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Monday, June 4, 2012


I pride myself in my ability to abhor BofA and yet feel compassion for Lakia King. How can a human being do such a hideous job? This morning she called to say that my hardship letter is still "unacceptable." The fact that the real estate market crashed and it was the bank's fault; and the fact that I say this in my hardship letter, is "unacceptable." According to BofA, I need an illness or unemployment or something like that. Then she went on to say what else I needed; 1. Dodd Frank is not signed (it is.) 2. All pages of 2011 tax returns( they have this.) 3. April's bank statement (sent.) Etc...the list goes on. Why is this so annoying to me? Oh yeah because it's FRAUD!

Tuesday, May 29, 2012

The banks business model is Fraudulent. Eric Holder and Head of DOJ’s Criminal Division Were Partners for a Firm Which Used to Represent the Big Banks, Fannie, Freddie and MERS Obama’s Department of Justice isn’t prosecuting any big fish. Indeed, the Obama administration is prosecuting fewer financial crimes than Ronald Reagan, George W. Bush, George H.W. Bush or Bill Clinton. This is true even though the big banks – such as Bank of America, Citigroup, JP Morgan and Wells Fargo – committed some fraud, but their entire business model is fraudulent. See this, this, this, this and this. The same is true of Fannie, Freddie. And even more so with Mers, where its entire purpose – from day one – was fraudulent. Here, here, here, here and here. So why haven’t the fraudsters running these chop shops been prosecuted by Attorney General Eric Holder, and the head of the DOJ’s criminal division Lanny Breuer? Reuters helps explain why today: U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division [watch this to get a sense of Breuer], were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows. The firm, Covington & Burling, is one of Washington’s biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for. Both the Justice Department and Covington declined to say if either official had personally worked on matters for the big mortgage industry clients. Justice Department spokeswoman Tracy Schmaler said Holder and Breuer had complied fully with conflict of interest regulations, but she declined to say if they had recused themselves from any matters related to the former clients. Reuters reported in December that under Holder and Breuer, the Justice Department hasn’t brought any criminal cases against big banks or other companies involved in mortgage servicing, even though copious evidence has surfaced of apparent criminal violations in foreclosure cases. The evidence, including records from federal and state courts and local clerks’ offices around the country, shows widespread forgery, perjury, obstruction of justice, and illegal foreclosures on the homes of thousands of active-duty military personnel. *** While Holder and Breuer were partners at Covington, the firm’s clients included the four largest U.S. banks – Bank of America, Citigroup, JP Morgan Chase and Wells Fargo & Co – as well as at least one other bank that is among the 10 largest mortgage servicers. *** Covington represented Freddie Mac …. [and] MERS Corp …. Court records show that Covington, in the late 1990s, provided legal opinion letters needed to create MERS on behalf of Fannie Mae, Freddie Mac, Bank of America, JP Morgan Chase and several other large banks. *** Covington in 2004 also wrote a crucial opinion letter commissioned by MERS, providing legal justification for its electronic registry. MERS spokeswoman Karmela Lejarde declined to comment on Covington legal work done for MERS. This isn’t as bad as Department of Justice lawyer John Yoo’s letter justifying torture by the Bush Administration, but it’s arguably somewhat analogous, as it is a legal opinion trying to justify blatant illegality. No wonder top financial crime expert Bill Black says that we have to fire Eric “Place” Holder  and all other government officials who are blocking prosecution of the criminals who caused the economic crisis. Indeed, it makes one wonder whether the Department of Justice still dispenses justice … or has turned into a “protection racket” for the rich and powerful.Not much better. Of course, most of the rest of boys in DC are

Sunday, May 27, 2012

Memorial Day Weekend, Sunday

Bank of American ordered another BPO. They have consistently made contact with me every holiday since Thanksgiving 2010. This is part of the psychological warfare. Another Realtor, drives up my driveway and refuses to leave, she says she has an Order to take pictures. I keep forgetting to start writing down their license plates and grab my phone to report a trespasser. Next time I will surely remember. Keep in mind these scabs are doing this for 40 bucks a pop. I wonder what it cost her to drive up here in gas.

Monday, May 21, 2012

Another home swindled by big bank

  Melissa and Jason Graham’s story~    My name is Melissa Graham. I have the American dream as many families across our Nation do. I am a married home owner with two children. I am a law biding, tax paying citizen who is an inspiration and positive influence to many other people in my community.    My husband and I have owned our home for over six years. When we first met thirteen years ago we would sit on my mother’s porch and dream together what we would do to the yard if we ever owned it. We made our dream come true and have worked very hard to keep our dream. We fell into financial troubles and had a change in our income. This caused us to reach out to 995-HOPE to attempt reducing our payments. We were struggling with our $2050.00 mortgage every month. We were told by our mortgage company JP Morgan Chase that our modification was going through the federally funded program. I found out after the fact Chase completed an in house modification and repayment plan. Instead of placing the amount past due in the back of the loan they rolled the amount into my monthly payments causing them to increase almost to $2300.00.      When the approval documents came to my home I called Chase and expressed my concern and confusion that our payments went up. I couldn’t understand how this was helpful when we reached out to them struggling with the lower payments. I was informed to sign the documents and make the first payment. This was going to officially place me in the modification program and my loan amount would be reviewed and lowered. I have never had a mortgage before; I trusted what the bank told me. I had the lady input a note into the system that documented I did not agree with the higher amount and I would only send the first $2300.00 payment until my loan was straightened out, and by signing the documents and making the first payment I was agreeing to be in the modification program and my payments would be reduced.    After the first payment I began calling Chase aggressively wanting my loan straightened out. I was given a run around by everyone I talked to. I was receiving calls asking for more documents. I was told by several Chase employees that there were notes from someone who worked at Chase that stated she was working on a “Special Project” and all they knew was she was requesting documents. No one knew anything about a “Special Project”. This was taking months just as the approval for the modification did and I was not making anymore $2300.00 payments as I discussed with the woman who instructed me to sign the paperwork.    In November I received a letter from Chase’s attorney notifying me that my home was going to be sold under Foreclosure. I immediately called my mortgage company in shock only to be informed by 3 separate employees that my home had a sale date of November 10th which was only 4 days away! I begged and pleaded with them for an explanation. What happened to my “Special Project”. I was given nothing but the cold shoulder.    My husband and I filed our last resort. We paid an attorney $1600.00 to file Chapter 13 bankruptcy in order to save our home. The day after our attorney filed someone from JP Morgan Chase called about documents for my modification. You can imagine my confusion at this point. I went through everything with the gentleman on the other line of the phone. I was then transferred to the company’s Bankruptcy Department where I spoke with a manager. He informed me that I never should have signed those documents and made the first payment because that locked me into the agreement. It didn’t matter that it was noted in the account that I did not agree to the terms, I was locked in. I brought up about the “Special Project” and was told there is no such thing because legally my loan can not be modified again for 1 year after it was modified.    I wrote the White House and received a response from the Treasury Department informing me they had escalated my situation to the HAMP program for review. I spoke with someone from HAMP who told me they could not help me because I had a FHA loan. They instructed me to call FHA which told me the same thing; I could not get help until June 1st.    I kept in constant contact with my mortgage company. I called when I heard of the programs our President Obama put in place to help struggling borrowers and was informed I still had to wait until June 1st. I even spoke with someone at Chase last week about how close I was to June 1st and I have been so excited to get my loan back on track and save my home! I was told by the gentleman on the other line that he sees foreclosures everyday and there is no way my home will be sold before June 1st. He said that he would really be surprised if it sold before then. He assured me there are so many people in foreclosure that it takes a very long time to get a sale date.    I found out today 5/16/2012 that a sale date has been set on my home for 5/30/2012. Did you notice the dates? 2 days before I am eligible for help my home is going to be sold on the courthouse step. I cried, pleaded, and begged my mortgage company and their attorney for a realistic option to save my home. The gentleman I spoke with at Chase was rude and very bluntly informed me I could pay off the full amount past due or I could split the amount up in 6 payments on top of paying my $2300.00 every month. If I had the money to pay $6000.00 to my mortgage company I would not be in the financial distress I am currently in. The woman at the lawyers office was just as insensitive and just kept saying over and over there was nothing I can do “OK?” No, this is not OK!    By not being informed and blindly trusting my bank I now have 13 days before my home is auctioned on the courthouse steps unless our government steps in.      So think about this for a moment. JP Morgan Chase will not give me 2 days to be able to save my home that I so desperately want to keep. A company who just lost well over 3 Billion dollars in a bad risky investment that is Federally Insured and will most likely be paid back to them by our government. Our government has bailed this company out to help home owners avoid foreclosure and they will not give my family 2 days to save it. Sign now

May 21, 2012

Lakia King called. I wonder what took so long. She called to say that my file is under review, and they hope to have a resolution shortly. I guess my number is coming up... I asked her about the principal reduction. She said my investor doesn't participate in principal reductions, but she will certainly make a note of it that I am interested in that if they start to do the PRs.

Tuesday, May 15, 2012

Another foreclosure suicide....Wells Fargo style

A couple who wasn't even late on their mortgage payments were tricked, scammed and manipulated into applying for a loan modification. Several years later the husband takes his life in a last desperate attempt to escape the torment, frustration and humiliation the bank has put him through. I say it's manslaughter. What do you think?

Monday, May 14, 2012

Mother's Day Surprise

May 12th, 2012 there was a nice present waiting for me in the mail. A short sale application from Bank of America. I guess that means they have denied the mod application? Who knows. Their tactics worked, it freaked me out and ruined my day. It infuriated me. No, BofA, I am not taking 3000, moving expenses to SELL YOUR HOUSE. No BofA, I am not going through months of an application process to see if I even QUALIFY FOR YOUR LOVELY SHORT SALE. What's the difference? Short sales ruin your credit the same way foreclosures do. The only difference is it cost YOU the owner MORE in BLOOD! THEY BETTER UP THE OFFER IF THEY WANT ME TO GO THAT ROUTE! Dear BofA. I will do it for 20, and yes, that's my final offer! Love Me.

Monday, May 7, 2012


Since Lakia King said sending documents to Bank of America in their Fed/Ex envelopes doesn't work, because they get lost, I faxed the entire package to he fax number. On average these days she is calling about every 7 to 10 days, so I expect her to call within a day or 2 again. I imagine she will either say that the bank statements are no good, or that I still need to produce real pay stubs (even though I am not a paid employee.) Naturally since I cannot produce this, the loan mod will be denied. The tenth time's a the charm? I guess I will just have to wait and see.

Tuesday, May 1, 2012

Lakia King Called again

She didn't receive the package I sent to them VIA THEIR FED/EX PACKAGE. I now have to get that paperwork together again and resend it. May 1, 2012.

Wednesday, April 18, 2012

APRIL 18TH 2012

Lakia King called again.

She claimed that she needs more information. Keep in mind that I got both a letter from her saying that my loan is denied, and also a formal application for a new modification application, within the last 5 days.

She now says that I did not sign the profit and loss statement I sent in. I did not have the paperwork in front of me, so I said OK, fine. I just now looked at my copy, and of course there it is, SIGNED AND DATED! This is proof to me that they are not just careless, but in fact are LYING. If they say they didn't have it, and maybe it got lost, I suppose it could be true. To say that they have it, and it is not signed is a blatant lie, as I would never send them anything without keeping a copy!

Next she said my bank statements are no good. What that means I am not sure, and she didn't seem very sure either! She said they needed hard copies. I sent the package fed/ex, hard enough for you???? Of course maybe she meant I had to go to the bank and get originals, but this is not what she said, and oh yeah ALICE IN WONDERLAND, why am I still trying to make sense out of this????????????

She also said my commission vouchers ( which she called "pay stubs," were no good, because they need to have both the employer address and the employee address, and all the deductions on them.


She said I need to write a letter of explanation about that.

I think the letter should go something like this:

"Your underwriters are idiots. They should know that a commission voucher does not look like a pay stub. Hire some real underwriters."

The end.

Next, and this is pretty good, she said my hardship letter is "unacceptable."

Here it is:

Hardship Letter
March 13, 2012
What happened to me, someone who at the age of 51 has NEVER had bad credit? It’s simple, the banks got greedy. The CEOs felt that earning millions of dollars a year was not ENOUGH, they wanted more.
They sold loans to people based on false information (that the market was stable.) They then sold THOSE loans to innocent buyers (pension fund holders.) It’s amazing how long they actually got away with it. It seems to me, at this point, they would just modify the loans and incur some of the loss that they created. For some reason they still feel that they are entitled to this stolen money.
If the problem was me, then I would have had a history of bad credit. The problem was the scam that had to crash. Once I realized the market was going to crash, I put my house on the market. It went on the market one year after I bought it. Unfortunately it was already too late. I didn’t get one offer.
I continued to try to sell my home on and off through 2008-2009. I heard about the Making Home Affordable scam in early 2009. I wish I never had heard of it.
I went in CURRENT. I paid your ridiculous SEVEN TRIAL PAYMENTS (WHAT EVER HAPPENED TO THE THREE TRIAL PAYMENT PLAN, THAT I WAS PROMISED?) I PAID ON TIME, in fact I had never paid late. So why did you deny this modification? Oh because it was a phony ploy! So you then told me on September 17, 2010 a full year after I had applied, that the modification was denied. You went on to make up ridiculous things like I was not living in the home I was living in, all lies.
All this stress caused me tremendous anxiety. THIS CAUSED ME TREMENDOUS HARDSHIP.
The hardship continues. Since you sunk the real estate market and I am a Realtor, how on Earth can I make a living? Oh yeah, I can’t! I work endless hours, seven days a week, on these ridiculous short sale and bank owned scams. The banks back out at the last minute, and then they steal our commission the day before closing.


Unacceptable. Hmmm, I guess it would be.

Then for some reason, just to increase my ever mounting stress level, I decided to ask Lakia King if she knew that what she was doing was wrong, and simply needed to feed her family, or did she really believe that what she was doing was something like the work of a real loan officer?

Her tone dead response was frightening. Maybe they are all drugged at the beginning of their shifts? Who knows, I only know I shouldn't have asked, because it made me feel angry, sad, agitated, and hopeless.

Tuesday, April 17, 2012

Applying for loans is an art I have perfected! New LOAN MOD APPLICATION APRIL 17, 2012

I have gotten together an entire loan modification application, in fewer than 24 hours.

If I ever to really apply for a mortgage in my life time again it will be the easiest thing in the world. I even anticipate questions and provide letters of explanation with the original application.

Why Bank of America sends me a loan mod denial, and a loan mod application within a 24 hour period is still a mystery (in that order.) I cannot believe that there is no recourse for what they are doing. I suppose the 25 billion dollar settlement with immunity, basically cleared them of any and all responsibility to act honestly and with good faith.

Monday, April 16, 2012

Monday April 16th, 2012 Another FED/EX PACKAGE

Today my friendly Fed/Ex carrier came again. He delivered a new application for the Making Home Affordable Program.

They are asking for ALL THE INFORMATION AGAIN.

Its ground hog day. Again.

Friday, April 13, 2012

If I wasn't living this, I would not believe it.

Tuesday April 10th 2012, 2:13 PM, Lakia King from Bank of America CALLED ME to say that Bank of America has received all of my loan modification application documents, and they need nothing from me.

On Tuesday April 10th, Lakia King issued a letter which I received today, April 13th, 2012, via FED/EX, stating that my loan mod has been denied, because I failed to submit documents.

Tuesday, April 10, 2012

Bank of America called today 2:13 PM

They called to tell say hi. So I get interrupted at work, asked a million ridiculous verification questions, just to be told my mod is under review, and they don't need anything from me. They have received all the loan documents that they requested.

with Love,
Lakia King
Your loving representative, and we value your business.

Tuesday, March 20, 2012

THE $7 TRILLION DOLLAR QUESTION THAT HAUNTS BANKS: When Will the Obama Administration Recognize that MERS Destroyed the Chain of Title Making All Foreclosures Suspect?

Author: L. Randall Wray · March 16th, 2012 · Comments (17) Share This Print 5 5

I’ve been writing about the MERS monster since 2010. Here is one of my early pieces:

I suppose it is now safe to reveal that a staffer of Representative Marcy Kaptur put me on the trail of this fraud—in dollar terms it has to be the single biggest fraud in human history. In sheer utter disregard for law it is certainly the most audacious fraud in Western history. To tell the truth, I had never heard of MERS until she called. If you recall the Michael Moore movie, Rep Kaptur stood on the steps and told homeowners facing foreclosure to stay in their homes. She was right: the banksters have no legal claim on the homes they are foreclosing. Foreclosure is theft. Any bank that used MERS has no legal claim on property—there are 65 million such mortgages to which no bank has a legal claim to foreclose.

And, to be sure, even those mortgages that were not run through MERS are suspect if they are handled by any of the five biggest servicers. These servicers keep such shoddy records that they cannot be trusted to accurately credit payments. They’ve been adding on fees and penalties that were unwarranted since they cannot keep track of records.

Folks, there are $7 trillion of securitized mortgages. It was (mostly) the securitization process that demanded fraud. Securitization could never have been profitable—it was a flawed way to go about financing homeownership. It was simply too expensive to compete with Jimmy Stewart thrifts. It required fraud to show profits. (As Bill Black always says: fraud is a sure thing. It is always the most profitable way to run a business—until you get caught.)

In addition to the MERS monster, we also know the securities did not meet the “reps and warranties” claimed. The banks that did the securizations will continue to get sued to take back bad mortgages. They are trying to shovel as many of these back to Fannie and Freddie as they can so that Uncle Sam will take the losses—as discussed in my previous blog they are now doing it through sale of servicing rights.

And of course Uncle Ben has helpfully put a lot of them on the Fed’s balance sheet. This is all part of the cover-up to avoid the obvious: all these big banks are massively insolvent as soon as the courts wake up to the fact that the whole damned real estate finance onion is layer upon layer of fraud.

But let us stick to the MERS fraud.

There should be an immediate and complete halt to all foreclosures in the US, and all foreclosures that have been completed over the past decade should be nullified. Yes that will get messy. But continuing with foreclosures will make the mess immeasurably worse. This foreclosure crisis is not going to stop.

No one should buy any bank owned real estate because it is probable that eventually the US will return to the rule of law. The property will be returned to the rightful owners—those who were illegally kicked out of their houses.

Now that might be a pipe dream, but if the US is not going to be a nation ruled by law then it will not survive.

The biggest banks—including the GSEs—created MERS and proceeded to destroy our nation’s real estate property law. That is not an overstatement. Robo-signing is just one small and inevitable consequence of the fraud. The truth is that foreclosure cannot go through without fraud because the banks do not have the documents to show clear title.

Banks don’t have them because they do not exist.

There are no records because that was MERS’s business model: destroy all records of ownership while speeding the securitization process.

And since the mortgages themselves were often frauds (designing “affordability products” that homeowners could not afford), many would end in delinquency. So MERS was designed to speed the foreclosure process—it would be so much easier to foreclose if you didn’t bother with documents, records, and property law. Just kick the owners out, take the home, sell it, and reboot the whole scam again.

Another whistle-blower has come forward, this one from CBO. Lan Pham was fired because she refused to get with the program: the government is supposed to help the banksters cover-up their frauds, NOT expose them! She refused. So she was fired. Now she tells her story.

I won’t repeat her entire story—you can read it at Zerohedge. Here are a few quotes from Lan Pham, the CBO whistle-blower:

I was repeatedly pressured by the CBO Assistant Director, Deborah Lucas… to not write nor discuss issues in the banking sector and mortgage markets that might suggest weakness in these sectors and their consequences on the economy and households…

…Issues at the heart of the foreclosure problems pertain to securitization….and the Mortgage Electronic Registration System (MERS), which purports to have legal standing on electronic records of ownership on about 65 million…mortgages… MERS…facilitated Wall Street’s ability to expedite the pooling of subprime mortgages into MBSs by bypassing standard ownership transfer procedures as the housing bubble escalated…

The implications have profound financial and economic consequences that would be of compelling interest to Congress and the public, but the CBO sought to silence a discussion of such risks, that in reality have been materializing. These risks put into question the ability of investors or bondholders to make claims on the collateral (the homes) that underlies trillions of dollars in MBSs, the bulk of which are now guaranteed by …Fannie Mae and Freddie Mac. This affects $10 trillion in residential mortgage debt outstanding, of which $7 trillion in mortgage-backed securities (MBSs)…

The CBO dismissing such issues prevents an analysis of the risks, so that the public may be forced again to shoulder the consequences for which they have not been a given a voice or a choice.

Essentially, the chain of title on securitized mortgages appears broken, whether or not there is a foreclosure. This would pertain to most homebuyers in the past 10 years as most mortgages were securitized by Fannie Mae and Freddie Mac providing the guarantees, and the largest banks (“The $7 Trillion MBS Problem – Foreclosure Problems and Buybacks”). Recall that these same entities founded MERS, which expedited securitization and purported to have foreclosure authority from its electronic records of ownership on about 65 million mortgages. “Robo-signing” emerged as fraudulent or defective documents were used or created to establish the legal authority to foreclose as MERS faced legal challenges; as of July 22, 2011, foreclosures could no longer be initiated in MERS’ name. At last year’s pace, some figures suggest it could take lenders in New York 62 years to clear their foreclosure inventory, 49 years in New Jersey and a decade in Florida, Massachusetts, and Illinois.

It is unclear how the recent State attorney generals’ agreement to a proposed yet unpublished terms of the $25 billion robo-signing settlement would repair the chain of title issues that continue to mutate. In January 2011, the Massachusetts Supreme Judicial Court reversed the foreclosure actions of two banks for lacking proof of clear title, followed by a decision in October 2011 that a buyer who purchased a house that was improperly foreclosed upon does not make the buyer the new owner of the house; the sale does not transfer the property.

A striking little mention fact of the Massachusetts foreclosure case was that the lenders could not show that the two mortgages were part of the securitization pool. Let’s consider a thought exercise. Others have the raised the question: if the entity that has been taking the homeowners’ mortgage payments is not the real owner, what happens when the true owner(s) of the mortgage shows up? Are homeowners on the hook again for those ‘missed’ mortgage payments? It was not uncommon for mortgages to be sold multiple times, and it is my understanding that loans were intentionally not given unique identifiers as it moved from origination or purchase through to securitization.

This is what I’ve been arguing since 2010. This will not go away—no matter how much the Administration, the Congress, and the banks try to cover it up.

Filed under: Uncategorized

Tuesday, March 13, 2012

March 13, 2012

Yesterday I faxed over more documents for the Bank of America pretend loan application. Today Lakia King called me at 2:35 PM to tell me that the loan modification has been denied because they have not received documents.

Calmly I asked her if she received the fax from yesterday, and she said no not yet. Not yet? Does Bank of America receive faximilies in a different time dimension than the rest of the world? In the world I am familiar with, a fax goes through in minutes, or it bounces. It does not travel along the Bank of America fax dimension railroad, aimlessly for weeks.

Well as a back up, I sent the whole package again, via FedEx this morning. I wonder if they will not receive that also? Maybe it will meet up with the missing fax and they will go out for a beer?

We all know they already won the game, the round, the scam, the whole pinata. So why are we still scrambling for a remnant piece of lost candy?

Monday, March 12, 2012



"My husband (a two tour Iraq War Veteran) and I have been trying for 3 years to modify our mortgage with Bank of America (Merrill Lynch), only to be given the run around. Now, we may lose our home. The home my father designed and built with his own two hands that should be in our family for generations to come.

Since 2008 my family has been dealing with the nightmare of trying to get a modification with Bank of America for our home in Lakewood, CA. We've been told the bank has lost our paperwork more than once, we've been sent denial letters, and we are now on the 3rd attempt to modify our loan.

Due to the unethical practices of Banks and Credit Card companies, and furloughs, my credit has been completely destroyed and I am now in a financial spiral, one that makes it impossible to qualify for a refinance.

Bank of America has ignored our modification requests. They have continually lost and then requested replacement paperwork, impounded tax and insurance payments. We must have a modification before the loan adjusts from interest only to hold on to our home.

We want to make our mortgage payments - and we can - if Bank of America works with us.

Please sign this petition to help my family keep our home."

Thursday, January 26, 2012

January 25, 2012

Fed/Ex from Bank of America,

Thank you for applying for a loan mod. Just submit this list of paperwork
1-100 (items I already sent in 20 times.)
and do so by February 3, 2012 or your file will be closed.

Jesus, why do you taunt me so?

January 24, 2012

Fed/Ex from Bank of America.

Your loan mod is denied.