Wednesday 15th January
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The CA State Bar’s Task Force, the OC District Attorney’s Office, Storm Trooper Tactics and Loan Modifications
Written on 23 Apr, 2010 at 5:12
Look... I don't know Christopher Diener, I've never met him, and I don't know anyone who has hired his firm to help with a loan modification. But here's what I do know... if he's guilty of some crime, then... (Continue reading)
Senate Investigation Says Banks Caused Crisis, Not Borrowers
Written on 22 Apr, 2010 at 13:45
As I've said what feels like a million times in a million different ways... it wasn't the borrowers, it was the banks, and what caused the crisis was that the banks broke the bond market... and it remains broken to... (Continue reading)
WaMu’s Top Gun Loan Officers Targeted Low-Income Minorities to Rob the Bank and the Nation
Written on 16 Apr, 2010 at 7:19
It would be one thing if the story of Tom Ramirez and Mario Loria at Washington Mutual's Loan Processing Center was nothing more than the story of two rogue mortgage bankers who gamed the system and got away with millions... (Continue reading)
Obama Asks for Help from Public to Reform Housing Finance System?
Written on 15 Apr, 2010 at 1:14
Do you suppose that next week he's going to ask if we have any thoughts on Afghanistan? Oh my God! I'm taking an Adivan. Who did he ask about health care reform? Oh my God! ... (Continue reading)
WaMu and We Don’t Lose Deals to Income!
Written on 14 Apr, 2010 at 5:55
Those are the words that were printed on a large banner that hung above the cubicles at Ameriquest Mortgage in Sacramento, California, according to an ex-employee of the now defunct sub-prime mortgage banking lender that was shut down by Citigroup... (Continue reading)
MANDELMAN’S MONTHLY MUSELETTER VERSION 7.0
Written on 13 Apr, 2010 at 7:57
1. Wells Fargo - Out of frying pan into fire. 2. Nicholas Cage Looses Home to Foreclosure and No One Bids at Auction. 3.Arizona Homeowners at Meeting on Stopping the Foreclosure. 5. Two Women Sentenced for Scamming... (Continue reading)
Judge Dismisses 110 of the Felony Counts Against Southern California Attorney Accused of Loan Modification Scam
Written on 12 Apr, 2010 at 17:05
You mean to say that the District Attorney prosecuting the case, who presumably had reviewed the evidence, made the decision to file the charges, had Mr. Diener arrested and then argued for a seven-figure bail amount, suggesting that he was... (Continue reading)
HAMP’s New Enhancements are Stupid and I’m Getting Tired of Stupid
Written on 10 Apr, 2010 at 20:43
They did it again, damn it. The Harvard contingent that's packed in like sardines in this administration once again demonstrated that they have no idea what they're doing when it comes to the foreclosure crisis.... (Continue reading)
Books I’ve Loved Reading: Freefall by Joseph Stiglitz
Written on 8 Apr, 2010 at 11:08
He points out, for example, that when you talk about a group that borrowed too much on the assumption that housing prices would never fall and sub-prime loans presented no risk, you're talking about the Wall street crowd. Some... (Continue reading)
The secret NPV formula used to qualify for HAMP loan modifications that no one is allowed to know. Transparency at it’s finest.
Written on 7 Apr, 2010 at 5:12
If your report says you don't qualify for HAMP, then you won't have to go down a path that requires you to make months of trial payments only to find your home in foreclosure anyway. At least you'll know... (Continue reading)
What We All Should Have Learned by Now About Loan Modifications
Written on 7 Apr, 2010 at 4:33
Okay class... if you've been keeping up with your reading assignments, then the following should be no problem for you to keep up with... but it also may cause motion sickness.... (Continue reading)