jyllyj

Last active
2 years, 9 months ago
  • Yes, this is more back door bailouts for our zombie banks. I am not surprised. We all know the settlement was a sham and now I just look for how the screwing of borrowers is evolving. The only ‘hope’ I had was that Obama wanted to get people like me back on his good side just ahead of the election. Sixty nine days to go and this is what we get….. Mr. President, this will be a lasting stain on your legacy as president. The suicides, murder suicides, divorces, family separations, homelessness, the economic damages to individuals, the mental and emotional pain caused by fraudclosure ON YOUR WATCH will be a hallmark of disgrace that will follow you for the rest of American history for centuries to come. This could have been your last chance to rectify your massive blindside to the failing economy. You will be remembered as a failure forever.

  • jyllyj commented on the blog post Ex-CBO Staffer’s Warnings About Foreclosures Ignored

    2012-03-17 05:17:21View | Delete

    The vultures are alive and well. I noticed well over a year ago. First, my county ‘lis pendens’ registry had weird named LLC’s popping up and almost in equal numbers to big bank names.(I live in New Jersey, we had an open secret moratorium on f/c with the fraudulent forged documents). Then I noticed people like Bruce Rose (MBS bond Grand Daddy) in a lawsuit with Wilbur Ross (Great Grand Daddy of ‘value’ investing) these two vultures were in a (I have not seen any update on the lawsuit) grand royale lawsuit that really shows the new nadir in bond contracts at its finest. Rose managed (allegedly) to control enough junior sub debt to seniors and had a morgtage servicing company to artificially manipulate threshold bond covenants so his junior holdings would get paid out ahead of the senior debt. Really a masterpiece of bottom feeder behavior. I think if all the alleged behavior is true, Rose could easily win the rat race to the bottom of investing ethics and should be crowned publicly for his endeavors. endeavors.

  • jyllyj commented on the blog post Ex-CBO Staffer’s Warnings About Foreclosures Ignored

    2012-03-17 04:46:08View | Delete

    The vultures are alive and well. I noticed well over a year ago. First, my county ‘lis pendens’ registry had weird named LLC’s popping up and almost in equal numbers to big bank names.(I live in New Jersey, we had an open secret moratorium on f/c with the fraudulent forged documents). Then I noticed people like Bruce Rose (MBS bond Grand Daddy) in a lawsuit with Wilbur Ross (Great Grand Daddy of ‘value’ investing) these two vultures were in a (I have not seen any update on the lawsuit) grand royale lawsuit that really shows the new nadir in bond contracts at its finest. Rose managed (allegedly) to control enough junior sub debt to seniors and had a morgtage servicing company to artificially manipulate threshold bond covenants so his junior holdings would get paid out ahead of the senior debt. Really a masterpiece of bottom feeder behavior. I think if all the alleged behavior is true, Rose could easily win the rat race to the bottom of investing ethics and should be crowned publicly for his endeavors. en.

  • This settlement, if filed ever, will make fraud as a business model officially sanctioned. There has only been rewards to banks for any crime they do. We are talking about taking homes, real property by any means necessary under the color of law. Seven million foreclosures in five years and no jail, no restituion, no real change. On the plus side to the systemically dangerous instituions (SDI) they borrow at near zero rates, manipulate accounting to their benefit, dump assets at the NY Fed, buy the same dumped assets back on the cheap, issue billions of FDIC backed bonds at low interest rates, gorge themselves on record bonuses year after year claiming record profitability! There is no downside for them. Bet the house and lose? Belly up to the Fed and try again. Bet and win? Pay nothing back and avoid tax consequences as you please. Its not sustainable. I can only imagine what rationale Holder is using in his mind to acquiece to the banks. What is he getting in place of his huevos? Political survival? It seems to me he sold it way too cheap.

    If I was a SDI exe

  • The HAMP program in my book is a HUMP program. HUMP you right out of your home and into financial shreds. All of these programs are designed to give the appearence of doing something to “help” Main Street. It really is a way to let the banks continue to get financially healthy at the direct cost of individuals. I have been harmed by the four modifications. The whole time they delayed making a permenant HUMP mod Citigroup larded on big fat illegal fees, foreclosure costs, forced placed insurance costs. This allowed for a perment mod offer that increased my principal balance that guaranteed I would not keep the loan performing. Anyone looking for help better stay on their toes. In fact, I have yet to meet one person that has a performing permanent modification. I have been fighting for over four years, and yeah, I’m still here. Treasury, OCC, SEC, FHFA, HUD, Ginnie, Fannie and Freddie are all perverted beyond all recognition. Get the bad guys, throw them in jail. Stop designing the same programs over and over again and expecting a different result. And for starters, FIRE DE MARCO immediately!

  • Dylan and Bill, Do either of you have any insight as to litigation that is directed at collateral managers, like the SEC’s lawsuit against Brian Stoker? Do you think that the current trend of settling without admitting/denying guilt and paying a financially meaningless fine will be the continuing trend? I am particularly interested in collateral managers that I find re surfacing at private equity firms managing the same properties that went into foreclosure (commercial property and resi). It seems that the same collateral managers are able to profit on the rise and fall of the credit market bubble and have no consequences. Do you see any way to slow that down?

  • Ms. Warren, Good luck to your future endeavors. You are a class act. As is Ms.Bair. I’m sorry to see you both leave your posts. You both have been the moral compass through out the crisis. When the next tidal wave hits I pray we have leaders that can shoulder the mantle you both have so capably. God speed, Jylly

  • jyllyj commented on the blog post Warren Ruled Out as Consumer Agency Head

    2011-07-17 05:42:16View | Delete

    That’s it. Mr. President, you officially lost my vote. You can take that hope-y change-y thing and put it where the sun does not shine. Elizabeth Warren is the only regulator I have seen in my life time that is in touch with reality. I don’t mean just academic or political realities, I mean realty like the way the majority of Americans see reality. Her treatment by Gowdy during her last appearance on the Hill was entirely inappropriate. Someone take Gowdy over their knee and bitch slap his little boy buttocks.
    President Obama, I am deeply disappointed in your presidency. I am almost sorry I voted for you in the first election. I presumed wrongly that after Wall Street got it’s bailout you would see to it that Main Stret got their pittance of help to keep families in their homes. You have failed 2 million homes so far. 11 million homes are in some part of default or foreclosure. At this rate your bid for re election will fail. I’ll vote for anyone but you because you have let Wall Street further enrich themselves post bailout by willfully neglecting the families that needed you the most post housing bubble. It is on your watch that you have let the unholy marriage of Wall St and the Beltway consumate their alliance. If you are destined to be a one term president then do whatever you can so that no other family is torn asunder because of foreclosure fraud.

  • jyllyj commented on the blog post Obama Takes Housing Questions at Twitter Townhall

    2011-07-06 14:01:24View | Delete

    I asked a question about why Fannie Mae is giving further incentives to bank servicers to SPEED UP foreclosures going forward (Memo from June 6th 2011 Fannie Mae’s website). The banks are breaking the laws. They go unpunished, unrepentant. Paying them higher fees to foreclose within specified time lines seems like rewarding failed HAMP program participants. The time lines and tax payer dollars encourage even more outrageous fraudulent behavior and continue to embolden their confidence in doing so. Seven million people have been foreclosed on in the last 5 years. Mostly based on fraudulent documentation relied upon by judges and sheriff departments nationally to remove people from their homes. Fannie — a failed GSE, giving incentives to speed up an already fraudulent process. Hmmm….What is it called when you do the same thing over and over and expect different results? Oh that’s right, insanity. Is this the only way to clear the housing shadow supply, get the economy moving and get re elected in 2012? I think it is a mis informed strategy that will bring unintended consequences and continued collateral damage (ie families devastated by foreclosure fraud). This Twitter Town Hall comes on a day when it has been revealed that Goldman Sachs had a secret $15 billion dollar loan and the big six banks are “close” to a settlement with the AG investigation. Twenty billion is being bandied about….It does not come close to de leveraging a 14 trillion dollar housing market. Not even a deck chair off the Queen Mary. QE3 in the offing…probably behind the scenes. The Twitter Hall was innovative…but not enough. Kudos for innovation, “Meh” for impact. A lot of whitewashing still the norm. Disappointed in Obama responses to housing foreclosure fraud.

  • I think there would be more support from the general public if there was AGGRESSIVE CRIMINAL PROSECUTION of the banks responsible for foreclosure fraud. I believe the administration knows that there will be a QE3 down the road, and having to get that through will be difficult at best. HAMP 2 I think will be useless at this point if the banks continue to be allowed to pretend to be doing something all the while throwing families out of their homes, ensuring financial ruin of an entire generation and dragging out the recession. I did get a permanent modification on April 1 2011 (after a relentless two year battle). Not only did the bank engage in forced placement insurance FRAUD, but tacked on almost $50,000 in principal and junk fees. I immediately asked in writing to have them account for the trial mod payments (over a years worth) and where they came up with an additional $50K in principal. They ignored me. They continue to foreclose on me for a third time. Why would I trust HAMP 2? Now I am choosing to fight them in court.I cannot imagine giving my loan servicer another penny until they can 1. Show me they have the right to collect payments/foreclose. 2. Tell me where all those trial mod payments went. I am not a lawyer, but until there is meaningful negotiations/transparency with banks I cannot see participating in HAMP 1 or 2. In fact, I kick myself for putting myself through THREE TRIAL mods, PAYING MORE THAN MY ORIGINAL MORTGAGE and wasting the money on a loan that my servicer had no intention on making it a legitimate, performing loan. It has ruined my credit score, it has ravaged my physical health, it has impacted my mental health, it has been corrosive to my family and friends that have watched me wrestle with institutionalized fraud for three years The actions of the servicer has negatively impacted my career and business relationships. Now I see a yet another 3 year battle (minimum) to take my servicer to court and get justice since the Administration has failed to stabilize housing. In fact I think the case could be made that the HAMP program could not be more effective in helping banks line their pockets with more tax payer dollars via the HAMP guidelines. There is no accounting where all those trial payments have gone. Even the trusts that hired the servicers are not getting transparency on what they are doing with junk fees and trial payments. So really, after the Federal bailout, they get a second layer of money by stealing trail mod payments and then a third layer of criminal behavior by not giving all the proceeds to the bond holders. It boggles the mind! HAMP 2 my ass. Just use the existing HAMP program to criminally prosecute, punish and put a few executives in Rahway New Jersey general population prison. Then we will have a meaningful response from the banks, keep families in their homes and we can mend the economy and get back to work.

  • jyllyj became a registered member

    2011-03-16 08:27:31View | Delete