US BANK'S HOODWINKING NO LONGER FOOLING JUDGES

In an article written by Barry Fagan in JD SUPRA business advisor- he states that

" It has long been the successful strategy of banks to hoodwink judges into treating them as Holders in Due Course — even when HDC status is expressly denied by the foreclosing party. For them it is simple: they have the note in their possession and that is all anyone needs to know. That is dead wrong."

Many homeowners have lost their cases when the bank boldly lies to the courts about the chain of title and their right to foreclose.  However in St. Clair v US BANK  the court opines

"Ultimately the problem with US Bank’s attempt to establish standing to foreclose is that it relies on a “paper trail” that beats around the bush but never axes the tree necessary to establish the legal requirement of standing. We cannot, as advocated by U.S. Bank, presume standing simply because it serviced the loan; Long standing case law prevents us from doing so.”

This is what so many foreclosure fighters have been fighting for- hopefully the tide is turning.
See the July 17 2015 opinion here. 

http://www.2dca.org/opinions/Opinion_Pages/Opinion_Pages_2015/July/July%2017,%202015/2D14-2111.pdf

Bank VP Gets 3.5 Years For Fraud

So they pick on one little bank in Georgia after all of the big banks ADMIT fraud and just pay the cashier to go free? Is this really justice?

 The former vice president of a Georgia bank has been sentenced to three and a half years in federal prison for using his position to profit off of foreclosed homes in the wake of the housing crisis.

“Bank fraud is a critical problem that has hit Georgia especially hard,” said Acting United States Attorney John A. Horn.

William R. Beamon was convicted by a federal jury in December of five counts of bank fraud, for which he will serve three years and six months in federal prison and forfeit property he took control of while perpetrating the fraud at Appalachian Community Bank in Ellijay, Georgia      http://www.justice.gov/usao-ndga/pr/appalachian-community-bank-vice-president-sentenced-federal-prison-bank-fraud

PUNITIVE DAMAGES UPHELD AGAINST US BANK IN MONTANA CASE

Jeff Barnes, who has previously argued in front of the Montana Supreme Court for homeowners in fraudulent foreclosure cases, explains why banks try to avoid jury trials at all cost.




http://foreclosuredefensenationwide.com/?p=547

Feds chicken out on FIRREA lawsuit against B of A

According to Ben Protess article in Dealbook,  Judge Cayer is recommending to drop the government's lawsuit against Bank of America. In a time where Americans, for the most part, are outraged at the lack of criminal prosecution against the banksters, we have yet another Judge who wants to let them off the hook? Was the $9.3 billion settlement actually a payoff to get out of the criminal charges?

"The lawsuit cites emails from the bank’s employees expressing concern about the quality of the mortgages underling the securities, including one employee who wrote that some mortgages were “like a fat kid in dodge ball, these need to stay on the sidelines."

"Bank of America, which was represented by Skadden Arps, denied the accusations and asked that the case be dismissed. It was assigned to a magistrate judge; holders of that position typically handle scheduling and other procedural matters but occasionally issue rulings as well.

The magistrate judge agreed with Bank of America, concluding that the Justice Department had failed to meet the requirements for a case involving false statements to a government agency. The Federal Home Loan Bank is not an agency. And the Justice Department’s accusations, the magistrate judge ruled, fail to satisfy the requirement that misstatements materially affected the Federal Home Loan Bank’s government regulator"

see the story at DealBook here    http://goo.gl/3AH7lC