :)

WOW - They are all one after the other STOPPING/Delaying Foreclosures in the States.  Bank of America has Delaying Their Foreclosures in 23 states as of 12:00am EST. Oct. 2nd!

Portion:

WASHINGTON -- Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents.

The move adds the nation's largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the information in them.

Bank of America isn't able to estimate how many homeowners' cases will be affected, Dan Frahm, a spokesman for the Charlotte, N.C.-based bank, said Friday. He said the bank plans to resubmit corrected documents within several weeks.

Two other companies, Ally Financial Inc.'s GMAC Mortgage unit and JPMorgan Chase, have halted tens of thousands of foreclosure cases after similar problems became public.

The document problems could cause thousands of homeowners to contest foreclosures that are in the works or have been completed. If the problems turn up at other lenders, a foreclosure crisis that's already likely to drag on for several more years could persist even longer. Analysts caution that most homeowners facing foreclosure are still likely to lose their homes.

State attorneys general, who enforce foreclosure laws, are stepping up pressure on the industry.

Utah Judge Stopped ALL Bank of America (through MERS) Foreclosures in Utah - June!

A Utah judge stopped ALL Bank of America (it uses MERS) Foreclosures in June of This year!

Portions:

(St. George, UT) June 5, 2010 – A court order issued by Fifth District Court Judge James L. Shumate May 22, 2010 in St. George, Utah has stopped all foreclosure proceedings in the State of Utah by Bank of America Corporation, ; Recontrust Company, N.A; Home Loans Servicing, LP; Bank of America, FSB; www.envisionlawfirm.com. The Court Order if allowed to become permanent will force Bank of America and other mortgage companies with home loans in Utah to adhere to the Utah laws requiring lenders to register in the state and have offices where home owners can negotiate face-to-face with their lenders as the state lawmakers intended

 The Judge felt so strong about the case before him, he issued the preliminary injunction order without a hearing halting the foreclosure process.