Wednesday 4th December
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Some of Lynn Szymoniak’s Millions May Belong to Someone Else
Written on 16 Sep, 2013 at 8:39
And I can say that, in my opinion, regardless of the outcome... AT BEST... Lynn Szymoniak handled the situation very, very poorly. And, AT WORST... her behavior was deceitful to the point of being unconscionable, and a total abdication... (Continue reading)
What is Strategic Default? A Moral Dilemma?
Written on 21 May, 2012 at 7:06
What is a strategic default? These days, it occurs to me, there would be even less morality involved in the decision to walk away from a mortgage. I can't believe anyone actually feels morally obligated to a bank today.... (Continue reading)
What’s wrong with your loan? Jay Patterson on a Mandelman Matters Podcast
Written on 19 May, 2012 at 20:26
Jay Patterson teaches lawyers how to use the SEC Edgar database, among others, in order to find out who owns a loan. How to identify the trust a loan is in and find the Pooling and Servicing Agreement. how... (Continue reading)
New Jersey Supreme Court’s Guillaume decision meaningless – Should foreclosure defense rethink its strategy?
Written on 1 Mar, 2012 at 11:02
Why is there no effort to hold the administration and member of Congress accountable for what has clearly been their failure related to the federal government's loan modification initiative? Why are we accepting such utter failure and holding them... (Continue reading)
Credit Suisse Tells Bloomberg: “Mortgage Principal Cuts Don’t Help Homeowners?”
Written on 22 Jan, 2012 at 18:53
Reducing mortgage balances is a risky idea that hasn't been shown to keep borrowers who owe more than their property's worth in their homes, according to Credit Suisse Group AG. (CSGN). Suspending accounting rules is a risky idea that hasn't been... (Continue reading)
Obama’s New Plan to Help Housing Isn’t Worth Waiting For
Written on 22 Oct, 2011 at 8:17
Even Edward J. DeMarco, acting director of the independent Federal Housing Finance Agency says his fix will be more of a tune-up than an overhaul, with reduced "frictions" and "enhancements."... (Continue reading)
Treasury Official: “HAMP’s Incentives Meaningless” – SO, PROGRAM WASTED $560 MILLION?
Written on 9 Jun, 2011 at 21:59
If that's the case, and I have no reason to believe that it isn't, then I would only like to suggest that perhaps some of the millions eligible for withholding could have been withheld prior to paying them the $560... (Continue reading)
The Luckiest Bankers the World Has Ever Seen! And They’re Ours! Yay!
Written on 3 Jun, 2011 at 3:35
Assuming you were such an adept trader of securities that you had a 70% probability of making money on any given trading day, which would, by the way, pretty much make you a God of Wall Street... the odds that... (Continue reading)
Hey Everybody… It’s “Pretend You’re Surprised About the Economy Day!”
Written on 1 Jun, 2011 at 9:51
Falling Home Prices, the Next Financial Crisis is Near, Defaulters Aren't Deadbeats After All, the Economy with Gwen Ifill and MERS has No Clothes.... (Continue reading)
Over There… Over There… Send The Word, We’ll Foreclose, While You’re There
Written on 16 May, 2011 at 18:52
So, what exactly is the problem here, banker-people? Don't you have enough homeowners under consideration for a loan modification that you can foreclose on without notice that aren't active duty military? No one, save a handful of foreclosure... (Continue reading)
Bank of America’s “Tasmanian Devil” says we shouldn’t be thinking of our homes as “assets”.
Written on 18 Apr, 2011 at 22:41
Now, if all of that weren't enough to make the case for Bryan Moynihan being this month's REAR, here's what really got me started on him in the first place. Last month, at the 2011 National Association of Attorneys... (Continue reading)
BoA’s Bad Bank – Pay No Attention to the 6.7 Million Loans Behind the Curtain
Written on 13 Mar, 2011 at 23:57
See, these are the kinds of things that make me afraid of the world around me... like, now I don't want to even leave my house. Does stuff like this work on "investors?" What... are the "investors" he... (Continue reading)
Bankers Apoplectic Over Arizona’s Republican Dominated Senate Passing Chain of Title Bill, 28-2
Written on 24 Feb, 2011 at 23:37
The only reason this bill is being pushed through the Arizona legislature is that one of that state's senators actually tried to rescind her own predatory loan and found out first hand what it's like to have to deal with... (Continue reading)
U.S. Breaks Housing Price Decline Record Set During Great Depression
Written on 14 Jan, 2011 at 20:36
According to RealtyTrac, 1,050,500 homes we repossessed by banks last year.So, for those that think foreclosures are somehow a good thing, I guess congratulations are in order. For those not afflicted by such diminished cognitive abilities, I can only... (Continue reading)
Bringing Up the Rear: Senator Christopher J. Dodd
Written on 19 Sep, 2010 at 17:20
Now that Elizabeth Warren has been appointed to the post, albeit temporarily, support her with whatever support you can offer, Senator Dodd. Let the ones that oppose Elizabeth Warren stand naked in the light. And the American consumer....... (Continue reading)
Obama Administration in a Scramble to Do Something Right for Housing Market
Written on 13 Sep, 2010 at 7:54
Most of the suits allege that the trial modification plans are contracts, and that Bank of America and every other servicer broke them by not granting permanent modifications to homeowners who made their trial payments on time and provided the... (Continue reading)
MANDELMAN’S MONTHLY MUSELETTER – VERSION 8.0
Written on 30 Jun, 2010 at 9:05
This month in Mandelman's Monthly Museletter: 1. Oregon Woman Accuses Vice President Al Gore of Sexual Misconduct in 2006. 2. Fear Deflation, Pray for Inflation. 3. The latest from Nobel Prize Winning Economist, Paul Krugman. 4. HAMP's UP Program... (Continue reading)
Who is Freddie Mac to Strategic Defaulters? Well, I Have a Message for Freddie Mac.
Written on 12 May, 2010 at 9:00
What is Freddie Mac anyway? I've personally spoken with several thousand homeowners from all over the country, hundreds that have considered walking away from their mortgages, or are now in the process of doing so, and let me assure... (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)
Mortgages Over $1 Million Now Defaulting at TWICE the National Average
Written on 18 Dec, 2009 at 19:08
Those words hold true whether you're living in a three bedroom, two baths in Stockton, or a 7,500 square foot palace overlooking the ocean in Newport Beach. In fact, Bloomberg reported yesterday that mortgages over $1 million are now... (Continue reading)