The Better Business Bureau, the State Bar, Loan Mods & Lawyers in California
Without question, that erroneous statement made by the Bar’s president continues to cause significant harm to the legal profession and to the numerous licensed and ethical attorneys in California who want to help, or do offer to help homeowners get their loans restructured. ...
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Wells Fargo gives $22,000 to Suicide Hotline… A gift the bank can use too.
Wells Fargo “stepped up” with a $22,000 “gift.” Is that how that should ideally be phrased? I suppose it’s fine. But, having spent the last few days writing and talking about Norm Rousseau, who took his own life this past Sunday after a protracted battle with… no,...
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A Letter to Brian Stevens at TBWS: We Need More Houses?
Just to make sure I understand what you said there… the problem is that there aren't enough homes for people to buy? We're having a shortage of houses for sale, are we? Wow… you know, I was sleeping and woke up to today's TBWS video and for a...
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Husband’s Suicide Yesterday, Wells Fargo to Evict Wife Tomorrow Anyway
You’re a liar, Wells Fargo. Either you knew you weren’t going to approve their loan modification, or you’re the most incompetent financial institution in the history of the world. And you don’t just do this sometimes, you do this all the time… and especially to people in their...
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Jamie Dimon tells Meet the Press he thinks we’re resenting “success.” He’s wrong.
Dimon was quoted as having said that just because his bank had been stupid, it didn’t mean that all the other banks would be equally stupid. But, see… it sort of does, right? That’s why the sort of risk we’re talking about is termed, “systemic,” right? That’s...
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California Homeowner in Foreclosure Wins Quiet Title – It’s a Free House!
For one thing, filing quiet title did work out well for Denise Saluto, and since I would never have predicted it happening in her case, I’m certainly not going to tell you it won’t happen again in yours, because as I said earlier… I don’t know why it happened. ...
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Debt Forgiveness – The IMF, Iceland, and the U.S. of the 1930s all say it works
Iceland’s mortgage write-down program happened as a result of thousands of its citizens taking to the streets demanding that something be done about the debts the people had incurred buying homes during the bubble at what turned out to be wildly inflated prices. At one point, they surrounded the...
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Bar Defense Atty David Carr Exposes the CA Bar on Scammers and SB 94 – A MM Podcast
If you're a lawyer or real estate licensee that has been involved in helping homeowners save their homes from foreclosure over the last few years, or a homeowner struggling to understand the crisis at hand... I PROMISE... YOU DO NOT WANT TO MISS THIS... MANDELMAN MATTERS PODCAST with David Cameron Carr....
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An Insider’s View of an Actual RMBS Securitization at Mandelman U.
What follows below are slides from an actual presentation of a Residential Mortgage-backed Securities - RMBS/REMIC deal... but NOT the slides from a "road show" presentation to potential investors... what you're about to see are slides from an INTERNAL meeting that was actually held back in February of 2006 when...
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If WE owned a pool of loans… would WE allow principal reductions?
To really understand what happens when trying to determine the present and future value of a pool of loans within a mortgage-backed security, let’s put ourselves in the place of the investors… we’ll be investors together… and we’ll want to start when the pool was born… a primordial pool, if...
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