Tag: HOEPA

I have been asked some interesting questions in my series A Diary A Day. Like is it possible a single home mortgage is represented in multiple bundles, or has trigger multiple insurance payments.

Let explore the possibilities below the fold.  

I tried this diary on Tuesday and pissed a lot of people off, not my intention.  I am trying again because this is really important and I promise to take the time and choose my words carefully. There are a lot of reasons Obama organized us and showed us how to demand better of all government, in the very near future we are going to need everything we know and everything we can learn.

Since 2004 7 MILLION homes have been lost to foreclosure. There are about 3 million more homes under the protection of Chapter 13, homes the lenders are trying to chip out and take. There are more than 5 million sub prime loans in or on the verge of foreclosure right now. 1 in 8 homes has either been lost or is in jeopardy of being lost and we are not at the bottom yet. Not since the Great Depression has the average American suffered the wrenching loss of home and job and future. It is not only a significant turn over of wealth but will also bring significant changes to the American landscape. Depending on how deep the turn over it will change American cities and towns for all time and with those changes the quality of life for all of us.

And so it starts the slumming of America, more below the fold.  

Yesterday I diaried about my understanding of how the meltdown happened, here. But there is part of the diary worthy of a diary on it’s own. The very important part played by Wall Street’s three biggest arbiters of credit. We will look at their part combined with how these instruments were allowed to be traded that may be the largest fraud ever perpetrated against the American people. We will discuss the illegal actions that can and MUST be pursued below the fold.

In researching my Sunday diary I ran across some interesting facts and figures I thought I would share with you. Grab a pencil and paper, your pocket calculator and pop some pop corn because this is going to be entertaining in a sick and disgusting sort of way. Follow me below the fold for a trip to the house of cards where our dreams live, located at the intersection of greed and larceny with a little betrayal along for the ride.

Well, well, well it seems Ben Bernanke is at it again, joined by ex-treasury guy from Goldman Sachs, Andrew Tilton. You might have already guessed they are finding ways to take OUR money. Their remarks are in this article from Bloomberg. We will discuss below the fold.

Much to everyone’s surprise housing starts were up in February. Unfotunately the increase was for multi-family dwellings no doubt preparing to house all those on the street from foreclosures. The largest increases were in the Northeast, South and Midwest. Oddly California hard hit by foreclosures has a good backlog of housing available. And so it starts the slumming of America, more below the fold.  

Up front disclaimer, I am suing WaMu and their successor, JPMorgan. You can read the saga here and here. While my battle with them doesn’t change the facts here, it does serve to explain my rage. On second thought when I exhort us all to take a page on retribution from Conan the Barbarian  … “crush my enemies, drive them before me and hear the lamentations of the women,” rage doesn’t quiet cover it. Here is the latest installment about Jamie Dimond thief in chief at JPMorgan, you will find the comments there from people who are made as hell. Follow me below the fold for a mere snack, a snippet, a snapshot of what the banks and Wall Street and their sycophants have been up to, because I want you mad as hell too.

Up front disclaimer, I am suing WaMu and their successor, JPMorgan. You can read the saga here and here. While my battle with them doesn’t change the facts here, it does serve to explain my rage.

“When I hear the constant vilification of corporate America, I personally don’t understand it,” Dimon said in his speech. “I would ask a lot of our folks in government to stop doing it because I think it’s hurting our country.”

Hey Jamie, hear that faint music in the background? It’s the worlds smallest violin. By the time this is over you will be lucky if an angry mob hasn’t come to get your greedy larcenous butt. Trust me Jamie, I want the last payment you get from US, the tax payers you swindled to be a life time vacation, all expenses paid in Sing Sing or Leavenworth. Follow me below the fold for the reality of of Mr. Dimond’s world whether he is willing to acknowledge it or not.