The Draining, er Entertaining, of the Swamp Creatures

What a shocker.  Would you believe that instead of vetting (extremely, bigly, like the immigrants) that Trump is feting the Wall Street criminal geniuses that blew up the economy?  I know.  After eating some of that fine (read: gristly) Trump steak (spitting it into their napkins), the Wolves of Wall Street leave cackling. Plan? Executed. In record […]

Democrats Boycott Foreclosure King Mnuchin

Bloomerg Reports Dems’ Ban of Vote for Foreclosure King The nominations of Steven Mnuchin to lead the Treasury and Tom Price to run Health and Human Services ran into roadblocks Tuesday after Democrats staged a boycott as part of an intensified battle against some of President Donald Trump’s nominees. The Senate Finance Committee was forced […]

Deutsche Breeds Scandal After Scandal

Department of Justice proposed a 14-billion dollar fine for Deutsche’s mortgage backed securities scandal (you’re thinking, “you’re going to have to be more specific; which one?”)  Wall Street J.  Deutsche’s stocks took a tumble late yesterday and continuing today.  Before that, last week it was reported in the New Yorker that Deutsche had a newer 10 billion dollar […]

Investors in Commercial Mortgage Backed Securities Nervous About Sharp Tactics of Special Servicers

Investors in Commercial Mortgage Backed Securities (CMBS) are objecting to the aggressiveness of special servicers.  Special servicers are transferred servicing rights to loans that are already in default.  These complaints were obliquely mentioned in a recent Fitch Ratings press release. Apparently, just as with Residential Mortgage Backed Securities (RMBS), special servicers may be acting abusively […]

More on Dayen’s Book “Chain of Title”

We did a recent post on “Chain of Title.” I saw this article today and it resonated with me. I have also experienced the weird “blame the victim” vibe in courthouses.  Meanwhile, my clients were not just financially decimated, bamboozled, and betrayed, but some were literally dying.  They needed medical care they could no longer […]