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A Psychodrama in Four Parts
KNOCK KNOCK "The court is called to order! All rise!" Case #14:cv-00028-CHL "Is the Plaintiff present?" "Yes, your honor, I am the plaintiff." "Bailiff, note that Ms. Charlene DuBois appears today." "Is the Defendant present?" "Yes, your Honor, I am appearing for the four Defendants, BONY-M, AWL, Chris Coons, and the investors of CWABS-RTB, Series 2009-8." "Yes, your Honor, I am appearing for Defendant AAA World Title, Inc." "Yes, your Honor, I am appearing for the four Defendants, Lender Priority Services, Half Moon Contracting, Charles DeGaulle, and Monica Leigh-Trueheart." "Yes, your Honor, I am appearing for the Defendant Deutsch Bank National Trust Company-Americas." "Yes, your Honor, I am appearing for the two Defendants, Benjamin Button and David McCrae." "I object!" "Que fue?" "I have not reviewed the credentials of Mr. Steinway and I don't believe he is authorized to represent Lender Priority Services, Half Moon Contracting, Charles DeGaulle, and Monica Leigh-Truehear in this matter." "Yet I see that you have filed a certificate that you have met and conferred prior to your appearance here this morning?" "Yes, you Honor, we have met and conferred, and Mr. Geesing was unable or unwilling to review his letter of engagement with his clients, as I reported." "Mr. Steinway, why are you here this morning?" "We have been engaged in this matter by Lender Priority Services, Half Moon Contracting, Charles DeGaulle, and Monica Leigh-Trueheart. Our office has all that clerical stuff." "Well, I must at this point issue a continuance of these proceedings and we will reconvene on the second Tuesday of December, Ten O'Clock! Mr. Steinway, be sure to bring us some of that clerical stuff." KNOCK KNOCK [Repeat three times until they get the message.] ---------------------------------------------------- MEMORANDUM OF TRIAL MODIFICATION
attn: NAME OF DEBT COLLECTOR I appreciate your offer of a trial modification of my security agreement with NAME OF FINANCIAL INSTITUTION I am unable to execute this offer as presented today because: 1) I require disclosure of the terms of the new loan commitmnet, including a) Unpaid Principal Balance; b) Term in Months; c) Period Interest Rate; d) Amortization schedule; e) Name of Lender. 2) I require the presence of a principal or an authorized agent to execute this new loan commitment, simultaneously with myself, in my home; 3) NAME OF DEBT COLLECTOR is unable to act as trustee or mortgage servicer, as NAME OF DEBT COLLECTOR is named as party to three or more adversary actions in federal court. [SCHEDULE ATTACHED] I am opening an escrow account today DATE and depositing $$$$$$ per month on to serve as guaranty of my commitment to an acceptable new loan between our two parties. On execution of satisfactory agreement before ninety days, the funds will be released and applied immediately to the unpaid principal balance. VERY TRULY YOURS, /s/ ____________________________ DATE ________________ Eighteen Million and One
I have been reading the newspapers and I have heard that this real estate business is having a catastrophe of some sort, and now they want mine. They're making a big mistake! What should I do? Who wants your house? We started with Julia at Remax and were paying somebody in Pennsylvania for a few years, then we got a better deal, then they were kind of unreasonable, then we got a Notice of Deficiency from somewhere in California who we never heard of, nobody ever answers the phone, we hired a lawyer three years ago, he quit, now they have us listed for sale next week. How can we stop it? Who is the trustee? What is a trustee? ---------------------------------------------- INTERMISSION Private Property is the foundation of the American Economy, and has been since 1783. Everywhere else in the world, the wealthy people are landowners, and the peasants pay rent, from the day they are born, until they die. Mortgages were pretty boring unti about 1997, when we started monetizing this thirty year process, and getting our money immediately. To get caught up, watch the movies 99 Homes / The Big Short / Inside Job. They're on Amazon Prime. Get some popcorn. ----------------------------------------------- With people getting sick, with hurricanes all over the place, with death and divorce at untimely intervals, mortgages had some rough edges. The government guaranteed themfor a while, and took the hit, to make people feel better. But...there were more and more people...and less and less money...and the government was so slow...and there was the tax thing...so we invented the RMBS about 1997 to cover all the gaps. The Saudi Arabians could also park their money here in America, for a reasonable fee. Houses were tucked away in portfolios. People could buy tranches. The only problem was collateral. It no longer existed in RMBS's. Bankers had to become cowboys. Cowboys with bad habits. Read Bailout Nation. Other People's Houses. All the Devils Are Here. Chain of Title. Eric Holder's Memo of Collateral Damages. jasmithmonitoring.com www.weputthelimeinthecoconuts.weebly.com ------------------------------------------- INTERMISSION "I need a lawyer." "I'm sorry Dave, I can't do that right now." Read Win Your Case by Gerry Spence. Read Reforming the Federal Judiciary by Richard Posner. --------------------------------------------- Take your dispute to federal court. All state courts are corrupt. Take your dispute to a jury. All federal judges are corrupt. Form your dispute under the RICO guidelines. Inform the Department of Justice of your impending action. Under FIRREA 1989 guidelines, the only person allowed to sue financial institutions is the USAG. Under the qui tam requirements, you may assume the duty and responsibility of the USAG, if you report your intention a reasonable time before proceeding, and if you complete your investigation and prosecution at your own expense. The government reserves it's right of intervention should resources become available, and you will reserve 15-25% of any Private Civil Penalty you may collect. Read Saints and Sinners - Brian Mahany. Read Jane McGinnis v. AHMSI. Prepare for ten years of litigation. Read all consent judgments or settlements active between the USA, OCC, FRS, or SAG's in your opponents' past litigation experience. They have been litigating these cases for years. It is very likely they have already consented to the actions you are charging in your complaint, and very likely that they have already posted Private Civil Penalties with the US Treasury to cover your claims. Do not be intimidated. Note any judicial errors for challenge at appellate level, or SCOTUS level.. Do not argue your case in pretrial motions. Argue your case in front of a jury. Argue your own story. Let Massachusetts solve their own problems. Let Congress deliberate. Let other people vote however they want. Crucify your opponent(s). Do not become personally involved. You will be alive 150 years from today. All of your opponents will be out of business, in a 3-5 year business cycle. You will be collecting your judgment from 2-5 companies downstream. Let us look at another analogy of how “discharge” operates in
contradistinction to “payment.” Let’s say that you go to a restaurant where you see the one and only Bill Gates arrive with an entourage of people for dinner. At the end of that dinner the waitress presents Mr. Gates with a “bill/check/ticket” for $1,700.00. Mr. Gates adds a $300 tip to round out the debt to $2000.00. He then signs to accept responsibility and hands it back to the waitress as if to put it on “his tab.” He then inadvertently leaves the restaurant without “settling” or “paying” the bill. The next day the restaurant supply truck arrives and after delivering a load of alcoholic beverages presents the man- ager with a bill for, coincidentally, $2,000. The manager informs the beverage supplier that he has misplaced the company checkbook and would like to know if he would accept a signed/accepted dinner bill from Bill Gates’ visit the night before. Knowing that Bill Gates had visited the area the day before and frequents that particular restau- rant, the supplier calls his boss who agrees to accept the bill from Bill Gates once it is endorsed by the restaurant manager. Since the bev- erage company has “faith” that Bill Gates is “good for” his debts the company gladly “discharges” the debt owed to it by the restaurant. Now the debt owed to the beverage company is attached to the bill signed by Bill Gates and the country’s wealthiest man will, perhaps someday, have to settle that debt with the bearer of the original bill/ check/ticket signed by Gates himself. Notice that the debt has not yet been “paid” because Bill Gates still owes it. It has only been dis- charged. Let’s continue to follow this negotiable instrument. It is negotiable because it has not been labeled as NON_NEGOTIABLE by the restaurant and it has been endorsed which makes it available for circulation. The next day the beverage company owes the diesel fuel company $200 for each of ten trucks that were refueled. The bill, once again, is coincidentally, $2,000.00. The owner of the bev- erage company asks the fuel company if their accountant would be willing to allow them to accept the endorsed and accepted dinner check signed by Bill Gates. Upon a faxed inspection of the bill, now, “negotiable instrument,” in circulation, the fuel company agrees to accept the “dinner check” in “discharge” of the beverage company’s debt to the fuel company. Now keep in mind that the debt to the fuel company has not been “paid” but has been “discharged” away from the beverage company and is now the obligation of Bill Gates via the “dinner ticket” that he accepted with his signature. The “dinner check,” as you can now see, is being circulated as currency because of the “good faith and credit” of Bill Gates. It is now a debt based cur- rency that could continue to be circulated indefinitely without ever being settled or redeemed and, Bill Gates, could, in deed, perhaps, never be forced to “pay” his obligation because of its popularity or acceptability of the people for circulation. If Bill Gates continued this practice, he has just created his own currency and would never have to use his own wealth to purchase goods and services and/or dis- charge any debt. The Federal Reserve Note is no different than Bill Gates bill. The Federal Reserve Note is often referred to as a dollar “bill” or a five dollar “bill” or a one hundred dollar “bill.” Bill Gates “promise-to-pay”, or Note, in this example, is a two-thousand-dollar “bill.” - Wealth of the Wicked, Steven Johnson Now let us consider America's Wholesale Lender, an ORIGINATOR. You, FRED, desire to live your days out at 933 Paradise Avenue, and the builder or proprietor, or ORIGINATOR, desires to go to Tahiti and do whatever they do in Tahiti. He wants some money, and he wants a little cash flow that we can draw on and have Amazon bring him stuff he needs in the future, he knows not what. You both strike a bargain. You promise to buy him transport to his island, and keep sending him stuff from the mainland for up to twenty years, or prepay him off a maximum amount earlier if you become wealthy. You are wondering how the ORIGINATOR is going to buy an airline ticket to Tahiti for $17.23, and how he will be able to manage living in the expansive style to which he has become accustomed, for $1.45 per month. Maybe things are cheap in Tahiti. I Really Don't Care. Do U? In polite society, the subject of death is not discussed. But... The ORIGINATOR has a plan. He has 14,832 people like you. That gives him $255,572.59 for his travel, and $21,507.85 per month for Amazon to bring him anything he needs from the mainland. It is actually very SWEET. But... The ORIGINATOR is plagued by doubt. What if you die? What if you join the Rastafarians and stop sending money? He decides to take a HAIRCUT, and give all of his RESIDENTIAL MORTGAGE BACKED SECURITIES to the FEDERAL RESERVE BANK OF THE UNITED STATES. They laugh, and reply 'FRED promised you money? Is that the FRED I know? The coal miner in Odwalla? Next year we'll have windmills everywhere! Good luck with FRED!' The ORIGINATOR is distraught. He meets up with Bear and Stearns at the saloon that night. The next morning all his troubles are gone, he has a new haircut, and $100,000. With a little belt tightening, he can borrow another $400,000, cut a deal on that Oceanis 541, and get to Tahiti by November. He is willing to do whatever they do in Tahiti, after. But... The Oceanis, TUMBLING DOLLAR, get squished in the locks at Panama. Nobody even notices. A little smoke on the water. Bear and Stearns fall on hard times, clean out the safe, and flee to Tahiti. Select Portfolio Servicing cleans out Bear's office, and senses opportunity. They call FRED...and LARRY...and SUSAN...and ORESTES...and DEBBI...and some dude in Oregon... Who the Hell Are You?
America is a Great Place. The Three Great Things about America are Life, Liberty, and Property. Other countries look up at America, up on the hill, shining brightly, and it stirs their souls. They immediately start figuring out how they can get some money from us. The Residential Mortgage Backed Security has become a favorite. Securities are widely traded in the investment world. They are generally thought of as porkbellies, or barrels of oil, or feeder cattle, or shares of Boeing stock. A piece of Boeing stock of course does not give you the keys to a Boeing aircraft of your own. One can buy a million barrels of September oil, and sell it in December, and make a boatload of money. You don't even have to wait for December!. People always need oil. You can get them over a barrel, and make one million times $3.25 or so, and you don't even have to drill it, pump it, transport it, or refine it. That's the nasty part you leave to others. In Ruritania, the King owns all the property. In America, the peasants can own property, and a peasant woman can be King, in her own home. The RMBS, properly structured, enables the peasant woman to buy a home in 2007, and you the investor can make money until 2037, and you don't have to deal with the peasants. They can fix their own refrigerator, or buy a new one if they want one. Securities do have a few risks, from AAAA+ to Cccc-, or worthless, but we don't talk about the worthless ones. They're too scary. A thousand porkbellies are eighty thousand pounds of bacon. Some of the discrete porkbellies are only fifty pounds, but they're offset by the hundred pounders. The processor gives you eighty thousand pounds of bacon. The processor keeps the extra bits, and makes chitlins. A billion dollars of Residential Mortgage Backed Securities, with discrete mortgages of $183,000 each is 5,464 Residences, some bigger, some smaller. If you're an investor, you'd probably like a little overcollateralization, maybe 5-8%, or 400 extra residences. If you're packaging the investment, you're going to need a haircut of 20% or so, say 1,200 more residences. That means you'll need about 8,064 residences to fill the tranches so everyone is comfortable about the risk. That comes out to $1,475,712 for book value, or $475,212 earned at issue day [very conservatively speaking]. Of course, you're dealing with Other People's Money, so do you really care? I'll be Gone, You'll be Gone, it's Somebody Else's Problem. I'm Somebody From Texas. I do not tolerate money-changers in my father's country. A Friend of Mine
A friend of mine got colon cancer earlier this year and had it surgically removed. They apparently got it all out. Maybe a few teensy cells left, but apricot seeds can probably destroy them, through the normal processes of cell health. No problem. I was motivated by the experience of my friend to get my own colon examined, for no particular reason, and my own colon has no problems. I might add a few apricot seeds to my diet, in future. In the Big News, a friend of mine appeared in court yesterday in Orange County, California (the Land Beyond Beyond), attempting to recover lawful possession of her property which was stolen in August of 2016. Her lawyer was apparently unsuccessful, but she can go appeal. I guess her worthy counterparty's lawyer was successful. She lives in a nice garage now, with a patch of astroturf outside. In the little news, 1,643.8356164 people had their homes stolen yesterday. Their names will be little noted, nor long remembered. 1,643.8356164 more people are scheduled for today. I was studying up this morning with one of my neighbors what might be a good strategy to get her own home back from the people who stole it last year over in Williamson County. She lives in her truck now. We came up with a strategy to try out on appeal. Pretty soon is the First Monday in October, and SCOTUS will be back in session, with at least eight, maybe nine Justices, who will be considering the case of a friend of mine in Massachusetts, #17-1307 on the calendar, and the situation of the 600,000 people (the little noted nor long remembered subjects above), who had their homes stolen last year. They will have both a majority and a minority opinion, and some guidance. I'm praying the issue be completely resolved, maybe with a few teensy unresolved issues buried down deep, but certainly responsive to the legal equivalent of apricot seeds, whatever that is. Back when Barack Obama was President, we had a Financial Crisis Investigation Committee Report, and we set up a Mortgage Fraud Task Force, currently funded with $555,000,000 per year. One way or another, they've collected $37,500,000,000 over the years since, but it seems like we still have this economic cancer living among us, and we still have people living in trucks, and garages, and little tent cities at the edge of town, and we still have a Task, and we still need a Force. About five percent of America is being consumed, from the inside out. If allowed to continue, this can't be a healthy economical situation. Leeches were at one time presumed to be quite healthy, but that was a long time ago, we have better doctors now, and my Aunt Susie is 126 years old. I see on PACER that we have today 318,000,000 parties in lawsuits, which means almost everyone in America is a party to some lawsuit. Some people might be a party to more than one, actually. US Bank NA is party to more than 512,000, and I didn't want to pay another ten cents to look at Page 2. Being a lawyer should be a pretty profitable business. There shouldn't be much legal work left, with that many lawyers working on it. Actually, most of the lawyers I talk to are unavailable. Is there Something Going On? Let's Give Them Something to Talk About! copy: DOJ 21 March 2018 FOIA Request for Information Department of Justice [email protected] On 21 March 2018 I ran a two queries on the PACER database to discover all civil cases wherein Specialized Portfolio Servicing acted as a Plaintiff or Defendant (45 cases), and all appellate cases wherein SPS acted as an appellant or appellee (233 cases). I downloaded the attached .pdf files with my query result. I would be interested in receiving .pdf files, in the civil case, of the docket report, the complaint, the reply, the response, and the judgment. For the appellate cases, I would like the appellant brief, the appellee brief, the response, and the majority and minority opinions. I could run these queries individually myself at an estimated cost per page of $0.10 / $3.00 max, or a total of ~$6,950. I am wondering if I could obtain this information at a more reasonable expense, in electronic form, by .pdf file to my e-mail. I would appreciate treating this publicly available data as one query, for the maximum charge of $30. As an accommodation to your employees, if my login id were permitted to access each case, with a ceiling charge of $30 for the entire download, your personnel would do nothing but energize my password rights, and I would work from my terminal here. I have discussed such an option with PACER site and they are unable to make such a decision on their own, and suggested I try through this FOIA route. I could complete my download in a designated 24 hour period. I wonder if we are able to work this out somehow. 0 YES 0 NO These records are requested by: David McCrae 350 Cee Run Bertram, Texas 78605 3WordLocation gushy/declaration/posers [email protected] Upon notification of acceptance, I will pay all reasonable fees for collection and electronic release of all relevant records. Please inform prior to service if reasonable fees are expected to exceed twenty dollars. I would prefer furnishing of records in electronic form, as attachment of <10MB to my gmail account listed above. If files can be grouped, multiple e-mails may be used. For files >10MB, or at the convenience of the agency, I will furnish on request a clean usb stick of appropriate size, or appear in persion wherever required. I intend to use these records and their provenance as court exhibits for litigation in progress. Thank You, Why the Residential Mortgage Backed Security Business Fails in America
References: Risk - Janet Tavakoli Other People's Money - John Kay Bailout Nation - Barry Ritholz The Big Short - Michael Lewis Other People's Houses - Jennifer Taub Chain of Title - David Dayen Too Big To Fail - Andrew Ross Sorkin The Best Way to Rob a Bank is to Own One - William Black Win Your Case - Gerry Spence We the People built America. We came from the King's shitholes. We came from the Queen's shitholes. We came from the Emperor's shitholes. We came from the shitholes of the Grand Pu Bah. We declared ourselves Free Men. We came ashore, and we owned the clothes on our backs. We established Agriculture. We built ships. We laid track. We built bridges over rivers. We tunneled through mountains. We built factories. We fought the War to End All War. Twice. We built America on private property, and equality before the law. We were lean, and we were mean. We bred some Fat Cats. They came up with Residential Mortgage Backed Securities. We are on our knees. You may be struggling with a financial behemoth today. In 2007, 69% of American Homes were owner occupied. In 2017, ten years later, 52% of American Homes are owner occupied. Yes, some of those financial behemoths are gone. Some paid large fines. Eighteen Million Homeowners are gone. Two million homes are in pre-foreclosure litigation. The cards are against you. 98% of these homes will be lost to the owners, seized by the banks, and flipped by your nephew or neice. If you are in this position today, we recommend you gather your belongings, and move to Texas. You'd rather fight? I'm glad to hear that. Go back to the top. Read through our references. Sharpen your wits. You'll need every one. You'll start in Federal District Court, which will cost you $550 to file your complaint, or your cross-complaint if you are already a Defendant). Property is now a federal question, and the parties are diverse. If you prevail in State Court, your counterparties will remove to Federal Court. If you lose in State Court, you will appeal to Federal Court. Start in Federal Court. Demand a jury to hear your complaint. Did I mention that 98% of these conflicts are won by the financial institution? Does that seem sensible that one party in conflict will prevail 98% of the time? Does that seem a little bit corrupt? Your jury doesn't play golf together every week. Your jury doesn't take winter vacations in Cozumel. The one-armed man doesn't meet your jury at the end of the runway and drop off bags of money. Your jury is yours to give away. Every judgment starts out with the sentence 'The two parties, having waived their right to jury trial in this matter, have submitted to the Court...' Don't do it. Start with a review of the facts. Have your opponents been financially damaged in any way? Very probably they have not. Financial professionals are very adept at protecting themselves from financial stress. There are many counterparties, who provide credit enhancements. These are generally detailed on electronically stored information. Inspect payments from all sources. You may remember back in 1983, when you met up with PETE (Person Entitled To Enforce) at your real estate closing. He may not have actually appeared that day, but you were probably given assurances that you were uppermost in his mind. Who is PETE today? Who does PETE work for? Does PETE(2), or PETE(5), or PETE(23) have proper identification? Dollar bills are so hard to counterfeit. There are easier ways to make money. Talk to PETE. Make sure he is the one. [Your opponents may seem defensive, and resistant to your curiosity. Such curiosity may be burdensome, or overbroad, or proprietary, or you may just be some kind of flibbertigibbet. After all, they just want your house, broom cleaned, with keys, and you gone. If communications seem completely broken down, you may have to declare bankruptcy. It's kind of an intermission. You stay home, and the federal trustee sorts out everyone's information. The trustee has abilities you do not. Don't go here without some preparation.] Once all parties are comfortable with the material facts, and possibly have even agreed on a mutual stipulation to save time for the jury, or at least a stipulation of all the unopposed facts, and a query to the jury of the missing ones, you may all direct your inquiries to behavior. Has PETE been timely, honest and forthright in his communications? FIRREA 1989 is a big book, as is RESPA-TILA, Regulation X, FDCPA...don't forget the comments, guidelines and interpretations. Make sure the jury has a good picture of all the issues, and everyone's behavior. Now you are ready for trial. Help the judge pick out a jury. Use the No-Asshole rule, sparingly. When the jury files in, and is sworn, you might join in with your opponent and ask for a brief recess. You might do some final negotiating. You are fixing to lose your house, by due process, which you figgered was 98% gone anyway. You bank is fixing to lose $87,000,000, and costs, every one of which is going to hurt like the dickens, and someone might even get fired...if you figger it out in the hallway, you can always excuse the jury, and go have lunch. I see on Alt News Lizzie from Massachusetts blathering about Donald's first catastrophic hundred days, and how Wall Street is running amok in America. Well, Lizzie, you're at work, you're getting paid, let's do something! Thieves were running amok while Barack was P for eight years, thieves were running amok while George was P, while Billy was P, while Lyndon was P, while Little Johnny was P...actually I liked Ike...America was sure a great place back then, wasn't it?
I had to delve a little bit, but I also found the Black Knight monthly report of distressed homes, what they call opportunities to their readers, and they are reporting 3,500,000 homes currently in distress of some sort, right now today at 10:27:18 CDT. Just think of all the property that could be stolen in the next hour and a half before lunchtime. A company could grow wealthy...er. So, Elizabeth, come down to earth, get off the TV, and let's do some work. We don't have to rescue three and a half million people today. Let's rescue ONE. TODAY. |
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AuthorDave McCrae is a retired engineer now settled in Oatmeal, Texas. I trained as a nuclear physicist and for a brief time was able to hold positions operating a small cyclotron, a large computer (CDC-6400 BITD) and as a medical researcher. After a weekend in Cleveland, and learning to weld, I left academia and joined Clan MacRae, constructing large buildings, setting complex machinery, devising manufacturing processes, and operating deepwater submersibles. I had too much fun, and made too much money. The cyclotron was kind of quaint, punch card computers are pretty much extinct, and we still have issues with cancer. Archives
November 2018
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