Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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OK everyone. A popular and not so popular poster here has postulated that the end of the financial world is upon us today. I've got Kramer on speed dial, and CNBC dialed in, and a Coast Guard helicopter hovering to evacuate me to my bunker...

Let's just see how things shake out shall we.......?

(that's 666 squared!!)
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Joe B



          Here’s the deal on the recent panic that seemed to be sweeping this board as a result of one of the more prolific posters to the board. Just to be clear, I am not attacking the poster! I am simply offering some suggestions on how to react to future similar instances…


The new accounting rules will absolutely have an impact on these financial service companies as well as the financial markets in general. The one thing that most people ignored (or forgot) as Nye and his friends were beating their chests and joining Henny Penny telling you that the sky was falling, is this: Markets are efficient.


          Here’s what this means… Any news that is out there for the world to digest is already reflected in the stock price. Most people who invest in these stocks are not people at all, but institutions. The individual investors for the most part do not drive the market or stock prices. The fact is that mutual funds, institutional traders, and similar organizations are the driving force in the markets. These investors are also the most sophisticated and have the best information at their disposal. It doesn’t mean they don’t make mistakes, it just means that they are superbly informed with information most of us would kill to have when making our investment decisions!


          Therefore, all of this news about accounting changes, rules, and compliance, and the resultant impact it would have on the market was already reflected in the share prices of these companies. These investors know about FAS rules, the pending changes, and how it would impact individual companies. They assessed the impact of these changes on the stocks of these companies, and adjusted their positions accordingly. Bottom line, they assessed the situation, their exposure, and made their trades well in advance of TODAY, before the alleged “blood bath,” and the respective share prices reflected it. They did this long before most, if not all of us, knew about this issue at all.


          That being said, there is likely going to be more downside pressure on these stocks, especially as the true value of these CDOs become available. Remember however… just because there is no static market price for these investments, doesn’t mean they are worthless; it just means there is no active market for which to price them. So, some CDO values will adjust up when pricing is properly assigned, and others will adjust down. As a result, the stock prices of these companies will also adjust accordingly. As a practical matter, given what we know right now, there is far more downside risk in the market right now; just not quite catastrophic!


          So invest wisely, but watch carefully when people tell you the sky is falling. Most of them simply want to show the world how smart they are. They are the first to say “I told you so,” but the last to say they made a mistake!! Be careful with your money, and be careful whose advice you follow.


          If you are here on this board, it means you have a bigger problem much, much closer to your front door! I urge you to reach out and get help, offer help, and fight the issues that can make a difference for you. Marking CDOs to market is probably not your biggest concern right now.


          So, how can we on this board help you? How can you help the people on this board? How can we help each other beat the bums that are trying to steal our homes and our equity from us? That is the good fight, if you want to get right down to it!!!


          In my humble opinion!



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Go, Joe. Spot on!

HERE's The REAL Armageddon

IMAPP, a program available through ARMLS. [Arizona Regional Multiple Listing Service] Using IMAPP, you can look up a property and see a map showing listings and foreclosures in an area.  Listings are shown with green signs, foreclosures are represented by gavels.  Foreclosures can be at any stage from having received a "Notice of Trustee’s Sale" to being a REO.  El Mirage, AZ [a Phoenix suburb] :

Click image for larger version - Name: Foreclosure_map.png, Views: 13, Size: 46.29 KB
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I feel like i have to explain something here:

I was not over reacting, in my post.......... where i asked what the chances were of this affecting our personal checking account.

I'm sorry if that was the impression by any of you.
It was mere curiosity, for the simple fact that (I just didn't get it)

I'll be the 1st to tell you that sometimes, my brain just doesn't work and allow me to retain the info that I need to "learn".

The stock stuff, and the entire banking side of this MSFRAUD, doesn't stay "locked" in my brain long enough to then learn the next lesson.

It's not that I'm dumb, or unintelligent. It's a side effect from the 3 "most powerful types" of chemo therapy, issued to me at the highest level of dosage, that had ever been used. Yeah, Yeah..... poor pitty me.....NOPE NOT AT ALL!!!!!!!!!!!!! I'M HERE AND IM ALIVE AND THAT WAS THEIR INTENT.
Just unfortunately, ruined some of the capacity for my brain to "memorize" both short term and long term. Okay so now that we all know this, maybe you will all understand that I'm not dumb now.

so here are just a few reasons why i asked about the checking accounts, and 401K's.

1. I didn't understand the new ruling to be effective on the 15th.
2. I knew it was dealing with banks.
3. I wanted my family to be financially prepared in the event, funds weren't readily available to banking clientel.
4. So it's not that I was in a "panic" or experiencing a "hissy fit" it was simple, inability to comprehend, the banking side of the notes, titles, stocks, books, bonds and yadda yadda yadda.

Thankfully, though the mortgage side of this clicked, and didnt take me long to learn lots, and lots, and I'm still learning, about it.
Knowledge is power.
and I know this.

I've tried a mill and one times to gain knowledge about the Banking side of the fraud, and it is not registering.

anyway, you all will know when Ive gone into a panic, or hissy fit, but that wasnt a panic post.
It was just questions.

Good luck all.

and btw............... i'm not the one who keeps posting all these comments about Nye, and I'm not the one posting all this Apocolypse stuff.

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     Hey, sorry if I touched a nerve... this was NOT directed at you. In fact, I think your questions, and the posts that were answering your questions were some good information. You asked some really good questions based on the sky is falling predictions! Do not worry about the posts on this thread; you were not the target!!

     My posts were directed at the person who was predicting the end of the US Financial markets, and the one who purports to know more than the rest of us...

     PLEASE, do NOT give this one second of thought, and please feel free to ask anything that you are unsure about.


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I just noticed this..why am I in this post and taken out of context, anyway?

All I did was copy what Nye's rude FLA neighbor said (spelling errors and all) and ask a question. I am not involved in this end of the world scare, nor am I allied in any way with Nye and his rude neighbor.

This is the entire post. Since Nye is fond of gloating here about bloodshed and suicides involving mortgage woes, I simply was trying to discern what this rumored "bloodbath" consisted of.

"Nye has been talking about the weekend before Thanksiving being a blood bath for America."
Just what does this mean? I hope you mean a financial bloodbath and not a literal one....

Whatever. I see we are still here and CNN is not reporting any huge financial ripples in the financial sector today other than what has been happening for the past few weeks. Business as usual on Wall Street and at the banks. Not even one report of a banker jumping out of a window.

False alarm, but certainly NOT MY ALARM! For someone smart enough to square 666 it seems that the poster could have been smart enough to read the last sentence of my very short post!

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O -

New York City Housing Bubble - 'The BIG Picture': Layoff Bloodbath At Wall Street Financial Firms Continues

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     Lighten up! This wasn't a shot at you either. Gee whiz. I was trying to beat around the bush, but apparently that ain't working. So, to be perfectly clear, I was simply showing the folks on this board that Nye ain't all that he says he is!! He stands there and pounds his chest about how smart he is and how much he knows and how we should all just trust him because he knows better, blah blah blah...

     Well, the market is smarter than he is! Always has been and always will be. So, for those of you looking for help from someone, let this be a cautionary tale about people who claim they have it all figured out! I would be careful about following someone blindly! Do your homework, and be careful.

     If someone has to spend all his time telling everyone how smart he is, just maybe he ain't!

     So anyone else that thinks I was taking a shot at them, I will make it clear that it was Nye and Nye's neighbor that I was talking about!

Semper Gumby!!

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Oh, honey, no prob. I just looked at that list and saw myself wedged in between all those Neighbor's posts...ugh. You have no idea how "violated" that made me feel...and creeped out, too.

I just don't want anyone to think I have anything to do with those nutjobs. I am going to exercise my right to be an independent nutjob in my own right. I don't have time or patience to deal with those "dogs" who hunt endlessly and yet never bag the game.

Ugh, I still can't bear to look at gives me goosebumps....
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     Yeah, I am really sorry about that. I should have just made it clear from the start who I was calling out! No worries, I will learn for the next time!!

     I hope I didn't cause too much indigestion!!

Semper Gumby!!

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With all due respect, Mr. Lavalle has portrayed himself as Don Quixote for a number of years and may or may not have been instrumental in whatever minimal progress has seemingly been made. The fact is, the only fraudster servicer that has even been touched was Fairbanks, and that slap on the hands only came about because two Senators stuck it to the FTC.

Like all strategic/political issues it depends on who you listen to. Only partially in jest, I'm still waiting for Nye's oft-predicted RICO case that will topple the whole industry to be filed any minute now.

Mr. Lavalle is not the Fairy Godmother and the Fairy Godmother isn't coming to rescue you from the clutches of a predatory servicer.

Thus, history teaches us that until some number of Senators and/or Congressmen find the cajones to do something, outisde of any number of people who might be in a class action suit, you (and your attorney if you have one) are pretty much on your own when it comes to actual mortgage servicing fraud.

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     Thank you for the voice of reason. I too keep hearing about the pending (RICO, Collusion, fraud, fill in the blank) litigation that is just about to break the whole thing wide open. Well...

     I don't have a problem with it not happening...honest! I just get tired of the self promotion and aggrandizement that goes along with the promises of industry toppling litigation! Don't talk about it... just do it. Then we will surely see that there is action behind the words!

     The fact is that we are on our own, unless as Moose correctly suggests, that some warm hearted Congressperson or Senator walks with Dorothy and gets a conscience.

     So, what we need here is to help each other with good information, not empty promises, and not some suggestion that the world is about to change. We just need to rally with what we CAN do, find what legal recourse we DO have, and get after these guys.

At least that's what I think...

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ol' wise one

it is not who he might want to be , but , it is he who can provide , and inspire , it is not the bloating that he speaks , not with fork tongue , but , the gavel that he swings , so , Mr. Lavalle please take a bow for that you are the choosen one to lead us on this fight .  it is you that has given us the energy and the knowledge to put up a fight .  to HELL with EVERYONE  that wants to ridicule someone  , that , he is mearly trying to show his guidance down the path  , those of you should be ashamed of yourselves , you seem to TALK THE TALK , BUT , CAN NOT WALK THE WALK .    I have seen personally that , Mr. Lavalle walk on water .  he deserves more credit then all of you put together, as i give you this final thought , knowledge is a terrible thing to waste , but , ignorance is very shallow .

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It's going to take me a while to get over this email I got from Nye. I don't know how he can say this, When this is what he says he is fighting?
All I did was ask nicely for a link? He sent me emails calling me the C-word B-word the F-word and a few others. Putting me down and saying nasty things. I got 6 emails from him. I am glad I did not ask for more then a LINK.


This below was sent from this forum to me.

You are a piece of trailer trash that hopefully get's her trailer foreclosed on!

This email has been sent from Nye Lavalle using a form at the URL below, which hides your email address from the email sender:

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     I am sorry for the words you have received. I don't know why Nye lashes out at anyone who asks him something he doesn't like. I don't get it, but I am sorry for what you received! It is indeed odd!

 Ol wise one-

     I think it is great that you have this high opinion of Nye, perhaps it is deserved. However, here is my question... Specifically, what has Nye done to help win the fight against MSF? I don't know what he has done, because I haven't seen it is all. Perhaps he is all that and a bag of chips. Great, then bring the rest of us up to speed on what he has done OB1. Maybe if we all knew what he HAS done, we can get on the Nye is great train ourselves!   

     What I HAVE seen is that anyone that questions him get a flamethrower at them on the board. That might be a bit odd for the guy who has anointed himself as the dragon slayer for mortgage servicing fraud!

     So, show me... Tell me what he has done to help win the fight, and why does he rip to shreds anyone that asks him something he doesn't like?

Semper Gumby





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I don't understand, I guess he is having a hard time, Bad day, Unhappy, or what? Maybe it's STRESS!
I know how that can be.  I have no hard feelings for Nye, Even after being cussed out, it was what he said about my home being foreclosed on that hurt my feelings. It was very TUFF trying to survive ameriquest with no place to live while doing so, renting and making mortgage payments.
I still have to look at my moldy ameriquest sucks house everyday, I WISH some one would come and take it away! IT's A DRAG! My cat had kittens under it. It is a danger to my family and my pets.

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 All Aboard  the great NYE  train  ,    the answers that you are looking for are  ,  yes , Nye has gone to such great lengths to answer at great lengths the many questions that have been placed in front of him at various times, by many of you . Currently , Nye is working on taking down the giant dragon , and some has said what ? is he the dragon slayer , when this case becomes public , here shortly , many of you will understand at length the enormious pressure that he is under in putting this case together . yes , this goes beyond mortgage servicing fraud.  this brings me to this topic - mortgage servicing fraud , in order to bring these giant mortgage servicing companies to their knees , laws will have to be  changed in congress , the house of reps. , the senate  and so on .  Nye has got his foot in the door and people are starting to listen to him on all of these topics . Senators , republicans , democrats , it takes great movement on his part that now he has backing on what he has been saying .these politicians talk about reform , but where do you think their pocket monies come from  ??  these very same companies that steal it from us .

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Nye has been inches away from slaying the dragon, lo, these many years since he appeared here. And he is always hot on the beast's trail and within striking distance of it, but still has failed to draw blood.

I think Nye will have a great case. He will have a great case because he has mined this site for info for years. And Nye will be the sole beneficiary of his hard work. Nye will make out like a bandit using his mined information as ammunition against his dragons.

Once Nye has gotten the great payoff something tells me that he will suddenly reveal that he has been gagged by his settlement and cannot share any of it with anyone. Yet another "crusader" rides into the sunset with his saddlebags full of gold, leaving the rest of us behind to choke on his dust.

Just MHO, of course.
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4 justice now



I really don't care if this person happens to be a total narcissistic, self-absorbed, psychopathic self-indulgent weasel; if they’re a thorn in the side of servicers they’re ok with me. That said, I wouldn’t invite such a person over for a spot of tea, and I certainly don’t believe we should waste moment longer discussing the subject. We need to get back on track and stay there for the benefit of all.





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Nye has no standing to sue anybody. He can't be an expert witness. He can give your attorney information but they'd better be ready to take a sip of water out of a firehose.

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Whether or not Nye could be approved as an expert witness lies in the hands of the judge presiding over the case.

Whoever wants him as an expert will have to craft questions to influence the judge who then rules.


expert witness n. a person who is a specialist in a subject, often technical, who may present his/her expert opinion without having been a witness to any occurrence relating to the lawsuit or criminal case. It is an exception to the rule against giving an opinion in trial, provided that the expert is qualified by evidence of his/her expertise, training and special knowledge. If the expertise is challenged, the attorney for the party calling the "expert" must make a showing of the necessary background through questions in court, and the trial judge has discretion to qualify the witness or rule he/she is not an expert, or is an expert on limited subjects. Experts are usually paid handsomely for their services and may be asked by the opposition the amount they are receiving for their work on the case. In most jurisdictions, both sides must exchange the names and addresses of proposed experts to allow pre-trial depositions. (See: expert testimony)

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Nye Lavalle
What ALL of you are failing to see and note, is the declining US Dollar. Because of all of this, no one trusts us [rightfully so] or our company's books. The measure is not ONLY the market, but the worldwide value of our net worth. But, I am tired of educating those who will never get it! So, that's all I have to say.
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You're exactly right about that Nye  ms fraud  and related lending crimes are looting our economy.  People lose money in investments and retirement funds, they pay higher prices at the gas pump,  they lose value on their home, they lose jobs and the crime rate increases. How do we know other countries will not start an economic or actual war because lending fraud has destroyed their investments and business in the U.S.?

U.S. citizens in general might enjoy sitting on their hands like dunces or cower in fear of a handful of domestic terrorists and tolerate or even enjoy being abused but that doesn't mean other countries and cultures enjoy having their assets seized and devalued like we do. Perhaps other cultures such as Asian cultures believe in working for assets and having a sense of accomplishment, instead of tolerating or inviting abuse as an excuse to get sympathy and government assistance.

Ms fraud and related financial crimes, monetary and trade policies are sucking the assets out of our nation and that devalues the dollar they are stealing everyones money by stealing our homes.

This will trigger an economic collapse whether it's all of a sudden or gradual is beside the point.

People who ignore this basic fact about financial fraud are putting a noose around their own neck as well as everyone else's. Arguing about exactly when and how it will happen is kind of like arguing a  hit and run accident didn't occur because the witnesses gave different descriptions about the vehicle or driver or didn't like the attitude of the witnesses and ignoring the dead body in the road.

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This is what is happening to the US dollar.....Nye, you are right on target!


7 Countries Considering Abandoning the US Dollar (and what it means)

By Jessica Hupp

It’s no secret that the dollar is on a downward spiral. Its value is dropping, and the Fed isn’t doing a whole lot to change that. As a result, a number of countries are considering a shift away from the dollar to preserve their assets. These are seven of the countries currently considering a move from the dollar, and how they’ll have an effect on its value and the US economy.

  1. Saudi Arabia: The Telegraph reports that for the first time, Saudi Arabia has refused to cut interest rates along with the US Federal Reserve. This is seen as a signal that a break from the dollar currency peg is imminent. The kingdom is taking “appropriate measures” to protect itself from letting the dollar cause problems for their own economy. They’re concerned about the threat of inflation and don’t want to deal with “recessionary conditions” in the US. Hans Redeker of BNP Paribas believes this creates a “very dangerous situation for the dollar,” as Saudi Arabia alone has management of $800 billion. Experts fear that a break from the dollar in Saudi Arabia could set off a “stampede” from the dollar in the Middle East, a region that manages $3,500 billion.
  2. South Korea: In 2005, Korea announced its intention to shift its investments to currencies of countries other than the US. Although they’re simply making plans to diversify for the future, that doesn’t mean a large dollar drop isn’t in the works. There are whispers that the Bank of Korea is planning on selling $1 billion US bonds in the near future, after a $100 million sale this past August.
  3. China: After already dropping the dollar peg in 2005, China has more trouble up its sleeve. Currently, China is threatening a “nuclear option” of huge dollar liquidation in response to possible trade sanctions intended to force a yuan revaluation. Although China “doesn’t want any undesirable phenomenon in the global financial order,” their large sum of US dollars does serve as a “bargaining chip.” As we’ve noted in the past, China has the power to take the wind out of the dollar.
  4. Venezuela: Venezuela holds little loyalty to the dollar. In fact, they’ve shown overt disapproval, choosing to establish barter deals for oil. These barter deals, established under Hugo Chavez, allow Venezuela to trade oil with 12 Latin American countries and Cuba without using the dollar, shorting the US its usual subsidy. Chavez is not shy about this decision, and has publicly encouraged others to adopt similar arrangements. In 2000, Chavez recommended to OPEC that they “take advantage of high-tech electronic barter and bi-lateral exchanges of its oil with its developing country customers,” or in other words, stop using the dollar, or even the euro, for oil transactions. In September, Chavez instructed Venezuela’s state oil company Petroleos de Venezuela SA to change its dollar investments to euros and other currencies in order to mitigate risk.
  5. Sudan: Sudan is, once again, planning to convert its dollar holdings to the euro and other currencies. Additionally, they’ve recommended to commercial banks, government departments, and private businesses to do the same. In 1997, the Central Bank of Sudan made a similar recommendation in reaction to US sactions from former President Clinton, but the implementation failed. This time around, 31 Sudanese companies have become subject to sanctions, preventing them from doing trade or financial transactions with the US. Officially, the sanctions are reported to have little effect, but there are indications that the economy is suffering due to these restrictions. A decision to move Sudan away from the dollar is intended to allow the country to work around these sanctions as well as any implemented in the future. However, a Khartoum committee recently concluded that proposals for a reduced dependence on the dollar are “not feasible.” Regardless, it is clear that Sudan’s intent is to attempt a break from the dollar in the future.
  6. Iran: Iran is perhaps the most likely candidate for an imminent abandonment of the dollar. Recently, Iran requested that its shipments to Japan be traded for yen instead of dollars. Further, Iran has plans in the works to create an open commodity exchange called the Iran Oil Bourse. This exchange would make it possible to trade oil and gas in non-dollar currencies, the euro in particular. Athough the oil bourse has missed at least three of its announced opening dates, it serves to make clear Iran’s intentions for the dollar. As of October 2007, Iran receives non-dollar currencies for 85% of its oil exports, and has plans to move the remaining 15% to currencies like the United Arab Emirates dirham.
  7. Russia: Iran is not alone in its desire to establish an alternative to trading oil and other commodities in dollars. In 2006, Russian President Vladmir Putin expressed interest in establishing a Russian stock exchange which would allow “oil, gas, and other goods to be paid for in Roubles.” Russia’s intentions are no secret–in the past, they’ve made it clear that they’re wary of holding too many dollar reserves. In 2004, Russian central bank First Deputy Chairmain Alexei Ulyukayev remarked, “Most of our reserves are in dollars, and that’s a cause for concern.” He went on to explain that, after considering the dollar’s rate against the euro, Russia is “discussing the possibility of changing the reserve structure.” Then in 2005, Russia put an end to its dollar peg, opting instead to move towards a euro alignment. They’ve discussed pricing oil in euros, a move that could provide a large shift away from the dollar and towards the euro, as Russia is the world’s second-largest oil exporter.

What does this all mean?

Countries are growing weary of losing money on the falling dollar. Many of them want to protect their financial interests, and a number of them want to end the US oversight that comes with using the dollar. Although it’s not clear how many of these countries will actually follow through on an abandonment of the dollar, it is clear that its status as a world currency is in trouble.

Obviously, an abandonment of the dollar is bad news for the currency. Simply put, as demand lessens, its value drops. Additionally, the revenue generated from the use of the dollar will be sorely missed if it’s lost. The dollar’s status as a cheaply-produced US export is a vital part of our economy. Losing this status could rock the financial lives of both Americans and the worldwide economy.

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Love all the discussion about me. Funny, I think many of you would have better things to do. Just for the record, my family, I and even our family trusts have been sued for MILLIONS!!!

So, for those who think I am in for a big pay day, think again. What ticks me off about "some" of you, is you sit here behind walls and don't any guy to e-mail me directly or call me. Then you sit and say things here. Its NOT my job or Jack's to save your home, it's my job to help change the system and train others to do so.

What I have done is far too numerous to mention here. How many I have helped directly and indirectly is beyond count. What you don't see were settlement discussions where we turned down money and said unless the practices were changed SO NO OTHER FAMILY WOULD GO THROUGH WHAT MY FAMILY WAS PUT THROUGH , we would NOT SETTLE.

we were dangerous since WE HAVE MONEY AND MY LAWYERS WANTED US TO SETTLE AND SAID I WAS BEING TOO ALTRUISTIC. Even the other side's lawyers said same thing.

SO, some of you losers need to get a life and out of mine and this board and be man or woman enough to step up. I don't OWE YOU anything, I do what I do out of honor. I sue to right wrong. So, if you want to take a shot at me, do so. Just not here. Bring it on in an email. But, don't think you won't get it back 10 fold!

I'll fight you just as hard as the criminals since you acts are of cowardice and I view you as spineless traitors.
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For the morons who ask what I do and question my "motives" perhaps the posts below, including mine, will show you a bit. It's forum run by a major real estate law professor who has graciously allowed me to post and even rant sometimes against some of the others who are the crooks and defending the crooks. April and Max are a few of the other "advocates" allowed to post, but rest assured, what we all are doing is having MORE effect than some of you see or care to see.

Again, those of you who want to whine and fight, bring it on and be a man or woman and leave it off here, email me so I can fight back in private, like I do in many other cases.

From: O. Max Gardner III []

There will be much more to come out of the Ohio Foreclosure cases than has been reported to date. I am afraid the three orders entered by Judges Boyko, Rose and O'Malley have opened up a window into the outsourcing practices of the mortgage servicers and what we are going to see will be very ugly. Just stay tuned because the next shoe is about to drop.

O. Max Gardner III
Max Gardner's Bankruptcy Boot Camps
Next Open Boot Camp: Dec. 7 to 10 (Spaces Open)
PO Box 1000
Shelby NC 28151-1000
704.487.0616 (v)
704.418.2628 (c)
888.870.1647 (f)
Check out Boot Camp Photos at:
Google - O. Max Gardner III
Read Max's Blog:

"As through this world I've wandered, I've seen lots of funny men.
Some will rob you with a six-gun, and some with a fountain pen."
Woody Guthrie, 1939 Pretty Boy Floyd

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered...."
Thomas Jefferson

Deuteronomy Chapter 15
1 At the end of every seven years thou shalt make a release.
2 And this is the manner of the release: every creditor shall release that which he hath lent unto his neighbor; he shall not exact it of his neighbor and his brother; because the LORD'S release hath been proclaimed.

-----Original Message-----
From: DIRT - Real Estate Lawyers Listserv [mailtoIRT@LISTSERV.UMKC.EDU] On Behalf Of Patrick Randolph (UMKC Dirt)
Sent: Saturday, November 17, 2007 4:32 PM
Subject: [DIRT] FW: A foreclosure defense advocate comments on Ohio fed eral decision on foreclosures

see my comments at end: Pat


From: []

The reason these cases ended up in Federal Court was the greediness of the servicers, Wall. St., and lawyers in Cleveland like the judge said. Foreclosure bar and their clients in Cuyahoga County were angry by the 1 to 2 year foreclosure backlog in State Court and it not conforming to timelines of investors.

A "brilliant" lawyer who was given many industry "kudos" and awards for his "unique approach" figured out that many servicers were out of state and many mortgages over $75,000 limits of court. He figured they could get "faster" justice in Federal Court and miscalculated that Federal Judges and their clerks look a little closer and don't ignore procedure as many "local" judges are that have been elected to office.

We have found a pattern that many of the elected judges in major markets in judicial foreclosure states were lawyers for the title companies and banks in their prior practices. They got their fundraising from these same sources.

There is more to come on this issue, but this fact is known, the Federal Scrutiny has now raised MAJOR problems that April and I have been talking about for years. Frauds on courts, holder in due course and most importantly the TRUE SALE issue will be interesting questions in addition to my question for 14 years "who owns the note?"

Pat responds: I posted this one so that those on the list can get a taste of the passion and world view of those who are attempting to defend against the foreclosure industry. The adjectives and moral judgments run thick. A desire for prompt realization of legal remedies becomes "greed" for instance.

As to the question of the transfer of the note, I think that those in the securitization industry who rely on the holder in due course rule may indeed find that they will be frustrated on a number of grounds - chief among them the widespread "close connectedness" doctrine, which holds that one who consistently deals with the same originator and controls the lending practices and choice of documents of that originator is likely to be found "closely connected" to that originator.

And there is at least some indication that there has been some sloppiness in the industry about documenting transfers. MERS was set up to address this issue, but apparently, in the Ohio Deutschebank case, the securitizers decided that they didn't need MERS. But I should note that the fact that an assignment has not been recorded does not mean that the assignment did not occur. And, if it did occur, the fact that the documentation and recording are later corrected does not mean that the assignment occurs at the time the corrections are made, rather than at the time that the assignment in fact was contracted.

If it is true that some securitizers sold interests in mortgage loans without in fact getting control of those loans, then there likely is a serious problem in those cases, but I continue to believe that this was not a rampant practice in the industry. Even in a business community that seems to have endured an epidemic of stupid practices, there probably is a limit to the stupidity. At least I hope so. We'll see.

Nye Lavalle
Pew Mortgage Institute
3334 Peachtree Road
Suite 207
Atlanta, GA 30326

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Secretary of State Rice has acknowledged a communique from Israeli foreign minister Tzipi Levni which requests that all foreign aid payments and loans from the United States be made in Euros rather than in Dollars. Foreign Minister Levni cited the rapidly declining dollar and it's disfavor as a world currency as reasons for the request. "In the spirit of Yom Kippur, the United States will not hold Israel to any agreements obligating them to accept Dollars as payment for their foreigh aid. We will translate our obligations into Euros or whatever currency that best fits Israel's needs" Secretary RIce said in the Friday, Sept 21 announcement.
"We need to place our Israeli obligations at the top of our national prioriy list. Israel should not suffer any inconvenience due to currency fluctuations" said Rice before heading off to Camp David.
A similar request from Egypt was declined last week

It should be slap in the face when other countries are mad at us for giving them  billions of U.S. taxpayers money .

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4 justice now
Gee Thanks! Greg.

Words just can not adequately convey the level of disgust that I'm feeling at this very moment.



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On Nye Lavelle's Contributions

I have been away from this site for quite a few weeks and am only just now trying to catch up with recent posts.

I would like to weigh in regarding some of the ongoing venom which seems to be directed towards Nye Lavelle.

I have found posts and contributions to the site from a number of people to be helpful to me personally in my litigation with MERS.  Several correspondents who post here have also shared thoughts, cases, pleadings and data with me, for which I am most appreciative.  Foremost amongst those who have voluntarily shared information with me is Nye Lavelle.

I certainly do not AGREE with or subscribe to all of Nye's views.  I have also found myself in online conversations with Nye where differences have been expressed.  But at the end of the day, Nye is still on OUR TEAM.  And he is a very valuable member of OUR TEAM.

One of the strengths of TEAMWORK is that various people bring different knowledge, experience, skills, approaches and judgment to the table.  No one has a monopoly on GOOD IDEAS.  And given the size and scale of modern mortgage markets, no single person can be omniscient and all knowing.  We will DEFEAT the dark forces by SHARING INFORMATION and collaboration.

Personal attacks, invective, insults and name calling whether directed at Nye or any other person have no place in this Forum!  Lets try to get our oars in the water and make sure we are rowing generally in the SAME direction.  The deck is stack so seriously against us, that we have no time for the foolishness of discourtesy to one another!  Why are we needlessly expening our energy fighting amongst ourselves when our REAL adversaries are so much more meritworthy of our attention?     
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sir John
here , here , I second that motion  , very well said

you are a true scholar and your wisdom is worth reading
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