The Foreclosing Adventures of Pinocchio

4closureFraud's picture

The Foreclosing Adventures of Pinocchio

Posted by L

industry is scrambling to clean up their mess - yes, the one that
crashed the global economy & left millions of Americans jobless,
homeless, dispossessed, destitute.  Their puppet politicians,
regulators, & law enforcers have been, with a few notable
exceptions, compliant with their marching orders.  Much of the
mainstream media has likewise been deferential, willing to play it's
part as the industry-friendly propaganda machine.

Here's how the clean up looks on a micro level.

ONE MORTGAGE in Florida to Ameripath in 2007 for $384K here.  Ameripath the originator who entered into a consent order with WA state Dept of Financial Institutions for predatory lending practices.

TWO foreclosure cases by Deutsche Bank National Trust as Trustee (each
with a $1,900 filing fee) by Marshall Watson filed in 2009  Lis Pendens
with case numbers Feb 2009 here and July 2009 here.

FOUR Assignments of Mortgage.  A practice in folly.

Assignment One:
New Century Mortgage comes out of nowhere acting as attorney in fact
for the mortgage servicer HomeEq and assigns the mortgage to Deutsche

Assignment Two: Ameripath, the originator, files in 2009 an assignment of mortgage allegedly executed in 2007 from Ameripath to New Century.

Assignment Three: Is actually a refiling of Assignment Number One: New Century attorney in fact for HomeEq assigning over to Deutsche Bank.

Assignment Four:
In 2010, Deutsche Bank National Trust Company as Trustee (Ocwen address
-- what happened to HomeEq?) assigns this non-performing loan into a 2006 REMIC trust (wonder what the investors - aka 401k & pension funds - have to say about that).

The two foreclosure cases?

Case One: Docket
closed (presumably someone caught on to the fact that there was another
active case on the same exact issue involving the same mortgage and the
same litigants).

Case Two: The most recent docket
entry reveals that the judge ordered Deutsche Bank to file something of
merit within 30 days of April 4, 2011 or else the case will be
dismissed without prejudice.

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chunga's picture

Just a simple scriveners error. A good rocket judge will order a Writ of Possession (to somebody???) in about...oh...30 seconds. Then it's off to the links for 18 holes.

This CNN Interview is about the most arrogant I've yet to encounter.

Here is a sample of the questions posed by the pesky reporter.

Poppy: Is this a foreclosure mill…is this a factory?

Judge Soud: That’s silly.

Poppy: But are two or three minutes…is that enough time to look at a foreclosure case and make that final judgment?

Judge Soud: In most of the cases where you see a property owner not there that property owner has defaulted so when that is the case then 3 minutes…when the lawyers we know say that everything is in order then we feel like that is adequate time.

Poppy: But the lawyers represent the banks…doesn’t the judge need to look for…

Judge Soud: No. We do not need…I am not there to check every exhibit.

Poppy: There have been harsh allegations of fraud that this court is acting in a fraudulent way by whipping through foreclosures.

Soud: There is no evidence and I want to say this with as much clarity as I can nothing has been presented to the Fourth Circuit that there is any fraud…uh…being perpetrated on the court. What’s being classified as possible fraud can also be classified as sloppiness, can be classified as neglect…uh…and but the technical aspects, the legal aspects we do not experience that.

I urge the readers to watch the video…pay keen attention at about the 3:20 mark to see the Honorable one actually twiddle his pudgy little thumbs.


apberusdisvet's picture

Title, title, who's got the title?  In the absence of documentation, the house should become the property of the local county courthouse (a defrauded entity) and be auctioned off to provide funds to keep property taxes low.

Phruck the banksters and their lying attorneys.

MrPalladium's picture

+1000 - Best suggestion I have heard in months!!!

illyia's picture

How on earth can they ever hope to straighten this out? Half the mortgages are long out of date... I mean those properties have been refinanced long after the original MBS were issued and who went back and changed the stats to reflect it...?

No one. No one got paid for it so no one did it.

This is so much worse than even the worst case scenario that it is just unspeakable...

And, what if the original debtor with all the refinancings finally sold clean and clear - no residue of debt - and the new owner's property (who has nothing to do with all those prior claims that should have been corrected but were not) is now the target of - what? Foreclosure? On a mortgage overwritten three years ago ? To someone long gone ???

Ugh. Makes my head hurt...

HyperinflatmyNutts's picture

Why don't we hang all the Banksters by Pinocchio Nose??

MrBinkeyWhat's picture

We don't need no stinking papers!

disabledvet's picture

Your Pinochio is clearly wearing the wrong clothes.  I recommend the "black pajama/AK toting" version.

SparkyvonBellagio's picture

Pinochets/I mean Pinochio's nose should basically be entering some hind quarter labeled US TAX PAYER!

Then the picture would be about right. 

And yes, without,,,, the courtesy of a reach around.

Put these A-Holio's in JAIL or worse.

Guatanamo/Folsom/Joliet sounds like a good start.

No Country Club lockup's for these folks.

Full Blown- BunkyTown for them.