Why consider an expert witness in a wrongful foreclosure claim. And for sub prime and private label loans why Soliman? Its from 25 years of being on the inside, and knowing what short cuts taken caused lender stupidity & greed to collapse the industry.
expert.witness@live.com
Thank you for contacting me regarding housing market reforms and foreclosure prevention legislation. I recognize how important this issue is, and would like to share with you what Congress and the Obama Administration have done to help.
Like you, I am very concerned about this severe economic crisis, which has been caused in part by the declining housing market. As you may know, I supported the Emergency Economic Stabilization Act of 2008 (Public Law 110-343) to help ease the flow of credit and stabilize financial markets. As part of President Obama's efforts to reduce foreclosures, the Administration is using $75 billion of economic rescue funds to implement a mortgage modification program. Specifically, the modification program would require that mortgages in cases where refinancing is more cost effective than foreclosure be modified to make monthly payments more affordable.
Additionally, President Obama is implementing a systematic program through the government sponsored enterprises Fannie Mae and Freddie Mac to refinance loans into more affordable interest rates. This program targets homeowners who have lost equity due to the housing market decline, yet have not defaulted on their payments. I am hopeful that these programs will fulfill the President's promise to help American homeowners.
For further information about efforts that the Administration is taking to assist Americans during this difficult time, please visit www.makinghomeaffordable.gov and www.financialstability.gov.
Please know that I will keep your comments and suggestions in mind should further legislation to address our country's housing crisis come before the Senate.
Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at (202) 224-3841. Best regards.
Cash for Keys E FANNING $25,000 AND 90 DAYS STAY FROM EVICTION A real sad case of predatory lending practices by GMAC Borrower never could have afforded the loan. Counsel for the Defendant in foreclosure - None
Ask the Expert: Will Obama plan holds off a foreclosure
Obama plan holds off on foreclosure rescue details. Obama said he would announce his housing strategy in the coming weeks. Meanwhile, home prices are not expected to hit bottom until year-end at the earliest.
Americans are hoping President Barack Obama will have more success, especially as foreclosures continue to grow. A Credit Suisse report published late last year forecast up to 10 million foreclosures by 2012, depending on the severity of the recession.
The Obama administration is expected to back a push in Congress a opposed by the mortgage industry a to let bankruptcy judges alter the terms of primary home loans. Earlier this week, Obama said it "makes no sense" that judges are not allowed to do so. The mortgage industry argues that this prohibition allows lenders to charge lower rates.
m.soliman
expert.witness@live.com
Expert Witness & Winning a Wrongful Foreclosure Case
Thanks for visiting our web page. Lawyers and their clients who prepare to position themselves in a foreclosure mater will need insider experience on their side.
Attorneys who claim its an odds against losing battle are mistaken. Do not cling to a tradition of generations before us.
Want to fight a foreclosure? Know what your are arguing with respect to lenders, servicers, registrants and the investment "trustee". Good arguments may win however hard hitting facts to support non transparent practices witnessed first hand will establish arguments that cannot stand under scrutiny.
Not all lenders are wrong and not all claims will have standing. Its not a game of risk or chance and the court must be respected.
If there is a matter pending something that we can review and opine to and related to a wrongful recovery or deceptive business practice, please call us.
We don't practice law, but we are permitted to share with the professional and public what we know and what we have seen over the years and that is your advantage.
Expert.Witness@live.com
M.Soliman Expert.Witness Tel. 213-880-6288 Mail to: expert.witness@live.com
QuietTitleAction: A proceeding to establish an individual's right to ownership of real property against one or more adverse claimants.An action to quiet title is a lawsuit filed to establish ownership of real property (land and buildings affixed to land). The plaintiff in a quiet title action seeks a court order that prevents the respondent from making any subsequent claim to the property. Quiet title actions are necessary because real estate may change hands often, and it is not always easy to determine who has title to the property.
A quiet title suit is also called a suit to remove a cloud. A cloud is any claim or potential claim to ownership of the property. The cloud can be a claim of full ownership of the property or a claim of partial ownership, such as a lien in an amount that does not exceed the value of the property. A title to real property is clouded if the plaintiff, as the buyer or recipient of real estate, might have to defend her full ownership of the property in court against some party in the future. A landowner may bring a quiet title action regardless of whether the respondent is asserting a present right to gain possession of the premises.
For example, assume that the seller of the property agreed to sell but died before the sale was finalized. Assume further that the seller also gave the property to a nephew in a will. In such a situation, both the nephew and the buyer have valid grounds for filing a suit to quiet title because each has a valid claim to the property.
The law on quiet title actions varies from state to state. Some states have quiet title statutes. Other states allow courts to fashion most of the laws regarding quiet title actions. Under the Common Law, a plaintiff must be in possession of the property to bring a quiet title action, but many state statutes do not require actual possession by the plaintiff. In other states possession is not relevant. In some states only the person who holds legal title to the real estate may file a quiet title action, but in other states anyone with sufficient interest in the property may bring a quiet title action. Generally, a person who has sold the property does not have sufficient interest. When a landowner owns property subject to a mortgage, the landowner may bring a quiet title action in states where the mortgagor retains title to the property. If the mortgagee keeps the title until the mortgage is paid, the mortgagee, not the landowner, would have to bring the action.
The general rule in a quiet title action is that the plaintiff may succeed only on the strength of his own claim to the real estate, and not on the weakness of the respondent's claim. The plaintiff bears the burden of proving that he owns the title to the property. A plaintiff may have less than a fee simple, or less than full ownership, and maintain an action to quiet title. So long as the plaintiff's interest is valid and the respondent's interest is not, the plaintiff will succeed in removing the cloud (the respondent's claim) from the title to the property.
(ii) If Custodian determines that the documents in the MortgageFilefor a Delivered Mortgage Loan conform in all respects with Section3(b)(i),and unless otherwise notified by Buyer in accordance with Section3(b)(i),Custodian shall include such Mortgage Loan in the CustodialMortgage LoanSchedule issued to Buyer.
If the documents required in any Mortgagedonot conform (except as otherwise notified in Section 3(b)(i)),Custodianshall not include such Mortgage Loan in any Custodial Mortgage LoanSchedule. Custodian shall notify Sellers and Buyer of any documentsthatare missing, incomplete on their face or patently inconsistent andof anyMortgage Loans that do not satisfy the criteria listed above.Sellers shallpromptly deposit such missing documents with Custodian or completeorcorrect the documents as required by Section 3(a) or remove therelatedMortgage File from the Request for Certification.
On or prior tothePurchase Date and as a condition to purchase, except with respectto aWet-Ink Mortgage Loan, Custodian shall deliver to the Buyer anelectronicCustodial Mortgage Loan Schedule to the effect that the Custodianhasreceived the Mortgage File for each Purchased Mortgage Loan on theMortgageLoan Schedule and as to each Mortgage File, specifying any documendelivered and any original document that has not been received, andverifying the items listed in this Section 3(b).(c) As required by Section 3(a), Custodian shall deliver to Buyer,nolater than 3:00 p.m. Eastern Time on the related Purchase Date(provided, thatthe
Custodian has timely received the items required in Section2(b) herein),electronically or via facsimile, followed, if requested in writingby Buyer, byovernight courier, a Custodial Mortgage Loan Schedule havingappended thereto aschedule of all Mortgage Loans with respect to which Custodian hascompleted theprocedures set forth in Sections 3(a) and 3(b)(i) hereof andcertify that it isholding each related Mortgage File for the benefit of Buyer inaccordance withthe terms hereof.
Digg
EXPERT.WITNESS@LIVE.COM
Mortgage-Mess wrote... (1) The trustee, if the servicer is the seller, or the servicer will promptly notify the relevant seller of any breach of any representation or warranty made by it in respect of a mortgage loan that... Continue >> Mortgage-Mess wrote... The Supreme CourtIt appears that these decisions have begun to have an effect on the Supreme Court level with the recentdecision by Justice Louis B. York.4 In Higgins, the plaintiff sued an... Continue >> Mortgage-Mess wrote... CASE NUMBER:08U17459MATTER:WAMU VS SUTHERLANDTRIAL:IMMEDIATE STAY FROM ENFORCEMNT OF WRITCOURT: SUPERIOR COURT OF CA / LOS ANGEELSJUDGE:WILLIAM DODSON Sub Prime wrote... Appraisal negligence and/or fraud is overlooked by many. Appraisers are usually licensed and insured. Filing a complaint with the licensing board as well as sending a demand letter to them to forward... Continue >> Mortgage-Mess wrote... Cash for KeysE FANNING $25,000AND 90 DAYS STAY FROM EVICTIONA real sad case of predatory lending practices by GMACBorrower never could have afforded the loan.Counsel for the Defendant in foreclosure... Continue >>
For information on filing a claim and our terms for working with your lawyer, call us. Telephone number 310-765-7388.
Maher Soliman
Nationwide Loan Services.
Transparency is a major point of the Sarbanes Oxley legislation
Foreclosures are restrained temporarily or can be circumvented by 30 days of more to assist a borrower in default. A default is when a foreclosure process may begin. The Legislation in enforced under the controls set forth by act of the President and congress and enforcement by the Secretary of the Treasury, And with a year under our belt we see verifiable signs of the lenders gaining a financial foothold again.
Our observations are skeptical of the National governments apparently becoming terminally lost in its intended direction and to the people to whom it was intended. Once again we challenge the lender with a bigger role in circumventing the truth due in large part to the deceptive devices of Wall Street. We stand behind our allegations of clandestine secret financing arrangements. This great “sham” will live on well beyond the close of the decade in less than 13 months. Transparency is a major point of the Sarbanes Oxley legislation passed in 2002-2003 thanks in part to ENRON executives. Rigas, Adelphia's founder and former chairman and CEO, and his sons Timothy and Michael, face federal conspiracy charges as well as securities, bank and wire fraud charges. They each face up to 100 years in prison and millions of dollars in fines if convicted on all counts.
Ask The Expert: Trustee Letter to Quiet Title (for Counsel)
The letter was obtained from a recent case and written with the help of counsel.
Use it as a reference and be careful to never act on your on behalf without first consulting counsel.
Respectfully;
M. Soliman
Expert Witness
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DISCLAIMER
M. Soliman expert.witness services are available only for attorneys representing consumer clients. We do not normally provide case assistance directly to non-attorney consumers. By agreeing to a consulting arrangement, expert.witness is not undertaking representation of your client and is not establishing any form of attorney/client relationship.
Expert.witness offers testimony and cannot provide anything material regarding your case .
ASK THE EXPERT: WHAT IS LOAN MODIFICATION HELL
People are confused by the lenders lack of willingness to fulfill promises and why they appear sincere and then stall. Modification offers and terms for qualifying these loss leader offers are NOT genuine or even POSSIBLE.
I cannot tell you how many clients have seen leave our effort and forego our strategy and testimony after buying into lenders misrepresentations. These clients have also pursued counsel and were never heard from again. Their lawyers likewise believed they could compel a lender into a modification.
NO ONE CAN OFFER A LOAN MODIFCATION OTHER THAN A LENDER. THE PARTIES YOU’RE SPEAKING TO ARE NOT A LENDER BUT PARTIES REPREPSENTING THE SELLER OF YUR LOAN.
I can only professionally opine and remain steadfast to the primary most damaging argument available to consumers over all other arguments.
ARGUMENT: According to GAAP accounting rule FAS 140 and revised 140-3 under FASB pronouncements you will find a crippling lender reporting requirement. FAS 140 cause the lender as a seller who transfers your loan into a securitization to FOREVER lose all control of the asset.
A sellers lack of adherence to the rules for FAS 140 are undeniable whereby a registrant is required to publish its assets acquired and annual earnings in public records for the year the loan is sold .
Lenders cannot grasp the fact that an accounting rule is enforceable whereby they see the sale provision for reporting as merely an accounting necessity. It’s an accounting requirement that no doubt MANDATES seller adherence solely for derecongnition regardless of the circumstances.
And by that I mean that derecongnition may be the single greatest financial error in US history to have ever occurred.
M.Soliman Witness to Counsel Tel. 213-880-6288 Mail to:"expert.witness@live.com"
Experts Corner: Another FDIC Bank Failure
American Marine Bank
News of another FDIC member bank falling under the FDIC control was published late this week. The “EmeraldCity” is the latest to be welcomed back to join the party! Characteristic of the FDIC bulletins that we have come to be familiar with in 2008 and 2009, we are told if you had a loan with American Marine Bank, the friends and family members at the FDIC want you to continue to make your payments as usual.
Our question is to whom? Who is the holder in due course?The purpose of this analysis and discussion of the FDIC are subject to the various parties’ who have interest in your loan. It’s about their representations, conduct and decisions made while enforcing a foreclosure. Making a bad decision or employing conduct viewed to be deceptive will cause any transaction or enforcement of a right to a security to be rendered voidable.
Furthermore the asset may suffer from malfeasance and willful error and omissions causing the loan to be valued far below its market value due to serious impairment. Successfully demonstrating in court the reasons why your loan has become so seriously impaired that the real security, a deed of trust or mortgage, will fall into a judicial abyss and subject the true holder in due course to lose its rights to in a recovery of the asset in a foreclosure. In other words the right to accelerate and foreclose becomes lost to the transaction
Your loan was likely sold after it originated. A sale of the asset versus a government backed insurance guaranty is the single most controversial component of the subprime lenders dilemma.
A bonifide sale and transfer must be evidenced which differentiates the private label loans from the GSE or Fannie Mae and Freddie Mac class of loans delivered to Wall Street.
In a true sale the lender who sold it is lost to the privileges and rights to the asset forever. So I guess the question is not so much about a foreclosure due to a breach and delinquent obligation. This discussion is for us to understand to “whom” you owe the money and what right do they have to enforce the obligation and right to foreclose? Lawful Transfers
A “transfer” is the “streets” vernacular for booking a sale of a loan or pool of loans. The transfer of an asset by the lender to a less than arms investor is routinely conducted solely for accounting purposes. None the less it’s a sale that is forever entered in to the books.
The purpose of this analysis and discussion of the FDIC are subject to the various parties’ representations and decision making that may cause the asset to become so impaired that the real security, a deed of trust or mortgage becomes lost to the transaction. My last sale as a trader was a transfer of a bulk pool of “toxic waste” was back in 2001. The loans acquired and sold under my direction were never really that bad as we had one of the lowest delinquency rates in the region for sub prime assets sold and serviced. What I do know or at least remember from my days of bulk whole loan trading was from selling to the same major market leaders who are in trouble today.
Let’s back up for a moment to consider how accountants arrive at a specific value. A valuation is necessary for a foreclosure to take place just as it is for the original loan to be sold. A sale involves a contract and the essential elements f the law amongst the two parties. The first is consideration (money) and the second is the intent of the parties for lawful exchange and or transfer.
Consideration is required for transferring any good or service amongst one party to another, including a sale of a bulk pool of mortgage loan receivables.
If a mortgage is valued at par then you typically measure its worth at the combined cost to date or basis in the asset. A true and more accurate valuation is based upon the market and what one will pay assuming demand. It’s the true inherent value of a gallon of milk that will force someone to go elsewhere or not to drink milk at all. The same rationale holds true for an asset such as a closed mortgage receivable subject to its ability to attract a fair price in an open market. A mark to market value is entered by an accountant prior to sale if the owner is seeking to value the worth of the assets it holds.
Estimating value based on the future worth of an asset is something that continues to attract criticism whereby a historical valuation is entered based on a discounted future value. A presumption of value is calculated in a variety of ways sometimes using an internal rate of return offset by depreciation. In the mortgage industry I call this type of valuation complete lunacy. And this is where things get interesting with taking a look back at the cause of the mess we are now in.
Generally Accepted Accounting Principals aka “GAAP” allows us a standard to apply a historical value on a loan which is necessary for estimating consistency as with the life of a loan. The terms of the note say 30 years but we know that homeowners rarely keep a loan to term. Valuations use variables such as prepayment velocity or life based on a traditional or historic early payoff.
The CPR is the measurement of prepayment speed determine from reversion (sale of a home) refinance or the opposite end of the spectrum which is delinquency and default. Mortgages originated over the last decade were attributed an estimated holding time or CPR of say 60 months. Other things that influence price and for understanding the lenders desire to become fixated with the sub prime mortgage sector are subject to ethical scrutiny. I am referring to extreme maximum leverage used to buy loans and the introduction of something called accounting practices such as derecongnition. The latter is suspect, according to many accountants, as it offer no real value to a transfer and subject to entering a “gain on sale.”
The "streets" ability to substantiate its reporting methods. The Expert Witness must have among other things a legal understanding and verifiable accounting practices background. So figure an offshore investor will take a coupon of 1% at twice the current alternative which was a US Treasury. So I guess a WAC of 8% would yield on $100,000 certificate up to $800,000 in capital investment. Or is that $100,000 yielding 8 separate $100,000 certificates?
What ever it is its six of one and half a dozen of the other. It makes me want to run to the Hampton's and buy the biggest home they can offer. It makes me want to find the worse of the worse credit and put them into a loan.....any loan.
The problem with this madness conducted under the great GWB (and side kick “Don't call me Cheney call me "Dick”) administration is the regulatory absence for the bubble Wall Street elite would eventually pop.
The money raised was at a huge multiple and was causing CDO product to suffer from heavy demand internationally in a market that had long exceeded capacity. ( . . . .It makes me cringe and recall the old Keystone Kops silent flicks; remember the morons running around that said nothing and were always trying to help while and causing even more chaos …..Anyway!
I cannot pinpoint of fully grasp the role of the FDIC here but fear we may have an accounting play that shows the bank lines were actually used as “paid in capital” . It’s called derecongnition under GAAP and FASB accounting pronouncements for isolating the source and use of funds.
Will this help your arguments to save your home? YOU BET IT WILL! The big question is where the logic here is and why would the bank regulators let this happen? These Pretender Lenders were not pretenders at all. I call them “Tender Lenders” who tendered a note like currency instead of parking it in a vault like the asset it is. Therefore when tendered the check is electronically debited (hmm) and treated like a cancelled check.
The lost note is not a coat lost by a child at school. It’s lost to the payee who failed to deliver to the payor that check evidencing a debit stamped paid in full.
Hey, Barney just a minute . . . Hey, Wilma I’m home!!!!! So lets say these guys raised volumes of cash at huge multiples and did so with FDIC capitalization or tax payer insured capital contributions into a “NewCo” or De novo or S*P* E*.
If so, I feel the SPE is more like an STD and its all absolute "Bull Crepes". Where did these guys put all the capitalization anyway from money and stock…Huh? Especially with all these stringent FDIC risk weight capital set aside requirements. It’s a regulatory capital priority and basic fiscal mandate enforced by the OTS.
I got to know, where did they "Deposit" the money and stock ...do you know? I am referring to the "Deposits by the Wall Street “Depositors” you see. Deposited, Depositor, Depository, Restroom, tell me Wendy! Where’s the beef! Howard, who goofed I must known, who goofed!
Hey! ....wait a minute!!!....D*E*P*O*S*I*T*O*R*S! Yikes…OMG! How much more can we take!
So back to the failure of another institution, one of Americas and Pacific Northwest’s finest! American Marine Bank. So who do we bring an action against now? FDIC say’s “for all questions regarding “new” loans and the lending policies of the new successor call Columbia State Bank, and to please contact your branch office.
They continue that shares of American Marine Bank were owned by its holding company, AMB Financial Services Corporation, Bainbridge Island, WA. The holding company was not included in the closing of the bank or the resulting receivership. So if you are a shareholder of AMB Financial Services Corporation, please do not contact or file a claim with the Receiver. You may contact AMB Financial Services Corporation directly for information. How convenient is that….a BK waiting to happen.
The FDIC claims it does offer a reference guide to deposit brokers acting as agents for their investor clientele. This web site outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance coverage on custodial accounts deposited in a failed FDIC Insured Institution. Wait a minute here now just slow down. FDIC makes no mention of a lender consumer grievance, and tells us to call the broke parent of the bank. Now are these loans in question considered FDIC troubled assets? Okay, we cannot help you with a predator loan but we will be back to foreclose on you?
My heart is pounding right now and I cannot take anymore folks…..really! But on a more serious note, consider the following. A bad notary signature, broken promise by a “Tender Lender” or forged MERS document is not the argument to bet the house on (no pun intended) It won’t get you to the promised land so can the need for an audit. It won’t get you to the Promised Land, so here is my advice!
SAVE YOUR MONEY! . . . UNLESS YOU WANT TO BORE THE HELL OUT OF A JUDGE AND GET THROWN OUT OF COURT.
It’s time to step up or step down!
By "Toxic Waste Guru" (LOL)
M.Soliman
expert.witness@live.com
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Contact us for more information
Counsel - Is your foreclosure claim going nowhere? Having problems with the lender who is foreclosing or is your counsel requiring something more from an insiders perspective - then call us.
I am a 25 year secondary and bulk whole loan specialist and offer insider knowledge that you may not get from an attorney alone. You have rights an attorney can advise you on. But the facts you need to prevail require and insiders view when in court.
Our testimony is intended to offer counsel substance and standing to bring an action in the matter of a wrongful foreclosure / SEC violations and accounting irregularities. Contact us for more information Tel 213-880-6288 or Mail us at borrowerhotline@gmail.com
Winston Churchill Quotes
The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is.
WELCOME GRANADA HILLS
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(a) In the event that a trustee under a deed of trust isnamed in an action or proceeding in which that deed of trust is thesubject, and in the event that the trustee maintains a reasonablebelief that it has been named in the action or proceeding solely inits capacity as trustee, and not arising out of any wrongful acts oromissions on its part in the performance of its duties as trustee,then, at any time, the trustee may file a declaration of nonmonetarystatus.
The declaration shall be served on the parties in the mannerset forth in Chapter 5 (commencing with Section 1010) of Title 14 ofthe Code of Civil Procedure. (b) The declaration of nonmonetary status shall set forth thestatus of the trustee as trustee under the deed of trust that is thesubject of the action or proceeding, that the trustee knows ormaintains a reasonable belief that it has been named as a defendantin the proceeding solely in its capacity as a trustee under the deedof trust, its reasonable belief that it has not been named as adefendant due to any acts or omissions on its part in the performanceof its duties as trustee, the basis for that knowledge or reasonablebelief, and that it agrees to be bound by whatever order or judgmentis issued by the court regarding the subject deed of trust. (c) The parties who have appeared in the action or proceedingshall have 15 days from the service of the declaration by the trusteein which to object to the nonmonetary judgment status of thetrustee.
Any objection shall set forth the factual basis on whichthe objection is based and shall be served on the trustee. (d) In the event that no objection is served within the 15-dayobjection period, the trustee shall not be required to participateany further in the action or proceeding, shall not be subject to anymonetary awards as and for damages, attorneys' fees or costs, shallbe required to respond to any discovery requests as a nonparty, andshall be bound by any court order relating to the subject deed oftrust that is the subject of the action or proceeding. (e) In the event of a timely objection to the declaration ofnonmonetary status, the trustee shall thereafter be required toparticipate in the action or proceeding.
Additionally, in the event that the parties elect not to, or failto, timely object to the declaration of nonmonetary status, but laterthrough discovery, or otherwise, determine that the trustee shouldparticipate in the action because of the performance of its duties asa trustee, the parties may file and serve on all parties and thetrustee a motion pursuant to Section 473 of the Code of CivilProcedure that specifies the factual basis for the demand. Upon thecourt's granting of the motion, the trustee shall thereafter berequired to participate in the action or proceeding, and the courtshall provide sufficient time prior to trial for the trustee to beable to respond to the complaint, to conduct discovery, and to bringother pretrial motions in accordance with the Code of CivilProcedure. (f) Upon the filing of the declaration of nonmonetary status, thetime within which the trustee is required to file an answer or otherresponsive pleading shall be tolled for the period of time withinwhich the opposing parties may respond to the declaration. Upon thetimely service of an objection to the declaration on nonmonetarystatus, the trustee shall have 30 days from the date of servicewithin which to file an answer or other responsive pleading to thecomplaint or cross-complaint. (g) For purposes of this section, "trustee" includes any agent oremployee of the trustee who performs some or all of the duties of atrustee under this article, and includes substituted trustees andagents of the beneficiary or trustee.
What is a cloud on title? A cloud is any claim or potential claim to ownership of the property. They can differ in pleading from one to another whereby the cloud can be a claim of full ownership of the property. Another example is where the claim is for partial ownership, such as a lien in an amount that does not exceed the value of the property.
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Expert Witness and Counsel
The rules of evidence are something to be cognizant of for the expert providing testimony as witness. It is especially true with any engagement where the opposition will seek to cross exam and even discredit the witness.
These are just a few of the many concerns for valuable testimony becoming thrown out of court. You must gain confidence in the the evidence and then present the information in accordance with the courts instructions.
We offer 25 years of sub prime lending, secondary and capital markets experience. Its what you do not know that is hurting you in fighting a foreclosure. The best attorneys need us where there is no understanding of the inner buisness dealings that often take place in super lender offices after hours .
William Black of FIERRA and S&L fame calls the mess a fraud that makes Bernie Madoff look like a piker.
We work for you and your attorneys and we can also assist consumers pro per representing themselves.
So do call us with questions and for rates. Our work is not to be construed as consulting and no need for an audit. Please save your money. Under California recent initiatives there may be more chaos now than ever. This is a problem for the witnesses in this difficult sector of finance.
Also remember, only an attorney can assist you with understanding fully what you rights really are. Those rights must be protected.
We are not an attorney referral service but expert witness to the civil and criminal behavior Wall Street and with main street lenders. and we do provide advance work for borrowers who represent themselves in negotiating a workout or modification. We will work with the client direct until it is truly time to engage an attorney who can stand in under a normal engagement to assist you in the matter.
For more information on expert witness services and rules of engagement, evidence and for providing testimony
LUCILLE ROYBAL-ALLARD Member of CongressWashington, D.C., Office: 2330 Rayburn House Office Building Washington, DC 20515 Phone: (202) 225-1766Fax: (202) 226-0350
Dear Maher:
Knowing you interest in housing issues, I want to take this opportunity to update you with my views on the foreclosure crisis, FHA loan limits and down payment assistance.
I strongly believe that FHA-backing of mortgages is one of the most significant steps we can take to address the current foreclosure crisis. As you are aware, while the Economic Stimulus Act temporarily increased the FHA-insurable loan limit to $729,000, if further action is not taken, the limit will fall to $362,000 at the end of this year.
This level is far too low to make a difference in California where the cost of a home greatly exceeds the national average.
I continue to support down payment assistance programs that allow low-income families to afford decent housing without have to sacrifice other essentials like food, clothing, healthcare, or a child's education. Families should not be forced to choose between these basic needs when budgets are tight.
You will be pleased to know that on May 8, 2008, I voted in support of the Foreclosure Prevention Act of 2008 (H.R. 3221), which was signed by the President and became public law on July 30, 2008 . This housing stimulus includes an expansion of the FHA program, and also permanently raises the FHA loan limits.
You may be assured that as your representative in Congress and as a member of the House Appropriations Subcommittee on Transportation, Housing and Urban Development with funding jurisdiction over housing programs, I will continue to represent your views as Congress continues to take steps to help homeowners and homebuyers avoid foreclosure.
Once again, thank you for contacting me. I look forward to hearing from you in the future on this and on other issues of importance to our community, our state, and our nation. Sincerely
WHY IS SOLIMAN A HARDLINER AGAINST LENDERS - .HE WAS ONE OF THEM!
The Other Real Estate Crisis Newsweek Voices - Daniel Gross ... Jan 9, 2008 ... This information is offered by Maher Soliman, the web site ... unity is not yet complete Angela Merkel on Berlin Wall anniversary CNN ...www.newsweek.com/id/87984 - Cached - Similar - Recession-Proof Real Estate? Newsweek Business Newsweek.com Jan 30, 2008 ... Saw somthing on TV - Maher Soliman, the managing Director for a ... unity is not yet complete Angela Merkel on Berlin Wall anniversary CNN ...www.newsweek.com/id/106188 - Cached - Similar - Stumper : BAILEY: With McCain and the Economy, Is the Third Time ... - Nov 7 Here's my NEWSWEEK colleague Holly Bailey with a report from the McCain caravan in ... According to Maher Soliman, an analyst with www.borrowerhotline.com ...blog.newsweek.com/.../bailey-with-mccain-and-the-economy-is-the-third-time-the-charm.aspx - Cached - Similar - CNN Political Ticker: All politics, all the time Blog Archive ... May 7, 2008 ... Newsweek article said that one of the members of the Illinois State Senate wanted to run for the U.S. Senate. ...... By BRODY MULLINS and KRIS MAHER May 5, 2008; Page A1 ...... Khaled Soliman, May 7th, 2008 4:44 pm ET ...politicalticker.blogs.cnn.com/.../blitzer-what-would-you-like-me-to-ask-barack-obama/ - Similar - BorrowerClaims: WHY MORTGAGE SECURTIZATION DOES NOT WORK - Nov 7 Jan 7, 2009 ... According to Soliman, “I changed my views and no longer see the problem ... news organizations (Newsweek, CNN and MSNBC) over the internet. ...borrowerclaims.blogspot.com/.../why-mortgage-securtization-does-not.html - Similar - SubPrime Expert: 06/01/2008 - 07/01/2008 Real Estate: Making Mortgage Loan Counseling Mandatory Newsweek Voices ..... Telephone number 310-765-7388. Maher Soliman Nationwide Loan Services. ...www.foreclosureinfosearch.com/2008_06_01_archive.html - Cached - Similar - Foreclosureinfosearch / Call Us 310-765-7388: Newsweek Samulson ... According to Newsweek published report / Samulson: Retail sales dropped 1.2 ... Maher Soliman, analyst for consumer homeowner website said "Samuelson is ...www.foreclosureinfosearch.com/.../newsweek-samulson-storyline-comments.html - Similar - Show more results from www.foreclosureinfosearch.com Yahoo! 360° - Entries tagged "cnn" By Maher Soliman January 30th 2008 / For Immediate Release; ... Tags: foreclosure, countrywide, bankofamerica, newsweek, cnn, latimes ...blog.360.yahoo.com/blog-OUNCBoQifqUOW48iXYNCSEwZyrLGqcjE1Kc-?...cnn - Similar - Stop Foreclosure! www.borrowerhotline.com Mar 20, 2008 ... Issue #1 - America's Money: All this week at 12 pm ET, CNN explains how .... Maher Soliman, Managing Director for www.Borrowerhotline.com ...borrowerhotline.blogspot.com/ - Cached - Similar -
COUNTRYWIDE HOME LOANS INC
DEPOSITOR: CWALT, Inc. is a limited purpose finance subsidiary ofCountrywide Financial Corporation. 4500 Park Granada,Calabasas, California91302, (818) 225-3000. SELLER - Countrywide Home Loans, Inc. will be the seller of a portion of the mortgage loans. The remainder of the mortgage loans will be sold directly to the depositor by one or more special purpose entities that were established by Countrywide Financial Corporation or one of its subsidiaries, which, in turn, acquired those mortgage loans directly from Countrywide Home Loans, Inc. MASTER SERVICER - Countrywide Home Loans Servicing LP TRUSTEE- The Bank of New York
SUMMARY OF EVENTS
(1) The trustee, if the servicer is the seller, or the servicer will promptly notify the relevant seller of any breach of any representation or warranty made by it in respect of a mortgage loan that materially and adversely affects the interests of the security holders in the mortgage loan.
The master servicer will make cash advances with respect to delinquent payments of principal and interest on the mortgage loans to the extent the master servicer reasonably believes that the cash advances can be repaid from future payments on the mortgage loans. These cash advances are only intended to maintain a regular flow of scheduled interest and principal payments on the certificates and are not intended to guarantee or insure against losses.
The depositor, CWALT, Inc., will purchase the mortgage loans in the mortgage pool from Seller’s Countrywide Home Loans, Inc. and one or more other affiliated with Countrywide Financial Corporation.
(each of which is referred to in this prospectus supplement as a “Seller” and together they are referred to as the sellers)
pursuant to a pooling and servicing agreement, dated as of October1, 2005, among the sellers, Countrywide Home Loans Servicing LP, as master servicer, the depositor and The Bank of New York, as trustee, and will cause themortgage loans to be assigned to the trustee for the benefit of the holders of the certificates.
In this prospectus supplement, the mortgage loans in loan group 1 and loan group 2 are referred to as the "GROUP 1 MORTGAGE LOANS" and the “GROUP 2 MORTGAGE LOANS", respectively, and together they are referred to as the“MORTGAGE LOANS".
Under the pooling and servicing agreement, Countrywide Home Loans will make certain representations, warranties and covenants to the depositor relating to, among other things, the due execution and enforceability of the pooling and servicing agreement and certain characteristics of the Mortgage Loans.
In addition, each of the sellers will represent and warrant that, prior to the sale of the related Mortgage Loans to the depositor, the applicable seller had good title to the Mortgage Loans sold by it. Subject to the limitations described in the next sentence and under "-- Assignment of the Mortgage Loans," Countrywide Home Loans (or the related seller, in the case of the representation regarding good title) will be obligated to repurchase or substitute a similar mortgage loan for any Mortgage Loan as to which there exists deficient documentation or as to which there has been an uncured breach of any representation or warranty relating to the characteristics of the Mortgage Loans that materially and adversely affects the interests of the certificateholders in that Mortgage Loan.Countrywide Home Loans will represent and warrant to the depositor in the pooling and servicing agreement.
We offer a secondary and capital markets material violations approach to assist counsel and client by providing testimony in wrongful foreclosure claims.
You need to be aware of the issues that surround foreclosure as you continue to fight. It'snot HUD but the arguments falling under the OTS, FDIC OCC and SEC that we pursue.
Foreclosures fell month-over-month but are still up nearly 20% compared with a year ago. Plus, Las Vegas wasn't the worst-hit city in November.
By Les Christie, CNNMoney.com
Last Updated: December 10, 2009: 7:18 AM ET
NEW YORK (CNNMoney.com) -- Foreclosure filings fell by 8% in November, making it the fourth consecutive month of improvement in the housing market.
There were 306,627 filings last month, according to RealtyTrac, an online marketer of foreclosed properties. That decline follows a 3% drop in October, 4% in September and 1% in August.
"Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded homebuyer tax credit, are keeping a lid on the most visible symptoms of the nation's ailing housing market -- foreclosures and home value depreciation," RealtyTrac CEO James Saccacio said in a prepared statement.
However, while there are signs of improvement, the industry has yet to turn around: Foreclosure filings were still a lofty 18% above November 2008's levels.
"This is providing a welcome respite for the real estate industry, but a full recovery will only come when unemployment recedes to normal, healthy levels and when availability of credit reaches a more rational balance between the extremes of the past few years," Saccacio said.
Additionally, RealtyTrac spokesman Rick Sharga isn't convinced the decline is a natural outgrowth of improved market conditions.
"I really don't believe we're looking at a trend that suggests the problem is going away," he said. "Much of the drop was artificially induced."
He attributes the stabilization to mandatory mediation programs that some states have introduced. For example, in Nevada, where filings have declined for three months in a row, lenders are required to go through mediation with borrowers before moving forward with foreclosure documents. In many cases, Sharga said, these programs just delay the inevitable.
But there has been some real help for turning the foreclosure tide. One factor has been a firming up of home prices. The S&P/Case-Shiller Home Price Index has reported five consecutive months of improved prices through September.
As a result of this mild upswing in prices, fewer homeowners owe more than what their homes are worth, a status known as being underwater. Zillow, the online appraisal service, reported recently that the proportion of underwater homeowners dropped to 21% at the end of September from 23% at the end of June.
Home sellers have also grown more confident. The real estate Web sites Trulia and ZipRealty both reported that fewer home sellers are slashing their listing prices. Trulia said that 22% of homes currently on the market as of Dec. 1, 2009 had gone through at least one price cut, the lowest level since Trulia started tracking price reductions in April 2009.
ZipRealty said the average home in 27 markets it covers was discounted $23,953 in November, a 3% smaller discount than prevailed a month earlier.
Even with gain, there's still pain
All those positive signs do not mean that there's no foreclosure pain. RealtyTrac reported 76,701 homes were repossessed during the month, only a tad down from the 77,077 lost in October. For the year, there have been a total of 777,630 properties taken back by banks.
The "sand states" -- Nevada, Florida, California and Arizona -- continued to amass the largest numbers of foreclosure filings with Nevada the hardest hit state of all. One of every 119 households had a filing in November, nearly four times the national average of one for every 417.
Florida had one for every 165 households, California one for every 180, and Arizona one for every 186.
There was a bit of surprise among the worst hit cities. Las Vegas dropped out of the top spot it has occupied for the past four months. A 33% decline in filings to one for every 102 housing units put it in fifth place. Instead, Merced, Calif., took over the top spot with one filing for every 83 homes. Following Merced was Stockton, Calif., one for every 85; nearby Modesto, one for every 87; and Cape Coral, Fla., one for every 96.
critical testimony that gives you a distinct advantage
The problems plaguing the mortgage industry are lender issues unrelated to your delinquency and due in part to securitization. This is the primary cause for mass foreclosures.
To fight back there are strong rebuttal defenses.
Why would you or your attorney want to guess at what the underlying problems are. Twenty five years later we are here to say --- there is a lot wrong with these foreclosures!
We provide critical testimony that gives you a distinct advantage in court.
Why You Should Know If Your State has A Home Equity Contract Statue
Some state, most notably California, have home equity sales contract statues that were enacted to prevent buyers from taking unfair advantage of homeowners in foreclosure. A buyer must include a right of recission notice of cancellation clause in the contract.
Only an licensed attorney can offer or provide legal advice.
Maher Soliman accepts no responsibility for written material, general opinions, comments, open answers and non binding responses to questions when providing information. Only an attorney licensed in the state can offer or provide legal advice. The content herein and found on line and part of web site content is for entertainment and scholarly informational purposes only. Consult an attorney whenever your rights are in question and you or someone you knonw requires the expertise of legal counsel.
1 comments:
Cash for Keys
E FANNING $25,000
AND 90 DAYS STAY FROM EVICTION
A real sad case of predatory lending practices by GMAC
Borrower never could have afforded the loan.
Counsel for the Defendant in foreclosure - None
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