MORTGAGE FRAUD WAS NOT ONLY NEVER FIXED, BUT IT WAS ALSO NEVER CHANGED AT ALL. FORECLOSING PARTIES ARE STILL ASSIGNING MORTGAGES AND DEEDS OF TRUST TO TRANSFER THE OWNERSHIP OF YOUR DEBT. THE SUPREME COURT MADE IT CLEAR THAT AN ASSIGNMENT OF A MORTGAGE HAS NO EFFECT... IN 1872!

Continue Reading: UNSEALED: DOJ CONFIRMS HOLDERS OF SECURITIZED LOANS CANNOT BE TRACED

THE DOJ IS NEVER GOING TO DO ANYTHING ABOUT THE MORTGAGE FRAUD BEHIND MILLIONS OF ILLEGAL FORECLOSURES



by Danny Hammond

"DOJ CONFIRMS: THAT THE TRUE OWNERS OF HOME LOANS CANNOT BE FOUND"

This is the stupidest news story of all time. The Department of Justice can't find a bunch of original Promissory Notes. We have known that for six years. In that time we have never seen even one truly legal original Promissory Note. But it sure does help me make my point.



In a filing unsealed on June 3, 2016, the Department of Justice (DOJ)  confirms what many of us
have known for years. Nobody, not even the U.S. Government, with massive resources, can
determine who owns your loan and has the right to collect on your promissory.  The information
comes from case files unsealed on June 3, 2016, by Federal Judge Yvonne Gonzalez Rogers of the
Northern District of California in the case of the United States v. Discovery Sales, Inc.

The case involves some 325 fraudulent loans originated by Discovery Sales, Inc. (DSI)
between
2006 and 2008, many of which were then sold to Wells Fargo Bank and JP Morgan Chase to
securitize.

The Discovery Sentencing document on page 9 states:

"The originating lenders who made loans to purchase DSI properties, including Wells Fargo and  J.P.
Morgan Chase, generally would not keep the mortgages and thus did not end up losing money as a
result of the DSI fraud scheme.

Instead, they would sell the mortgages to other banks who would package them in securities that were
sold to other investors. These securities failed when the underlying mortgages went into default.

It was impossible to trace the majority of the mortgage loans on the over 300 homes sold by DSI that
were the subject of the FBI investigation; it would have been harder yet to identify individual victims
of the fraud given that the mortgages were securitized and traded". (Emphasis added.)

To add more outrage to this case, while the government acknowledges the damages from the
the scheme resulted in $75 million in damages, the amount being paid by DSI in restitution is $3
million to Fannie Mae and Freddie Mac.

That is all, along with an $8.5 million fine that the government will pocket. Once again the
government is taking all of the money from a settlement with a fraudulent mortgage lender,
and giving nothing to the people who were damaged.

I guess that once again the "Sheriff of Nottingham" wins.

Oh, and one more thing. The “preferred lenders,” Wells Fargo Bank and J.P. Morgan Chase,
which were also involved in the scheme, were not charged even though it states they knew about
DSI’s shenanigans to inflate the value of their homes” in the sentencing document:

"Even though Wells Fargo and JP Morgan Chase had the information that the loans were
fraudulent, as per what has become standard procedure, the DOJ brought no charges against the
banks."

There is nothing new about banks selling off defective, fraudulent loans to securitized trusts,
and
once again the DOJ has found no reason to prosecute too big to fail banks for fraud. There is
much more to this story which we will not delve into at the moment, including the history of the
Seeno family which owns DSI and their connection before this and after to other funny business…

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