Foreclosing In The Wrong Name? No Problemo! in [Market-Ticker]

Posted 2012-04-24 16:26
by Karl Denninger
in Foreclosuregate

Foreclosing In The Wrong Name? No Problemo!

Oh c'mon.... the conversation didn't really go something like this, did it?

"Uh, we're foreclosing in the wrong name."

"Oh. That could be bad. Well, let's file a correct document then."

"Uh, if we do that the homeowner's association might come after us -- it will change how much we have to pay them."

"Oh we don't want to do that."

"I know, I know! We'll just quitclaim it after the fraudclosure foreclosure is complete!"

Left unsaid of course is that if you're foreclosing in the "wrong name" and you know you're doing it then you're intentionally misleading the court.

What do we call that again?

Business as usual, when it's our outrageously corrupt legal system, right?

Link here: http://4closurefraud.org/2012/04/24/lender-processing-services-lps-internal-email-accidentally-leaked-in-a-fraudclosure-case/

Update 4/25: It gets better -- now the law firm is trying to have the document removed from the record! How do you spell "oops"?

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User Info	Foreclosing In The Wrong Name? No Problemo! in forum [Market-Ticker]
Vitaeus Posts: 54 Incept: 2010-10-05	Saw this on the link as well, she seems to have a good idea, start at the functionary level and build a better corporate culture. http://4closurefraud.org/2012/04/12/fore.... 2012-04-24 16:47:56 Permalink
Asimov Posts: 104642 Incept: 2007-08-26 East Tennessee Eastern Time Online	And how surprised am I? Not even a smidge. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-04-24 16:48:22 Permalink
Winesorbet Posts: 18 Incept: 2010-08-23	<sarcasm>Yes but Apple just blew out their earnings so who really cares?</sarcasm> 2012-04-24 16:51:32 Permalink
Lms Posts: 201 Incept: 2008-09-30 Punching Bernanke in the face	I am shocked!! Shocked, I tell you. There is an ancient legal principle based on the Latin phrase: "Nemo dat quod non habet." Loosely translated, it means "You cannot give what you don't have." The point being, if the wrong entity foreclosed (e.g., an entity without a valid security interest in the property), the quit claim deed executed after the sale also has no effect. Those emails, and their focus on doing whatever was cheapest irrespective of the law, remind me of a Sopranos episode that I saw years ago. Tony and his crew were running a scam where they bought up old, broken-down houses and sold them at a huge mark-up to a middle man who was in on the scam. The buyer financed the purchase with government-backed HUD loans. Of course the houses never got fixed up and the loans were defaulted. Tony was talking to a dirty politician that was in on the scam. Tony wanted to strip the houses for copper wire. The politician thought that was an unnecessary risk that might draw attention to the HUD scam. He said Tony was missing the big picture. Tony's response, or words to that effect: "The big picture is maximizing profit! You want it to come out of your end?" That line has always stuck in my mind for some reason. I suppose I don't need to elaborate futher on the obvious parallels between Wall Street and the mafia. 2012-04-24 17:41:32 Permalink
Limberlumber Posts: 178 Incept: 2007-09-05 North Compton, CA	Can someone tell me why LPS stock isn't trading in the single digits by now? ---------- "Economic Progress one Funeral at a Time". - Steve Keen 2012-04-24 19:31:43 From PDA Permalink
Salt Posts: 193 Incept: 2010-05-28 NC	... you're intentionally misleading the court. What do we call that again? Business as usual, when it's our outrageously corrupt legal system, right? It's not intentionally misleading where one intentionally knows one is intentionally being led. 2012-04-24 19:48:17 Permalink
Soontobeexpat Posts: 19 Incept: 2012-04-04 Nevada USA	Federal courts (and in some cases, state courts) are on the side of the Banksters. Nothing to see here... move on. 2012-04-24 20:43:54 Permalink
Donethat Posts: 782 Incept: 2009-04-22	Check out the comment by Imanda Waldon at the link in the post http://4closurefraud.org/2012/04/24/lend.... Someone at LPS sent them to a scamster Florida attorney????? Last modified: 2012-04-25 00:14:45 by donethat Reason: spelling error 2012-04-25 00:06:41 Permalink