Friday, May 27, 2011

OHIO judges SHOOT down predator drone

     BREAKING NEWS - NEW OHIO APPELLATE COURT DECISION
Reversal of lower court (Summit County) ruling.  "The judgment of the Summit County Court of Common Pleas is reversed and remanded for further proceedings"....and
Affidavit Fail  "CitiMortgage failed to prove, through its affidavit or otherwise
that it complied with the notice provisions of the mortgage..and the Elia's {Homeowner} assignments of error are sustained.















Slipping shoddy, manufactured and bogus paperwork past the lower court local judges (old, out-of-touch, too busy) on the “fast track” to foreclosure…used to be easy! The judicial wheels were spun out of control by the large Predator Drone Foreclosure Mills and "Bench Warmers" (local counsel used to foreclose) seeking the highly sought after and computer generated “Green Light” rating (used by LPS Desktop Solutions). Unfortunately thousands of Ohioans lost their homes while these FRAUDclosure factories and drone filing attorneys operated openly in front of Ohio judges that were asleep-at-the-wheel. (Link to report).

However, recent media attention (certainly not from here in Ohio) turned the spotlight on fraudulent and criminal behavior, used by many Foreclosure Mills, to create and execute documents which are genuinely (legally) needed to initiate foreclosures.
Now, the mindless and legally void factory approach used to ram-rod thousands of FRAUDclosures through the judicial machinery of Ohio’s 88 county Civil Court system ….appears to have finally hit a cog. The "stick-in-the-wheel" - recent published decisions coming out of some of Ohio's twelve Appellate Courts. The Appellate courts impanel a 3-judge ruling body and seem to have finally been awakened… from a deep legal sleep of some 5+ years. As of late, the appellate courts have been routinely overturning, dismissing and returning cases to lower courts which had improperly awarded Summary Judgment to pretend lenders, bogus trust & trustees, and improper plaintiff parties.

Below findings: from Court of Appeals OHIO 9th District
Case: CitiMortgage, Inc. v. Elia, 2011-Ohio-2499 (right click & open in New Tab)
Date: May 25th, 2011
Plaintiff: CitiMortgage
Predator Drone Foreclosure Mill:  ERIN M. LAURITO,  Attorney for plaintiff  {CitiMortgage} 
 
Laurito, on behalf of CitiMortgage, apparently felt she didn't need to bother with "NOTICE" or even follow any Rules of LAW for "Default." Apparently, she felt the same as and for needed requirements to "Accelerate" (full amount due). Ohio's 9th Appellate Court at:
{¶13} This Court has recognized that “[w]here prior notice of default and/or acceleration is required by a provision in a note or mortgage instrument, the provision of notice is a condition precedent and {¶15} "The only statement ....that even hints at CitiMortgage having complied with the notice provisions ..is....that CitiMortgage “has elected to call the entire balance of said account due and payable,[.]”...CitiMortgage did not present any evidence of written notice actually having been sent to the Elias. Moreover, CitiMortgage did not file any response or reply, much less any additional evidence, when the Elias directly challenged the notice deficiency in their own affidavits in support of their memorandum in opposition

The court was further insulted that Laurito "apparently" thought her having to respond to the appeal by Elia was a waste of the courts time and judicial resources. The 9th Appellate Court also at:{¶15} ..On appeal, CitiMortgage’s response to the Elias’ notice challenge is that it would be “a waste of [] judicial resources” for this Court to remand this matter because the Elias clearly know they defaulted and CitiMortgage would simply re-file its motion, {next time} adding language that notice was provided. 
The court responded to this obvious slap at their authority (by Laurito) at {¶15}.."Had CitiMortgage filed proper materials in the first instance, however, far more judicial resources might have been saved.  The plain language of the mortgage clearly requires that the Elias be given notice “prior to acceleration.”  It was CitiMortgage’s burden to prove that the notice was given....we cannot conclude that CitiMortgage met its initial... burden and showed that it complied.
Homeowner Elias pointed out for the court - what they thought was an obvious Robo-Signed affidavit that was void of truth (FRAUD!)....{¶11} The Elias argue that CitiMortgage’s affiant, Menne, could not have personal knowledge of the truth of the statements set forth in his affidavit because: (1) CitiMortgage was not even assigned the mortgage until after the alleged default occurred; and (2) Menne’s affiliation with CitiMortgage was in question, as he claimed to be a vice president of both CitiMortgage and MERS “at virtually the same time.”
The court was clearly troubled by this and even tried to point out the conflict and improbability of the affiant holding down a prestigious title of Vice President for multiple entities and banks - at the same time. The court stated {bolding and underline mine for added emphasis} 

....{¶12} ....{W}e are troubled by the fact that CitiMortgage opted not to respond, either in the court below or on appeal, to the Elias’ argument that Menne’s affiliation with the bank is questionable. Specifically, the Elias correctly observed that, on February 2, 2009, Menne signed an assignment of the mortgage at issue as a vice president of MERS and, on March 3, 2009, he signed the affidavit in question as a vice president of CitiMortgage. 

The Elia decision (above) is another example of proper adjudication within the Appellate system. Elia is supported by a similar decision out of Ohio's 5th Appellate District Court, which found bogus affidavits with legal foundation - being a "Screen Shot" from a computer - could NOT be used or relied upon. The Home Equity Theft reporter analysis (here)

Unfortunately the appellate court can only make note of some issues (and cannot rule on them) if defendants did not "properly" raise them AND provide evidence, at the time of appeal. But the court helped  (hint – hint) defendant/homeowner know - what to provide - when the case is OVERTURNED and sent back to the lower court .The 9th court at {¶12} .....Without any additional evidence in the record before us that actually contradicts Menne’s assertion that he was a vice president of CitiMortgage at the time he signed an affidavit on its behalf.....we cannot reject his averment ....on the basis of the Elias’ unsupported observation.

Fraud is Fraud…no matter how many times you cover it up. You can’t legally unscramble the foreclosure omelettes  “Cooked-Up" by the FRAUDclosure factories (LPS and MERS) along with the Predator Drone Mill Attorneys. Unfortunately our judicial system continues to allow them.…. to try again - over and over - to give bogus plaintiff - multiple attempts to “get it right” (WHY?)
This legal nightmare is paid for by the TBTF banks, rather than negotiate a settlement, provide a loan mod, or ...gasp...try some principal reduction. The banks would rather throw money at the attorneys until they financially exhaust the homeowner (or drive them insane) with on-going and never ending legal filings. All this in an effort ... to pry the home ..out from the rightful owner. Yea..this helps the "housing recovery"
Thank God the Appellate courts (which are are feed up) are no longer awarding a “Free Home” to the fake lender/owner/plaintiff. They are making the foreclosing party prove up "standing" to invoke the jurisdiction of their courts. Although I don’t see the Predator Drone (Mill Firms) FRAUDClosure efforts stopping. The good judges, have finally peeked out their courtroom windows and apparently see the blindfolded lady ….attempting to balance....the Scales of Justice. Thank You OHIO Judges! for getting it right!
The 9th Appellate Court:
{¶16} ...we do agree that CitiMortgage failed to prove, through its affidavit or otherwise, that it complied with the notice provisions of the mortgage.  As such,... {¶17} The Elias’ assignments of error are sustained for the reasons set forth above.  The judgment of the Summit County Court of Common Pleas is reversed and remanded for further proceedings consistent with the foregoing opinion.

BETH WHITMORE       FOR THE COURT
MOORE, J. BELFANCE, P. J. CONCUR

Honest working Attorneys for the Defendants: (Ziad and Holley Elia):                                                     MARGARET A. MCDEVITT, and JULIUS P. AMOURGIS, Attorneys at Law, for Appellants.

Sunday, May 22, 2011

TBTF - Too Big To Fail

Title:      "TOO BIG TO FAIL"
What:   HBO Films Docu(drama)mentary
Date:    Monday May 23, 2011
When:   9:00pm est
Where:  HBO Network

Why: If you really want to know how the "Wizards of Wall Street"
(Big Banks and Wall Street Investment Firms) Collapsed the entire world's economy
You must see this HBO Film - Documentary
               THE TITLE  -  SAYS IT ALL
HBO brings the whole sordid tale to the screen in the sensational original two-hour movie based on the book with the same name by Andrew Ross Sorkin
NEWYORK POST (Review by Linda Stasi)- Right click and Open in New Tab for review
...."They cheat. They steal. They lie. They leave hardworking families homeless. They undermined the entire economy of the United States for their own personal greed. They don't go to jail and still get billions in bonuses.  Who are they? They are the Wall Street SOBs who brought the US to its knees, that's who. Too bad to be true? No." The movie tells the minute-by-minute, seat-of-the-pants story of how Treasury Secretary Hank Paulson (William Hurt) tries to wrangle the arrogant CEOs of the giant financial institutions. It's like watching the meeting of the five families in "The Godfather," except that these five heads were part of the industry that brought not just their enemies, but the whole country, to its knees.
The group includes JP Morgan's Jamie Dimon (Bill Pullman), Goldman Sachs' Lloyd Blankfein (Evan Handler), Morgan Stanley's John Mack (Tony Shalhoub), Merrill Lynch's John Thain (Matthew Modine) and Citigroup's Vikram Pandit (Ajay Mehta).



More info - here - from HBO: "Too Big To Fail "- Right click and Open in New Tab to:  
Read movie Synopsis, Bios, and hear from the Cast and crew
Really Cool: Click here for "Source Documents" used by Andew Sorkin for his book
PDF document showing NYSE Dow Index compared to the "Timeline of the Crisis"

MAY 2010:  OHIO Senator Sherrod Brown (D): ....The biggest problem is the enormous size of the institutions being regulated. "Too big to fail" means they are simply too big, and shrinking them is not on the table.  Last month, Senator Sherrod Brown explained the size problem this way: "Fifteen years ago, the assets of the six largest banks in this country totaled 17% of GDP.  The assets of the six largest banks in the United States today total 63% of GDP, and that’s too (big) - we’ve got to deal with risk to be sure, but we’ve got to deal with the size of these banks, because if one of these banks is in serious trouble, it will have such a ripple effect on the whole economy." Representative Alan Grayson said,"Too big to fail means too big to exist. I don’t think the big banks will get appreciably smaller until after the next meltdown, and one is coming sooner than later Read the Rest Here..from USAWatchdog (Right click and Open in New Tab)

JULY 2010:  OHIO Senator Sherrod Brown (D): Sent a letter to the 4 largest banks, calling on them to work with homeowners facing foreclosure. (Text of letter Here) Nothing happened!

APRIL 2011:  OHIO Senator Sherrod Brown (D): Introduces landmark legislation titled  Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011
(We covered - in detail - on this blog - Click HERE)

Tuesday, May 17, 2011

CHASE - Updates - LIVE from Columbus


Dimon ends with: "Thanks for coming......meeting adjourned" 
More from Inside the Chase Meeting: scroll to the bottom of this post

Columbus Dispatch Headline: Chase Meeting..Draws Protesters
Shareholders trying to get into JPMorgan Chase & Co.'s annual meeting in Columbus this morning were greeted by heavy security ....outside every entrance.....               
HEAVY SECURITY ALERT: Riot Police on Horses...Stand Ready
The article goes on to say.....
Police had every entrance blocked, as hundreds of protesters gathered in the rain and cold chanted slogans such as "Make Banks Pay" and carried signs that said: "Chase gets rich, we lose homes, jobs, services." At least 20 police cruisers circled the building. (Why? ...at a public shareholder meeting!)

      UPDATE: ABC NEWS 6onyourside is showing "Hundreds of protestors"

                                      "Can you hear us now"
                     JP MORGAN CHASE - CEO - JAMIE DIMON


These are real American homeowners and taxpayers that sacrificed by making the long trip. They want to be heard ! JPMorgan Chase & Jamie Dimon
                                       ARE YOU LISTENING????

ABC NEWS 6onyourside is showing this as NEWS....Click HERE

               Early Pictures from the   "Showdown at Chase"

                              
 SEE MANY MORE PICS FROM FLICKER SLIDE SHOW .....HERECHASE MOAT BREACHED at 9am by "Robin Hood"
As many know, the Chase headquarters are a walled in complex, surrounded by a real moat. An internal memo showed Chase was going to try to limit access to the headquarters...but they never expected ROBIN HOOD to arrive.  Robin Hood and his Merry Men were able to cross the Dangerous Moat and head towards the CHASE Financial Castle (YouTube) on their ingeniusly constructed - make-shift bridge.

Suddenly....they're driven back across the Chase Moat by Riot Police....and dogs !


Sadly Robin Hood is Captured!!! (Arrested)






Huffington Post: Police Mace JP Morgan Chase Protesters

See all of today's events and  photos at National People's Action (NPA) on flickr 

AP Photo/JayLaPrete

JAMIE DIMON: (only spoke for 8 minutes)...OPENED his statement to JP MORGAN Shareholders by... BRAGGING ..."In 2010 JP Morgan made $17 Billion  DOLLARS"...and we could have made $22 Billion to $24 Billion

Richard Davat:  1st shareholder to speak (10:16am) opened with comments about FRAUD in FORECLOSURE, he claims Chase employees and corporate management refuse to work with him and other homeowners. Quoting: "In Ohio CHASE commits FRAUD upon the courts by using FRAUDulent documents" Then while attempting to quote some OHIO LAW.....A Chase monitor interrupted Richard and stated: "We must cut you off"..  The Chase monitor stated "there are rules of order and you've gone OVER 3 minutes" and "get to your point" ..at 10:21...Chase CUT OFF HIS MIKE !!!

New York contingent: Told CEO and Board Members: "You have violated public trust" and "the bank is involved in Robo-Signing"

Melowise Cooper: (former Cincinnati OH Homeowner)....in near tears...explaining that Chase took her home through foreclosure and then abandoned it..."you just walked away, from a home, my family owned for years"

Illinois Homeowner(Ms. Howell): "I've brought my paperwork --please help me"...she left the podium to loud applause!!!

Kevin Stein: (California Reinvestment Coalition ): states it was hard to get in building as police questioned their Proxy statements...and that Chase has foreclosed on more homes in CA. than any other State!!! "The fact is..Chase is NOT doing enough to help people."

Dawn Dannenbring: (Illinois People’s Action)..“you shouldn’t take advantage of people when they’re down....Mr Dimon....Do you believe in God?

Baldemar Velasquez, FLOC President, and Beatriz Maya, FLOC Secretary-Treasurer, spoke on behalf of Farm Labor Organizing Committee and distain for Chase's massive support (with $500 million) to Reynolds America

THERE IS NO HIGHER RELIGION THEN HUMAN SERVICE. TO WORK FOR A COMMON GOOD....... IS THE GREATEST CREED......"WOODROW WILSON"

The Showdown in Ohio was organized by National People’s Action and the Ohio Organizing Collaborative, and is part of the New Bottom Line Campaign.
follow on twitter: @NBLcampaign, @streetactionNPA

Monday, May 16, 2011

CHASE - Time is up - buses are rolling - LIVE UPDATES

National People's Action - New Bottom Line -  Make Banks Pay - Americans
                                   SHOWDOWN IN OHIO
      Tuesday May 17th - 2011 - 10:30am - 1111 Polaris Parkway - Columbus Ohio

Buses are rolling!!! Americans are coming !!!                  We spoke LIVE at 11:00am - to two separate state contingents - they have full buses of concerned Americans, they're bringing the message to J P Morgan Chase:  Time is up. Its now time for your big bank to pay their fair share of TAXES!, Invest in our communities, and help stimulate the economy with real loans & real jobs.
 STOP the FRAUDclosures!

Chase- The following groups are bringing a message:
Ohio - Policy Matters Ohio, Northeast Alliance for Hope,
Mahoning Valley Organizing Collaborative
Empowering and Strengthening Ohio's People
Ohio State Baptist Convention, CWA District 4
CCISCO: Contra Costa Interfaith,
United Students Against Sweatshops,
National WAMU Homeowners Support Group
UFCW Local 75, Local 1059
SEIU Local 1, SEIU District 1199
Northeast Alliance for Hope, The AMOS Project,
Alliance to Develop Power, Kirwan Institute,

Illinois -  Illinois People's Action ,



Communities United for Action
Working in Neighborhood
Iowa - Citizens for Community Improvement
Minnesota- Take Action Minnesota
Michigan - Michigan Organizing Project
Grass Roots Organizing
Community Voices Heard' Lakeview Action Coalition
Southsiders Organized for Unity and Liberation
New York - PUSH Buffalo
Northwest Bronx Community & Clergy Coalition
South Austin Coalition Community Council
Sunflower Community Action, Syracuse United Neighbors
Voices of Community Advocates and Leaders
Farm Labor Organizing Committee
Single Payer Action Network
HVLGBTQ Community Center, The Carpe Diem Voice
Bailout Films, LLC, M.O.M.S. Movement

Allies:
OHIO FRAUDclosure, Virginia Organizing, Tubman Institute
Neighborhood Economic Development Advocacy Project
Communications Workers of America
Moveon.org, USUncut
Center for Community Change

The Showdown in Ohio is organized by National People’s Action and the Ohio Organizing Collaborative, and is part of the New Bottom Line Campaign.
twitter: @NBLcampaign, @streetactionNPA

Mahoning Valley Organizing Collaborative tweet:
We're on the way down to Columbus for a for our economy. Going to at the chase shareholder meeting.

Friday, May 13, 2011

Update - Showdown in OHIO - Update

                JP MORGAN CHASE & CO 
Clergy, Homeowners, Workers travel to Columbus for 
                        - Showdown in Ohio -
When:  Tuesday May 17th - 2011
Where: Columbus, OHIO – Corporate Headquarters
 1111 Polaris Parkway, Columbus, OHIO (Google Map Link)

Time:  10:30AM - until..... JP Morgan CHASE "listens to Americans"
Event:   Shareholder Meeting
Who’s invited: Public Shareholders of  JP Morgan Chase (JPM)
Why OHIO?
OHIO is ground zero and proof positive of the success in which JP Morgan Chase has had with Foreclosure as a Business Model. The cost of JP Morgan Chase foreclosures to the State of Ohio taxpayers is estimated at $5.4 billion.
Ohio is one of the states hardest hit by the epidemic of foreclosure and joblessness caused by Wall Street.  It is a state where unions have been under attack, and where hard-won labor rights that built the middle class have been stripped away from teachers and public sector workers.  Big banks like JP Morgan Chase are destroying neighborhoods across the state with record foreclosures.  More than 280,000 homes are expected to go into foreclosure in Ohio by the end of next year, putting even more families out on the streets and depleting the tax base further. JP Morgan Chase had rejected 354,822 families from the Obama Administration’s Home Affordable Modification Program (HAMP) almost as many as Bank of America and Wells Fargo combined. 

Mahoning Valley Organizing Collaborative spokeswomen Sybil West:
    "[They've]...had a devastating effect on Ohio and America’s economy, and they need to start being part of the solution. Chase needs to modify mortgages to keep people in their homes and needs to start lending to small businesses to create jobs and rebuild the economy.”

Since the financial industry bailout, Chase reduced small business lending in Ohio 75%, resulting in increased unemployment and a diminished tax base.  Protesters will draw the connection between Wall Street abuses and Ohio’s revenue crisis. This action comes as the Attorneys General and the big banks are negotiating whether the banks will be required to offer principal reductions to homeowners - the single most important tool that would help resolve the foreclosure crisis. The protest in front of JP Morgan Chase shows, homeowners around the country will not accept a settlement agreement that does not include principal reductions or lets the banks off the hook!

A new report by National People’s Action shows that nearly 1 out of every 20 housing units in Cleveland, Cincinnati, and Columbus have been lost in foreclosure and have become bank-owned property during the last 3 years.

According to SEIU, JP Morgan made $125 million in savings and checking fees in Ohio in 2010 with $.33 per $1 going to compensation and bonuses. That means JP Morgan Chase took $41 million out of Ohioans’ bank accounts in 2010 and gave it directly to fund big bonuses.

Attendees:  1,000 clergy, homeowners, unions, and members of National People’s Action and Ohio Organizing Collaborative. Speakers include the SEIU President Mary Kay Henry. 

Ohio Governor: Newly elected Ohio Gov. Kasich has long relied upon Wall Street to fund his political career.  Between 1990 and 2000, when Gov. Kasich served in the U.S. House, he raised $320,646 from the securities & investment industry, and 3 of his top 5 corporate patrons were banks! Among them Bank One – a company he used to lobby for -- which gave him a total of $47,500 (now owned by JP Morgan Chase) JP Morgan also contributed $10,000 to Kasich’s inaugural [governor] committee.

Why JP Morgan Chase: Despite being bailed out with public tax dollars after almost destroying the global economy with their recklessness, JP Morgan Chase and its CEO Jamie Dimon are back to making record profits by any means necessary.  In Ohio, JP Morgan Chase is gouging state and local governments with toxic interest rate swaps that siphon tens of millions of public dollars from Ohio to Wall Street, cheat counties out of mortgage recording fees, destroy communities through foreclosures, ship jobs out of Ohio, cut off lending to small businesses, and charge Ohioans millions in fees.  Instead of lending to small business to create jobs and keeping families in their homes, JP Morgan Chase is blaming the middle class for the sins of Wall Street.
As of June 2010, JP Morgan Chase had $19.5 billion worth of foreclosed homes on its books—more than any other bank in the country.  Another $54.5 billion of mortgages that the bank services for other lenders were also in foreclosure.  Despite large incentives from taxpayers, as of January 2011.

Visuals:  10’ puppets, huge banners and signs

Read BOTH of the below linked stories, and then ask yourself..
Can I really sit back ...and continue....to do nothing!
Stories are well written and courtesy of Martin Andelman blog "Mandelman Matters"

INSIDE CHASE and the perfect foreclosure:

"JPMorgan CHASE is in the foreclosure business, not the modification business’."  That, according to Jerad Bausch, who until quite recently was an employee of CHASE’s mortgage servicing division working in the foreclosure department.....Bonuses were based .......on how quickly you were able to foreclosure on someone,” Jerad says. ... It was all about being able to show that foreclosures were being processed as efficiently as possible.”

HOMEOWNER suffers horrific injustice at the hands of JP MORGAN CHASE
As a warning… this story is not for the squeamish.  If you’re pregnant, or have heart disease, or just want to go on pretending that your country is still a place of which you’re proud… it’s better that you click off now… because this one is NOT going to make you laugh.....by M. Andelman 
P.S. Hey bloggers… Facebookers….. please help me get the word out on this… post, re post, tweet, re-tweet.  We can’t save everybody, so let’s save one at a time. I’m hoping Chase sees this and stops the eviction… otherwise this couple could be fighting this from a homeless shelter.  





Tuesday, May 10, 2011

OHIO - JP Morgan Chase - We're # 1 in Foreclosures

JP MORGAN CHASE & CO - We’re Number ONE !!!! (1)
What:   A Celebration of  Foreclosure as a Business Model
When:  Tuesday May 17th - 2011
Where: Columbus, OHIO – Corporate Headquarters
Event:   Shareholder Meeting - Showdown In Ohio
Who’s invited: Public Shareholder’s of  JPMorgan Chase (JPM)
Why: Why have this celebrations & shareholder meeting in OHIO?
We know your probably thinking - this type of business celebration and fiscal success should be held somewhere in New York or at a Wall Street firm. But, OHIO is ground zero and proof positive of the success that JP Morgan Chase has had with Foreclosure as a Business Model. Remember the famous quote by actor Michael Douglas as Gordon Gecko in Wall Street.. 
"Greed is Good"
A recent report on foreclosures in Ohio’s 3 largest cities* helps show that..
 FORECLOSURE - as a business model - is Good !!
The biggest and most exciting News: As an owner of JPM stock you share in the wealth of the REAL ESTATE OWNED (REO) portfolio.  JPM & Co. recently presented** their very successful foreclosure business model.  As of 6-10-10, JP Morgan & Co., had a staggering $ 19 BILLION in foreclosed properties(1) (under their management)  and were able to  lay claim to a status, prestige and title:
CHASE – NUMBER ONE - in AMERICA - for FORECLOSURES(1)
Who knows, this may be another hit television show in the making - "America’s Foreclosure Kings": We want to own your home - we evict deadbeat homeowners - WE LOVE vacant properties. Read along ....all this week ....as we report
FORECLOSING on OHIO – a litmus test for financial success 


** 6 months ago, (Nov 4, 2010) while being questioned about Chase's "temporary delay" in foreclosure filings, Charlie Scharf, head of Chase retail financial services unit, sought to calm a group of worried analysts and investors during a presentation in Boston MA.  The investors were worried as only 3 weeks prior to the conference; Chase had suddenly stopped foreclosures in 40 states, and on roughly 127,000 loans. Additionally, they had stopped 8,200 eviction proceedings (of occupied) REO (Real-Estate-Owned) properties. It appeared Chase had massive exposure to the so called robo-signing scandal.
Scharf stated that most of the paper problems were simple "affidavit issues" but confirmed it could cost the company a few million dollars for every month that foreclosure proceedings were delayed. However, Schaff quelled investors’ worries by stating that re-filings with fraudulent new paperwork would begin in a few weeks and would only take three to four months to complete.
Moreover, Scharf stated all the company’s foreclosure decisions were "based on materially accurate information" and Chase had multiple controls in place to assure that all property records had been properly assigned and transferred.
Finally, Scharf's presentation showed that JPMorgan’s default employees (currently numbering around 17,000) had independent "operational processes" in place - to assure - all foreclosures were proper. That process was checking a loan status - twice.  First before a loan was  referred to a Mill Firm attorney for foreclosure and then again, before the final foreclosure sale. This process obviously doesn't apply, if you live in Arizona!


Below are excerpts from the 41 page report (full report linked at bottom): 
….The ability to continue to foreclose is critical to continued economic and real estate recovery (translation we have 375+ billion dollars worth of exposure, and we need to unload this crxx - as soon as possible – we’ll simply call it Economic Real Estate Recovery) Will $56 Million help? for Chase overcharging 6,000 active military
….We strongly believe foreclosures should not be delayed any longer than necessary (translation: Judges…go back to sleep…and get back to Rubber-Stamping our foreclosures as we have profit margins and analysts’ projections to meet. Our stockholders & investors can’t be delayed by any legalities or Rules of Law.)  JP Morgan will foreclose - even if your an Ohio Judge  
….{Any} further foreclosure delays will damage communities and the economy(what? - silly me - of course any delays to the emptying of occupied houses and further blighting cities will damage the economy! Our drug-dealers need safe-houses to store and sell drugs in order to quickly stimulate the economy
…..{F}acts and circumstances supported {our} decisions to foreclose but if we become aware of any fraud exceptions, we will fix them (translation: hopefully this Robo-Signing thing will blown over quickly….and we can FRAUDulently create needed transfers and bogus assignments)
......Pg 29....{All} the following are ...…Misconceptions:
{that} liens were not properly transferred
{that} foreclosures are pursued too aggressively and completed without sufficient review
{that} foreclosure decisions are not supported by underlying facts and circumstances
{that} servicers were not willing or able to staff up to cope with volumes....Inspector General to ask Chase to testify - only has modified 67,000 of the 204,000 eligible. + 2011 Class Action
.....Pg 6….by the way... JP MORGAN CHASE & CO has a Nationwide footprint (over 5,000 branches & 16,000 ATMs in 23 states) and “We operate from a position of strength” and “We will be appropriately paid for the services we provide

* ShowdownInAmerica-Foreclosing_on_Ohio

**Presentation of November 4, 2010

(1) SNL Finacial report 6-10-10 - JP Morgan Chase had the highest dollar value, 19.5 Billion, of 1-4 family homes in foreclosure. JP Morgan Chase had an additional 54.5 BILLION in foreclosure properties which it serviced for others.

Thursday, May 5, 2011

U.S. Government to Prosecute mortgage Fraud?


UNITED STATES OF AMERICA
VS
Deutsche Bank AG and MortgageIT Inc.

United States Court: Southern District of New York
Case: 2011 CV 2976   Jury Trial Demanded


            
  Explosive News……. or ….........Flash Bang ….........you decide

The name of this blog is OHIO FRAUDclosure, so we want to stay on target topic. However, this appears to be such a major news story and seems directly related to the on-going investigations of FRAUD in foreclosures. That – we simply have to report on it.
I’ll present the information, and then you decide. Is this major and EXPLOSIVE NEWS...or …maybe….just a "Flash Bomb." First, I’m going to try to give it what it needs….a little intrigue and mystery…so you'll have to wait.....for our report.
This is much bigger than the State of OHIO and it is proof positive of our U.S. Government taking action! This is clearly a follow-up from all the information gleaned from the congressional hearings (held last fall) and must somehow be tied-in with the investigations currently being conducted by ALL 50 State Attorney Generals. This is the big one! This is the mortgage investigation and news we’ve all been waiting for. Certainly by now, you’ve read about it, if not having first been texted, tweeted (Twitter) or alerted via the Internet, or another blog. If you Google or Bing (Search) the case file number or named criminal Bank…..it’s a HEADLINE Story. Unfortunately, you will probably get the exact same copied story (UPI reported) and headline everywhere. At least it got some coverage…shortly after being filed in a N. Y. Federal Court on Tuesday morning. But, it "apparently" got lost as being "big news" in New York, since major media and news coverage was focused on the killing of Osama Bin Laden. Darn - What bad timing….you know….for a FRAUD and Foreclosure story of this magnitude.  It got more mainstream coverage on Wednesday – some of it - making the first few pages of major newspapers. The most detailed coverage was through bloggers nontraditional & Internet news outlets (Bloomberg and MSN).  Unfortunately, there are a few folks out there that believe the timing of the lawsuit….well....let’s just say…..was untimely ….and this EXPLOSIVE HEADLINE …well ......may in fact.....simply be.........a headline.
MAJOR Explosion, MAJOR News, MAJOR Headline,.... to be posted here - soon