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Capt. Jack's Blog – November 2010 Archive (17)

Even more valid today than it was in 1963

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Added by Capt. Jack on November 22, 2010 at 2:00pm — No Comments

What does this mean? (A BILL to amend title 11 to modify the application of BK13)

Link to PDF file

Request for comments...

Added by Capt. Jack on November 21, 2010 at 2:02pm — No Comments

Rep. Brad Miller: “Protecting bank solvency has been a goal of Treasury that I do not share”

Rep. Brad Miller: “Protecting bank solvency has been a goal of Treasury that I do not share”

$nip>

One of the more amusing moments of yesterday’s House Financial Services Committee hearings on foreclosure fraud was when the representatives for the loan servicers were asked why they were subsidiaries of the large…

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Added by Capt. Jack on November 21, 2010 at 11:24am — No Comments

Trying to Put a Price on Bank Errors

Trying to Put a Price on Bank Errors

Gretchen Morgenson, New York Times

$nip>

KUDOS to the Congressional Oversight Panel for publishing a thoughtful and thorough report last week on the mortgage documentation mess. It argued that, yes, in fact, these paperwork problems may have significant…

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Added by Capt. Jack on November 21, 2010 at 9:42am — No Comments

Foreclosure Docs Questioned After Body's Discovery

Body Found By New Owner On Thursday

Foreclosure Docs Questioned After Body's Discovery

$nip>

CAPE CANAVERAL, Fla. -- Authorities have not yet been able to positively identify a body that was found in a foreclosed Brevard County townhome, but the remains are believed to be that of the owner, Kathryn Norris.

Court records paint a muddy picture of a foreclosure case…

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Added by Capt. Jack on November 21, 2010 at 9:17am — No Comments

Is a War Brewing?

Breaking: Former Gov. Ventura Will No Longer Fly Due to Abuse He’s Endured at Hands of TSA

Local law enforcement is now at airports watching Federal law enforcement "screen" airline passengers. Hmmm....local vs. federal law enforcement?

Shouldn't the feds being wearing black uniforms adorned with intimidating…

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Added by Capt. Jack on November 20, 2010 at 11:16am — 1 Comment

Senate Foreclosure Hearing: “Robo-signing an Affront to State Courts”

Senate Foreclosure Hearing: “Robo-signing an Affront to State Courts”

$nip>

Yesterday the Senate Banking Committee held a hearing looking into the foreclosure mess. I really expected that it was going to be a bunch of political grandstanding, a la the Goldman Sachs hearing a while back. I was pleasantly surprised…

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Added by Capt. Jack on November 20, 2010 at 10:10am — No Comments

Write in Questions to the Financial Services Committee

Panel Members Contact Info. Follow the link below

Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

Pound them hard with serious questions! We only have a few weeks.

Added by Capt. Jack on November 18, 2010 at 12:25pm — No Comments

More Evidence That Mortgage Loans Were Not Properly Conveyed to Securitization Trusts

More Evidence That Mortgage Loans Were Not Properly Conveyed to Securitization Trusts

$nip>

We’ve described in various posts how evidence is growing that the participants in mortgage securitizations sometime early in this century appear to have ignored the requirements of a variety of laws and their own…

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Added by Capt. Jack on November 15, 2010 at 7:17pm — 1 Comment

Videos for Conspiracy Nuts?

Arsonists requesting more…

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Added by Capt. Jack on November 13, 2010 at 10:18am — 1 Comment

U.C.C. § 3-604. DISCHARGE BY CANCELLATION OR RENUNCIATION.

U.C.C. § 3-604. DISCHARGE BY CANCELLATION OR RENUNCIATION.

* (a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (i) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, or the…

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Added by Capt. Jack on November 10, 2010 at 4:38pm — 1 Comment

The Mortgage Fraud Scandal Is The Biggest In Human History

The Mortgage Fraud Scandal Is The Biggest In Human History

$nip>

We have long known that lender fraud was rampant during the real estate boom. The FBI began warning of an “epidemic” of mortgage fraud as early as 2004. We know that mortgage originators invented “low doc” and “no doc” loans, encouraged borrowers to take out “liar loans”, and promoted “NINJA loans” (no income, no job, no…

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Added by Capt. Jack on November 10, 2010 at 3:34pm — No Comments

§ 3-203. TRANSFER OF INSTRUMENT; RIGHTS ACQUIRED BY TRANSFER.

What effect would this have on a situation where a trust forces a bank to "buy back" an obligation I wonder.

§ 3-203. TRANSFER OF INSTRUMENT; RIGHTS ACQUIRED BY TRANSFER.

(a) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument.

(b) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of…

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Added by Capt. Jack on November 8, 2010 at 5:24pm — No Comments

So Long, Tim Geithner

Published: Wednesday, 3 Nov 2010 | 11:02 AM ET

By: John Carney, Senior Editor, CNBC.com

So Long, Tim Geithner

$nip>

We're starting a Tim Geithner death watch.

That sounds a bit morbid. So let's be clear. We do not think President Barack Obama will murder Tim Geithner following the devastation of his party in the midterm elections. He'll just toss the guy out of the…

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Added by Capt. Jack on November 4, 2010 at 6:06am — 2 Comments

Federal Government Asks for Closed Courtroom to Protect Goldman Sachs Secrets

From AllGov 10/29/2101

Federal Government Asks for Closed Courtroom to Protect Goldman Sachs Secrets

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The U.S. Department of Justice has requested that a federal judge seal the courtroom of a trial involving computer code theft in order to protect trade secrets of Goldman…

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Added by Capt. Jack on November 1, 2010 at 10:16am — 1 Comment

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