FedUpUSA

Archive for June 10th, 2011

In what may the start of realization in the securitized paper market, we have the following:

Defendants’ failure to strictly comply with the terms of the PSA means that the loan at issue was never properly transferred to the trust. Any transfer of mortgage loans, such as Plaintiffs, was mandated to comply with New York Trust law and the terms and conditions of the PSA governing conveyance of mortgage loans into the Trust. PSA pp 155 and 36. This the Defendants did not do.

The Court finds that the “Assignment”, recorded on December 30, 2009 in the Washtenaw County Register of Deeds, serves to transfer nothing. The alleged conveyance failed to comply with the terms and conditions of the PSA and New York Trust law which governs the PSA. The alleged conveyance stated that MERS assigned the Mortgage and Promissory Note to USB, however, there has been no evidence presented to support the chain of the required assignments and endorsements of the mortgage and note as required by the terms and conditions of the PSA.

And there you have it folks.  Formal, judicial recognition by a judge who actually looked at the PSA and the documents in question and came to the same conclusion that I and a handful of others did a few years ago and have been pointing out since: These institutions are “foreclosing” on loans they have no legal right to foreclose upon as they don’t own them. 

The corresponding fact that goes with this, and its truly ugly, is that the MBS investors were sold an empty box that does not in fact contain assets.

There should be a strong prosecutorial response to this: It certainly appears that these events were not “isolated incidents” but rather were pervasive through the years of the bubble and perhaps even before.  This has severely damaged land title records in that the debts incurred are not actually being paid, as the entity being paid doesn’t own anything and the entity actually owning the debt is receiving nothing!

Where are the damn handcuffs?

Oh, and….

Hendricks v. U.S. Bank, BofA

Hattip 4closurefraud

The Market-Ticker

What we have here is clearly a lack of understanding.  You see, the Constitution LIMITS the powers of government, it doesn’t expand them.  For some odd reason, Congress seems to believe the latter.  It’s time to remind them that the full extent of their powers are contained in a document that doesn’t even fill 35 three-inch by 6-inch pages.

We know our Congressfolk use The Constitution for toilet paper these days.  From Obamacare to the Department of Education kicking down doors on “no-knock” warrants to TSA rapescans and other forms of sexual molestation, The Constitution, Declaration and of course The Bill of Rights have been so widely disregarded as to become somewhat of a bad joke.

It’s time, coming into silly season, to put a stop to this.

Whether you’re a Democrat or Republican, this is a movement you should be able to get behind.  The message is simple:  Send your Critters A Constitution.

First, order them.  I recommend http://www.nccs.net, although you can also obtain nicely printed pocket-sized copies from The Heritage Foundation and other places.  They’re cheap; 100 of them are just $30, or 10 for $7.50, or one for free – just send a SASE to them.

Second, go to http://www.house.gov and http://www.senate.gov and get the correct mailing addresses for your Representative and Senators.  Address up some envelopes.

Enclose a letter with it.  Feel free to steal the text of what’s below, modified to suit.

The Honorable <First, Last>
xxxx {Name} {House|Senate} Office Building
Washington DC  {Zip}

Dear {Mr.|Ms.} <Last>;

Please find enclosed a copy of the Declaration of Independence, The United States Constitution, and the Bill of Rights.

When you assumed your office in Washington DC, you took an oath to uphold and defend The Constitution of the United States as black letter law against all enemies, foreign and domestic.  These are not “living” documents, subject to alteration at whim, theories or ideas.  They are, indeed, black-letter law and backed by the two seminal works in guidance on their interpretation found in The Federalist and The Anti-Federalist, much as the intent of legislation is backed by the record of debate in Congress, subject to alteration only through the amendment processes provided within.

Sadly, many Americans, myself included, are of the opinion that our alleged representatives in Washington, along with other elected and appointed officials, have forgotten their oath.  This letter is intended to remind you of the terms of the oath you swore and provide a handy pocket reference should you have questions as to your duties in this regard.

Whether you are a Democrat, Republican, Independent or otherwise is immaterial. Nor does it matter whether you consider your political philosophy Conservative, Liberal, Progressive or even Socialist.  You were elected to your office to represent your Constituents within the boundaries of the oath you swore, and that oath committed you to a duty to uphold and defend The Constitution, irrespective of your personal or political beliefs and ideals.

I, and others also sending copies of these documents, believe that a reminder of your oath and duty in this regard is in order at this time.  Please accept this gift, and be advised that I, along with others, are paying close attention to both your words and deeds, and we will not return you to your elected office in the upcoming election cycle if you are unable or unwilling to take your oath seriously, irrespective of your party affiliation or excuse for not having done so.

Thank you for your time in reviewing the documents that underlie the foundation of our nation, and may they guide you appropriately in your legislative activity.

Sincerely;

Stephanie Jasky

Time your sending of these Constitutions and their respective letters to arrive on June 22nd for maximum impact, as that’s the day I and others, including the fine folks at the Market-Ticker, have chosen.

Let’s pepper Washington with the very documents that they damn well ought to be paying attention to each and every day, testing their intentions and legislation against the foundational law against which all such activity must pass.

You can join in our discussions on the Forum here, here and here, if you’d like to coordinate efforts.  We also have a number of Constitutions to give away.  Our Forum does require registration to post.