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TESTIMONIALS


CEO Shawntell Nash Midwest Advantage Holdings Company

As a contractor, this group has been a major blessing to my company. When I had issues with Field Managers and no where to turn for assistance THIS group gave me insight and solutions. After working with Paul my company was paid by the FM that owed us.

Net Neutrality: The FCC And Anonymous Round One

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The Federal Communications Commission (FCC) is poised to put the screws to a free society and further assist in the Corporate Oligarchy which the Obama Administration is publicly loathe to admit that it privately supports. The Wall Street Journal is reporting that FCC Regulators are cementing their intentions of helping the Fat Cats legally constrict what information moves where based upon how much money someone has.

So, let me get this straight. If I am rich I am able to muscle any Agenda I want in favor of all Agendas?! Um, no. Make no mistake whatsoever that at some point, if the FCC implements this fascist position, I predict Anonymous will stretch their collective arms around the matter rapidly.

Polite fictions are like when you were 15 and told the pimply girl that you loved her to get laid. In the same way, this polite fiction that somehow Net Neutrality is the just and honorable thing to do, is precisely representative of slight of hand. At the end of the day, Pandora’s Box has been opened and there is no closing the lid. Government’s are extremely loathe to allow their populations any freedom. Net Neutrality is an attempt to close the lid on a box that doesn’t even exist anymore. With interconnectedness throughout the utility grids, financial systems, traffic control — it goes on and on — the end result is that isolationism is no longer an option contrary to that which the Obama Administration vis-a-vis the National Security Agency (NSA) would like to believe.

It’s not like the US Federal Appeals Court hasn’t already weighed in and struck down a boat load of FCC Provisions,

“Given that the Commission has chosen to classify broadband providers in a manner that exempts them from treatment as common carriers,” Tatel wrote, “the Communications Act expressly prohibits the Commission from nonetheless regulating them as such.”

So, Round One of the FCC vs Anonymous should prove to be very interesting, indeed! My money and political support lays upon Anonymous!

Pit Bull

NAMFS Issues Rebuttal To FHFA

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The National Association of Mortgage Field Services (NAMFS) Regime issued their Rebuttal to the Federal Housing Finance Agency (FHFA) several days ago.  Before I lay into #TeamRegime, I will give the Regime some credit; I will give Eric Miller some credit, at least Miller and the Regime did some work for the OVER ONE HUNDRED THOUSAND DOLLARS A YEAR SALARY WHICH NOW CONSUMES WELL OVER SEVENTY PERCENT OF ALL REGIME MEMBER DUES.

Before addressing the pithy comments the NAMFS Regime churned out sans an author’s name, I wanted to talk a bit about display and grammar. You know, when a Regime whose Membership is under fire for fraud and corruption has typos in the first five paragraphs, you know there is a problem in Rome. The fifth paragraph, last sentence has a runon of “resultsas.” Even more on point, the non justification of the paragraphs themselves presents an extremely unpleasant reading experience.

Now, I am not the grammar nazi. What I am pointing out here is that when you are allegedly speaking for a Multi Billion Dollar Industry one might think you would take the time to proofread. Let’s not bullshit around, when the FHFA Office of the Inspector General (FHFA OIG) is pointing out that there are serious issues within the pre foreclosure inspection process, it really does not bode well when the Trade Association; the NAMFS Regime, is stepping upon its proverbial dick like a freshman at prom groping along in the dark.

As we reported upon in the racial disparity lawsuit pending against Safeguard Properties,  the National Fair Housing Alliance (NFHA) used a miniscule sampling ratio and has been successful at bat multiple times. Miller’s (I say Miller as I am loathe to think that a professional drafted this piss poor attempt to challenge the FHFA OIG) presentation is actually a disservice to the Industry. Hell, even Klein has enough common sense to weather the storm.

The reason the NAMFS Regime did not perform their own sampling; the TRUE REASON that the NAMFS Regime did not commission an independent, third party study, is that they knew they could not bury the true scope of atrocities currently being perpetrated against homeowners. If you open a can of worms, you are still responsible for the presentation of the negative.

Salon had a similar article entitled Massive new fraud coverup: How banks are pillaging homes — while the government watches which came out yesterday. While pertaining to the Financial Institutions out raping and pillaging, the importance of this is that the Drive By Media are beginning to take notice of the fact that the pre and post conveyance process within the Mortgage Field Services Industry are inherently fucked up. At some point in time, a lame duck Congressperson is going step to the soap box and realize this Industry is ripe for taking pop shots at for votes. And make no mistake whatsoever, with drunk Captain Ahab’s like Miller manning the helm, we are in for a true Greek Tragedy on Steroids!

You cannot have the fox watching the henhouse. Dovetailing into my huge series upcoming on the conflict of interest of real estate brokers involved in both the preservation side of the industry and the actual selling of the properties, the conclusion is that the Consumer Financial Protection Bureau (CFPB) is going to enter the fray rapidly.

Brian Drain: When Threats Of Murder Don’t Work Muddy The Waters

I am in receipt of an email wherein Brain Drain has clarified his position vis-a-vis a Server Log Screenshot sent to me yesterday evening. The allegations of DDoSing were not the impetus being conveyed apparently. Normally, when things are not crystal clear, I like to call people and clarify. In Drain’s case it is impossible as all calls go unanswered. Regardless, when I submit an Opinion which is incorrect, I like to correct it. I have no legal responsibility to do such as an Opinion is precisely that; I do have a MORAL RESPONSIBILITY to do such, though.

So, Brian Drain, I humbly apologize to you for misinterpreting your submission of the server logs. I was of the opinion that it was an implication that I was involved in a DDoS attack. The why or why not I thought such is immaterial as this is about an apology to you.

I will draft a proper Article on this later. There is a difference between a Correction and an Apology. An Apology deserves proper articulation and it will receive such later this evening.

AMS Employees Worried About Their Future Prospects

A current Asset Management Specialists (AMS) employee reached out yesterday with respect to a Series of Articles I have written highlighting the fraud and corruption at AMS. AMS is yet another National Association of Mortgage Field Services (NAMFS) #TeamRegime Member which the US Department of Housing and Urban Development (HUD) seems to be supportive of. I say supportive as HUD is recalcitrant to reveal whether or not they are continuing to allow AMS to have an unfair and economic advantage over other HUD Prime Vendors as each and every signatory to the HUD Marketing and Management (M&M) Contracts are no longer present at AMS. Nothing new under the Sun with respect to the corruption within HUD; business as usual.

I have worked in the Closing Department at AMS since December 2011. Over the past three or four months I have read your blog about the corrupt issues that have happened between the contractor’s being paid, altering work order’s, etc.  But, there is one thing, I believe you should know.  Not every person the works at AMS deals with the contractor’s and paying the contractor’s.  There is a WHOLE other department called HUD Closing- were we deal with closing issues (out-standing lien-able utility bills, HOA’s or abatement issues).  These issues need to be cleared, in order for the property to close.  My department had NO idea these things were going on in the Auditing Department, until your blogs surfaced.

I believe is is an extremely unfair stereotype that you wrote in your blog below.  It was/is not public knowledge that invoices were being altered and contractor’s were not being paid.  It is unfair to say we all need to be watched and are considered suspect of being liars and crooks.  Your blog could cause hard working individuals to not obtain employment elsewhere. Including myself, a single mother with a seven month old.  Before writing such slandering remarks, to hurt Lee, Brian, Jerry’s reputation, please think of the other’s who rely on this job and future employment to pay the bills and keep a roof over their families head.

Yeah, right. So, let me get this straight. You are attempting to suck up to Lee [Mertins], Brian [Christie] and Jerry [Mavellia] in hopes that they really give two shits about a single mother with a 7 month old child?! Let’s keep this real for a moment, shall we?! First off, Brian Christie has already been directly implicated in the harassment of a rape victim. Are you supportive of that? Oh, that’s right. It would appear that there is NO CONCERN for the rape victim provided you and yours get paid, huh?! I mean whom cares about dumping toxic chemicals down the drain in California where there is a Drought of Biblical Proportions?! Mertins and Mavellia are already gone so why the big concern? Why no concern for the Puppet Master Greg Harrison?!

If, in fact, former AMS employees become discriminated against, there are legal avenues to address it — I doubt this is the concern, though. The reality is that for years the impetus for protecting one’s self has been placed squarely upon the shoulders of Contractors. It is good that employees of these firms whom wish to break society’s rules are placed squarely in the cross hairs. Perhaps they will begin to think twice about turning a blind eye to the insidious behavior exhibited by these NAMFS Regime Members.

The exculpation of employees based upon their sucking up to Lee Mertins, et al., gets no play with me. Even more on point, spare me the pity party and use of tort terms like slander. Had that term not been used; had the conversation been directed around the alleged concern of the employees, I would have taken a different position. This is a Red Herring. Mertins and Mavellia are both over at 24 Asset Management cum Assero 24. Curious how 24 Asset Management feels about the law? Here is what a consumer had to say,

This company contacted my bosses HOME phone number and WIFE regarding an outstanding personal debt of mine. In no way should this information have been discussed with an outside individual. That is definitely an invasion of privacy. They are rude and harass me at work, after being told not to call the business number. If they continue to jeapordize my employment, they will never get any resolution.

When these alleged employees reach out worried about the Power Brokers, I begin to realize that they are only concerned with their own skin. The concern is fostered from a belief that they are not going to be recruited to work at the next NAMFS Regime Order Mill Spin Off. I stand by my recommendations that any former employee of any NAMFS Regime Member whom has refused to pay Contractors should be suspect; they should be suspect until they are vetted properly.

Ocwen: The Cuomo – Lawsky Shakedown

The superintendent of New York State’s Department of Financial Services (NYDFS), Benjamin Lawsky, must be feeling left out of the party currently going on over in the Big Apple. I mean the en vogue trend seems to be sock it to anyone making more than minimum wage vis-a-vis Bill de Blasio’s Regime. Ironic, really, when the State of New York is driving out the very same people whom are paying for the free ride. Take a listen to some of the Power Brokers on Talk Radio. It would appear that an Exodus — LONG OVERDUE — may be in the cards! I digress, though. We are going to talk about the Ocwen, Hubzu and Altisource Trifecta currently under siege by an out-of-control Fascist Regime.

American Banker, HousingWire and National Mortgage News which had generally always been stalwart backers of Capitalism must have been slipped some of the Kool Aid being passed out in New York. Hell, even the Wall Street Journal must have gotten a good dose as they all seem to have formulated what I consider to be unwise positions — unwise as it is difficult to extricate oneself from error. Even more on point, the Drive By Media’s Maginot Lines are dangerous in a High Frequency World.

The jest of Lawsky’s claims are that Ocwen Financial Corporation is unfairly utilizing Hubzu, an Altisource Portfolio Solutions SA subsidiary, to ramp up the costs of mortgages for investors and borrowers. More specifically, though, Lawsky has a hard on for Ocwen Executive Chairman William Erbey. Erbey also serves as Chairman of Altisource and owns pieces of  both Ocwen and Altisource. The result of this insanity? That’s right Lawsky has shuttered, Capitalism for the time being, in New York.

Hubzu appears to be charging auction fees on Ocwen-serviced properties that are up to three times the fees charged to non-Ocwen customers,” Mr. Lawsky wrote in the letter. The higher fees “ultimately get passed on to the investors and struggling borrowers who are typically trying to mitigate their losses and are not not involved in the selection of Hubzu as the host site.” — From the Wall Street Journal about six hours ago.

Really, what Lawsky is driving at, are unsubstantiated concerns over the fact that someone other than the VERY SAME BANKS which spun up the Sub Prime Crisis might actually be better suited to handle mortgage servicing. Nothing but a wild goose chase; a pedestrian fishing expedition.  I mean this is a rerun of the Nationstar issue back in March,

In a letter to Nationstar on Wednesday [05MAR14], the regulator, Benjamin M. Lawsky, superintendent of financial services, said his office had received “hundreds of complaints from New York consumers” about problems related to the company’s mortgage modifications, improper fees and lost paperwork.

“Our department has significant concerns that the explosive growth at Nationstar and other nonbank mortgage servicers may create capacity issues that put homeowners at risk,” Mr. Lawsky said in the letter.

Starting to sound like a broken record? Significant concerns, huh?! One would think that perhaps Lawsky’s significant concerns are that he is not getting enough Social Media exposure. A quick perusal of Lawsky’s Twitter Page shows what would be Significant Concerns if placed in front of a Quantico Profiler. — Note to self: Determine whether or not the Twitter, Instagram, ad nauseum postings, during business hours, are on the taxpayer’s dime. To say that Lawsky is awkward; to say that couth is not his best suit, is to put it mildly. In 2012, Lawsky seemed poised to reignite the Revolutionary War with the dust up over his ill suited comments about Standard Chartered.  Across the Pond, the British did not seem too enamored with Lawsky’s stick in the eye which would appear to be calculated to put him on the radar,

Boris Johnson, the mayor of London, also warned that regulation in New York should not become “a self-interested attack on London’s status as the pre-eminent financial centre.”

Here is the reality: New York Governor Andrew Cuomo co-wrote the playbook with Lawsky in the first 13 months Cuomo held the New York Attorney General’s office. In essence, what we are seeing is nothing more glamorous than a mob style shakedown. Lest one think I am spouting off, let’s take a look at the Standard Chartered settlement: $670 Million alone. Not too shabby. When you look, though, at the fact that out of the $250 Billion dollars alleged, only $14 Million were theoretically up for contention; when you really drill down and find that only 0.001% of that amount of the $250 Billion was questionable, does the penalty really fit the alleged violation?! I mean you get it right 99.99% of the time, but that pesky one one thousandth of a percent of the time does you in with Lawsky, huh?!

This certainly wasn’t the first nor will it be the last Shakedown Lawsky and Company are going to undertake. These type of people always want to relive the rush. The reality is that how the Market works is that the Regulatory Muggings are going to continue to crank up. New York is the epicenter for the majority of financial transactions. To play ball in New York, the Regulators hold hostage Banking and Insurance Licenses until they get their proverbial cut. How big is that cut? Well, conservative estimates are that around $7.1 Trillion dollars worth of assets are under the DFS umbrella. Read: This is Shakedown 101 on Steroids.

Section 1047 of the Dodd – Frank Act was problematic for Cuomo. The visitorial powers just didn’t jive with his belief system. You see, good ‘ol Cuomo is at odds with the presumed legal caretaker of such the New York Attorney General Eric T. Schneiderman. Never fear, though. Like any good Emperor, Cuomo enacted Decrees from Upon High. The usurpation; the prima facie power grab by and through the creation of the New York Department of Financial Services (NYDFS), is a testament for the contempt that Cuomo and his lapdog Lawsky have for both the Constitution of the State of New York and the US Constitution.

The reality is that the Cuomo – Lawsky Shakedown Machine has been fine tuned over the years; no separating the two. Lawsky was the special assistant to NY Attorney General Andrew Cuomo. He then became the General Counsel for Cuomo’s Gubernatorial Campaign. He additionally got his political wings as the Chief Counsel for New York Senator Charles Schumer in 1999 through 2001.

Let’s get down to some brass tacks, though. A lot of the media pundits out there seem to have some difficulties finding hard numbers. Foreclosurepedia didn’t have that problem. An Altisource – Hubzu Source, speaking on condition of anonymity, spoke fairly candidly.

Lawsky is definitely out trying to grind an axe – and not sure why.  The letter is a complete and total lie.  Hubzu charges 3.5%-4.5% for all sellers on Hubzu. Auction.com charges 5% – Williams & Williams – 5% – JP King 10% …. We charge less than anyone – and we have sold more assets that the other auction companies ([Redacted] in 2 years).

So, I am puzzled. If the Lawsky Shakedown Machine has a fatal flaw; if in fact Lawsky’s Demand Letter to Ocwen isn’t worth the paper it is written upon, why all of the Paper Tiger action? One Word: Leverage. As early as 2011, Ocwen agreed to Lawsky’s first set of Draconian Mandates when they committed to the DFS’ Mortgage Servicing Practices. In December, 2012, Lawsky needed yet another fix in the jugular so he visited a Decree upon Ocwen for a Monitor. Beginning to realize that Erbey wasn’t exactly the type of person to lay down and lick boots, the coup de grâce came in Lawsky’s most recent intervention in the Ocwen – Wells Fargo Affair. Or, so Lawsky thought. My Source continued,

 I think the bigger picture is he is trying for more money out of the settlement and Ocwen has said ‘NO’.  And now he is attacking them.  At least that’s my best guess / opinion.   And Ocwen is an easy target because they are a non-bank servicer than made money through the financial crash and they use a lot of overseas labor.  Pretty easy target….  But, no investors or banks are complaining about Ocwen’s use of Altisource or Hubzu….. they see the value and enjoy the interrelated business relationships which save them money.  In fact, banks are still trying to sell their servicing rights to Ocwen but Lawsky has essentially frozen the market.  Government is interfering and trying to tell a corporation how best to run their business.

The reality is that the Ocwen – Altisource – Hubzu Trifecta is a natural extension of wise business practices. It is the controlling of the supply chain for want of better words. Let’s take a can of soda, for example. So, the Grape Soda Company has a great product. They realize that there is a good deal on an aluminum can manufacturer and they buy it. They buy it because the long term benefits of owning the production facility outweigh the long term expenditures in purchasing them. Then, they buy a trucking firm to be able to control the logistics to and from their facilities and  to expedite their product. They realize that the advertising firm whom is marketing the Grape Soda are hacks, so they build, train and staff their own firm. You get the point. How about Google? Or Facebook? You really get the point now.

Lawsky is the quintessential ambulance chaser. Like any good shark — I mean lawyer — Lawsky knows that Settlement is the Name of the Game. When you begin to track the amount of Settlements the New York Department of Financial Services (NYDFS) has extorted, it begins to sound like Professional Economic Hitmen.

The moral of the story is Lawsky is going to have an uphill battle with Erbey. That’s good; it is good when megalomaniacs like Lawksy are taken down a notch. Oh, I am sure that Lawsky will get his Tribute; render unto the Economic Hitmen that which is theirs, but it will come at a price. Whereas, the Pound of Flesh — or Pile of Lucre — is All the Rave in New York, Financial Institutions have a VERY LONG MEMORY. I do not opine upon whether or not the non traditional servicers are making too much money; I am simply setting the record straight in that Bullies always get what’s coming to them. Cuomo is not going to be Governor forever. Everyone has skeletons in their closet. The question that is most fitting is whether or not now is the time to begin to get Front Row Seats for this Match.