Citizen Fires off a Neuron in Mortgage Title Issue

DeSantis Covers Confusing Title of ONE Property

70% of Remaining Monroe County Titles Remain Unscathed by Citizen Coverage

- Naked Conch - Posted by Matt Gardi -  September 1, 2012
Did a light bulb go on at the Key West Citizen?  Seemingly so, as John DeSantis penned a piece in this Sunday's edition of the Key West Citizen titled "Confusing mortgage ownerships, big problem."

While this latest effort at journalism by our esteemed daily is a positive event, the article barely even scratches the surface of the scale of the crisis.  DeSantis concentrates on the ownership issues of one property that was recently in the limelight for huge code enforcement fines.  He fails to address the fact that the issue he highlighted actually affects close to 70% of all title records in Monroe County.  This is the single most important issue that affects each and every one of us in a tangible and painful way.

Key West Citizen Finally Draws Attention to Foreclosure Fraud

Gwen Filosa Picks Up Story as an Aside to Campaign for Clerk

As if I was trying to hide it....sneaky old me, keeping that dirt secret by writing about it in a Newspaper!
- Naked Conch - Posted by Matt Gardy Gardi -  August 9, 2012 (Oooohh, a secret name change too!)
It was great to see the Citizen finally address the foreclosure fraud that is going on in our County, and throughout our Country.  Although as is typical, there were a few inaccuracies, but that's to be expected.  As someone who has tried desperately to draw any and all attention about the issue to the public forefront, including writing a six part series in Key West the Newspaper, it is good to see the issue brought to the public's attention....finally.  For those interested in the series it is compiled conveniently here.

12 Year Old Girl Explains Fraudulent Banking System

She probably can't pass the FCAT, but she would make a great Presidential candidate.

- Naked Conch - Posted by Matt Gardi -  May 17, 2012

12 year old Victoria Grant of Canada explains in a few minutes what the mainstream media mumblers have failed to do in years.  It applies across the board to most every nation's financial system.  Did you ever wonder...?  Enjoy!

Also, while we are enjoying the truth about banks, below is a quick little news clip of a Kansas City man who paid cash for a house, and subsequently had it invaded, had the locks changed, and all his belongings discarded.  He is suing JP Morgan Chase, but one has to wonder where law enforcement is in all of this!?

Click here for the story.

We are beginning to see this type of activity here in the Keys as well, as a Marathon couple recently reported to me that a bank "servicer" recently walked into their home, scared off a cleaning crew, and posted a notice that the locks would be changed....and the property had not even had a Lis Pendens filed on it yet.

You and I would be in jail for home invasion and theft, but somehow the banks get to make these "mistakes" free of consequence.  We also would be in jail for filing any of the countless fraudulent documents that the banks have filed with our Clerk's Office, and that Judges throughout the State are rubber stamping, destroying our title histories, property values and tax base.

It's crimes of fraud, theft and forgery, plain and simple.  Where are the handcuffs?  Where?

www.mattgardi.com
Paid for by Matt Gardi, Republican, for Clerk of Courts

  

Mortgages Pledged to Multiple Trusts

More Evidence Exposing Banks Sold the Same Mortgage Numerous Times
- Naked Conch - Posted by Matt Gardi -  March 20, 2012
Whether you are being foreclosed on, have just paid off your mortgage, purchased a property recently, or wonder why your pension fund is under funded, this ought to concern you greatly!  Gary Victor Dubin, a Hawaii Foreclosure Defense Attorney recently analyzed the contents of three WaMu Mortgage Loan Trusts.  These are the trusts that securitized mortgages are sold to.

Some mortgages appear to have been sold as many as SIX times!  You can read the full report "Securitized Distrust" by clicking here.  Of note is this little gem...

It’s no wonder that the Wall Street MBS scheme collapsed. Last night we ran a random audit on WaMu Mortgage Pass-Through Certificates, Mortgage Loan Trusts. One loan was found in 6 different trusts, another loan was found in FIVE trusts’ original SEC loan level data, 39 were listed in 3 trusts, and 503 were listed in two separate trusts.

The winner so far is a NEW YORK condo, loan number WaMu loan # 714934858, appeared in 6 DIFFERENT trusts from May through November 2006…

Folks, I have discussed frequently the reason Banks have had to flood our Clerk's Office and land records with fraudulent documents to prove they own a mortgage.  It is because they defrauded investors when they securitized the mortgages and destroyed any record of them... including the original notes and mortgages.

This effects everyone.
 - If you just paid off your mortgage and feel happy about that Satisfaction of Mortgage that is on file, you may just find another investor coming out of the mess with a claim you still owe them the mortgage.

 - If you just bought a property, and think you have title clean and free, you just may find out there is a lingering mortgage or two...or six, hanging over your head!

 - If you are being foreclosed on, you might just be losing your house to the very same entity that defrauded your pension fund with Mortgage Backed Securities that contain multiple pledged mortgages!

 - If you have just watched your home value plummet as a result of diminishing confidence in title histories, ultimately effecting our tax base, and the revenue of every public agency in the Keys, you can thank the banks!


This isn't just an anomaly, this is wide spread, systematic fraud.  We are all victims.

www.mattgardi.com

Paid for by Matt Gardi, Republican, for Clerk of Courts

New Bank Settlement to be Subsidized by...Yup..the Taxpayers?

No Teeth Settlement Exposed by Financial Times.
- Naked Conch - Posted by Matt Gardi -  Feb 17, 2012

Leave it to a foreign news source to cover the most pressing issue in the USA.  No need for American news sources to cover the shortcomings of a settlement that relieves global bankers from criminal prosecution for the greatest fraud in world history.

Even for those that thought that the Federal and State regulators' recent settlement with the Big Banks was a step in the right direction, albeit a small one, we now learn that not only have the banks evaded criminal prosecution for destroying the vast majority of our title histories, but in fact, we the taxpayers, will be the ones paying the settlement on the bankers' behalf.

www.mattgardi.com

Paid for by Matt Gardi, Republican, for Monroe County Clerk of Courts

This only continues to confirm that our Federal and State regulators are neutered by the Banks' control and influence, and that it is imperative that we address the infractions and damage done at a local level.

According to the Financial Times, (Along with a great analysis available at ZeroHedge) an "Unannounced Clause Links HAMP payments with the pact."  The article states,

However, a clause in the provisional agreement – which has not been made public – allows the banks to count future loan modifications made under a 2009 foreclosure-prevention initiative towards their restructuring obligations for the new settlement, according to people familiar with the matter. The existing $30bn initiative, the Home Affordable Modification Programme (Hamp), provides taxpayer funds as an incentive to banks, third party investors and troubled borrowers to arrange loan modifications.

Neil Barofsky, a Democrat and the former special inspector-general of the troubled asset relief programme, described this clause as “scandalous”.

“It turns the notion that this is about justice and accountability on its head,” Mr Barofsky said.

BofA, for instance, will be able to use future modifications made under Hamp towards the $7.6bn in borrower assistance it is committed to provide under the settlement. Under Hamp, the bank will receive payments for averting borrower default and reimbursement from taxpayers for principal written down."

Sweet.  Just sweet.

Or better put, as Tyler Durder pens on ZeroHedge.com, "Just to be clear: the guilty party in a fraud against taxpayers has their 'punishment' paid for by the innocent taxpayer who had the crime committed against them? ok, thank you."

Today on the Naked Conch Hour - 49 State Settlement with Banks

Joining me to day, Friday Feb 10 at Noon on the Naked Conch Hour is Rick Boettger, fellow Show host, and columnist for Konk Life to discuss the recent 49 State Attorney Generals settlement with the banks regarding their foreclosure practices.  Where are the handcuffs?

Watch live on Naked Conch

or

http://www.konknet.com/

Bankster vs. Deadbeat - A Blast from the Past

With the 50 State Attorney Generals so close to a settlement with the banking industry to accommodate the fraud that is so pervasive in the industry, we thought we would bring back our blast from the past video which gives a great overview of the "bankster vs deadbeat homeowner" debate.  The settlement appears to whitewash the fraud, and allow for penalties rather than convictions, with States such as California, New York, Nevada, Delaware and Massachusetts raising objections...while our esteemed Florida Attorney General Pam Bondi advocates for the banks.  Enjoy the video, we feel it is a comprehensive analysis of the debate!

National Association of Realtors Revise Ridiculous Numbers

It's all about the truth, folks.  Apparently the National Association of Realtors share the sentiment of Jack Nicholson in A Few Good Men, and think, "You can't handle the truth."

You see, after having misguided America for the last few years by masking the true decline in property values, (For what reason I can only imagine, but certainly not to sucker anyone into the idea that it is a "good time to buy" at an inflated value) these so called experts need to revise their numbers....DOWN BIGTIME. (Read about it here on CNNMoney and Fox Business News.)

BUY! BUY! BUY!

Another Great Real Estate Analysis by the Key West Citizen

Hey listen, I'd be the first person to rejoice in the stabilization of Real Estate prices in the Keys, for as I have argued in the past it is absolutely essential to so many aspects of our lives.  There are the obvious aspects of home equity, tax base and funding for all our government services that depend so critically on stable home prices.  But as I have also argued, fraud in the foreclosure, rubber stamping of robo-signed documents, destruction of our title histories, and a judiciary that turns a blind eye to it, enables the fraud and does more to adversely our property values than 100 fluff pieces that reference Real Industry mouthpieces regurgitating the same old tired rhetoric.

"The market is coming back!" "It's a great time to buy."  It's as tiring as watching the World Championship of Knitting.  What we need is the truth and an exposure of what is truly depressing our property values, and not a  monthly twisting of the one single statistic that can birth the latest "Real Estate Market Rebounds" headline.

For example, enter stage left, Robert Silk and the Key West Citizen's latest verbal portrait of joy.  In an article in Sunday, November 20th's edition of the Citizen with a headline of "Priciest Homes Lead Market Rebound," Silk references the fact that waterfront homes have enjoyed a year over year price increase.  Woo Hoo.  Now where did I leave my Pom Poms?

How REAL Judges rule...

Too bad they aren't from the Keys.

There is actually joy in Mudville folks.  A couple of rulings by some Judges hit the nail on the head recently and took banks to task.

First, this in from the home of sweet tea, pecan pie and homemade wine...

In an Order denying a US Bank's motion to dismiss, Judge Dennis Blackmon writes;

“Sometimes, only courts of law stand to protect the taxpayer. Somewhere, someone has to stand up. Well, sometimes is now, and the place is the Great State of Georgia. The Defendant’s Motion is hereby Denied”
“The United States Government paid taxpayer dollars to the largest of our financial institutions, and to European Union Banks, in order to prop up those poorly run organizations. Twenty Billion of those dollars were handed over to the defendant, U.S. Bank.”

...and this...

“A cynical Judge might believe that this entire motion to dismiss is a desperate attempt to avoid the discovery period, where U.S. Bank would have to tell Mr. Phillips how his financial situation did not qualify him for a modification. Or, perhaps he was qualified, yet didn’t receive the modification, in violation of U.S. Bank’s Service Participation Agreement (SPA).”

Remember this is the Judge ruling...

“I, on the other hand, am sure that nothing of the sort could be true. Maybe US Bank no longer has any of the $20 billion dollars left, and so their lack or written explanation might be attributed to some kind of ink reduction program to save money. I’m sure there is a perfectly reasonable explanation for why US  Bank will not print out the ONE page of figures that show that MR Phillip’s financials compared to the HAMP guidelines to clear this all up.”

Conclusion
“There is no merit to Defendant’s Motion to Dismiss, and same is hereby DENIED.”

Read the entire Order, it's worth it.  Who doesn't love sarcasm?  Too bad he isn't from Monroe County, FL.  We need a Judge like that.

But wait, there's more...two REAL Judges actually exist...someone pinch me....

Find out more and find the next clue to the Great Naked Conch Scavenger Hunt.  To read on ...click read more below.

An Army of Two

3rd District Court of Appeals Judge Attributes Destruction of Due Process to our own Judge Sandra Taylor
Sometimes you feel vindicated. Sometimes there is the occasion that some event occurs that solidifies your beliefs and eliminates that “lone wolf” feeling. Just when I was beginning to wonder why no one else can see what is so obvious to me, I read these words from 3rd District Court of Appeals Judge Juan Ramirez, Jr., 

“In my view, to affirm what happened here requires that we turn a blind eye to the Florida Rules of Civil Procedure, the Florida Bar Rules of Professional Conduct, and the Code of Judicial Conduct, to say nothing of the Constitutions of the United States and the State of Florida.”

What is this highly respected Judge referring to? Would you believe our very own 16th Judicial Circuit Judge Sandra Taylor, the retired Judge that has been handling so many of our foreclosure cases. What caused Judge Ramirez to articulate such an extreme, no holds barred position that correlates with my oft repeated suppositions? Ramirez explained,

“I dissent because I cannot condone the unprofessional and unethical means used by the bank’s counsel, with the trial court’s complicity, to obtain an amended final judgment in this case. Counsel for Centennial Bank admitted at oral argument that the amended final judgment, which more than doubled the amount of the deficiency judgment, was obtained after an ex parte communication with the judge’s chambers. Either the judge or her staff then advised counsel on how to proceed. Not only was it improper for the trial court to give legal advice, but the advice was wrong—directing counsel to send a letter with a proposed amended final judgment, rather than to file a motion seeking appropriate relief. This was then followed by another ex parte communication—a letter from the bank’s counsel to the judge, that then resulted in a new final judgment two and half times larger than the previous final judgment. The bank did not even send a copy of the letter to the appellant.”

State Attorney Dennis Ward To Take Closer Look at Robo-signing.

Inspired by a recent article in Florida Bar News, State Attorney Dennis Ward of the 16th Judicial Circuit in Florida has expressed a renewed interest in examining what has commonly become known as robo-signing. Robo-signing and it’s derivatives occur when banks and their counsel create documents relating to foreclosures that are often questionable in nature. Recent media attention has been directed towards the issue resulting in a temporary decrease in foreclosure filings, but that trend now seems to be reversing.

In a recent discussion after the Florida Bar News article, Ward stressed that his greatest concern is preserving the integrity of the system, including both the legal process and land records. In instances when someone is not paying their mortgage he feels that a creditor should have every right to foreclose as expeditiously as possible, but he stresses that that is provided the creditor does so with valid paper work, and within the proper bounds of due process.

“The economy has created an unfortunate avalanche of foreclosures,” Ward suggests “and with that sheer volume it is realistic to expect some valid errors. But in those instances when someone knowingly creates questionable documents and files them, I have a problem with that.”

In many cases knowingly questionable documents have resulted in foreclosures, and Ward sees two problems resulting from this. First is the obvious fact that a bank may have taken possession of a home by questionable means, a point of contention in public debate of the issue. Some see this as a smaller infraction than the homeowner holding onto a house and not paying their mortgage. But State Attorney Ward is equally as concerned about the difficulties this creates down the road as a result of clouded title histories. He feels this also could create challenges for subsequent purchasers who may have to deal with the ramifications of the questionable process that occurred well before they bought the property.

“There is no question that this puts pressure on property values across the board,” Ward suggests, “and ultimately it places a burden on our tax base, record keeping and legal system down the road.”

Ron Saunders Endorses Department of Justice Investigation of Attorney General Pam Bondi (with the Ferocity of a Common House Gecko)

As originally run in Key West the Newspaper Aug 5, 2011 (With online Updates)
Matt Gardi Revisits the Latest in Foreclosure Fraud

If you have been looking for a distraction from the latest Surreality TV of the Debt Ceiling Debacle, otherwise known as how 535 grown adults and a President can’t do third grade math, look no further. It’s been a couple months since Key West the Newspaper published a six part series I penned on the foreclosure fraud crisis that our State and Nation are currently facing. If you recall, throughout the series I described the rampant fraud that began with the mortgage securitization process, examined the evasion of filing fees by banksters, and worked through robo-signing and the rubberstamping of questionable cases by Judges. Ultimately the series exposed how the process is destroying the rule of law and our title histories and effects each and everyone of us, whether we’re in foreclosure or not. You know, sort of a touching love story.

The series illustrated that the resultant clouded title histories will continue to erode confidence in our property values for decades. Decreasing property values then destroy net worth, and put more homeowners in a negative equity position, the prime reason people choose to walk away from their underwater mortgages. This only perpetuates the cruel and vicious cycle, which also is destroying our tax base, and causing budget shortfalls in so many of our local agencies. The entire series is still available on my blog at www.nakedconch.com.

Untangling the Foreclosure Mystery - Part 6

I’d like to extend a heartfelt thanks to Key West the Newspaper for providing me this forum to discuss the critical nature of this foreclosure mess over the last several weeks.  I hope at the very least I have been able to illustrate a reason to look beyond the headlines so that we all become a little more aware of these issues.  It is critical that we all understand how so many financial ailments find their root cause embedded in the intentional fraud devised and perpetrated by the too big to fail banks.  It is a layer cake comprised of mortgage fraud, fraud when the mortgages are securitized, and all topped off with a nice decorative icing of foreclosure fraud.

So now that we are in this mess, how do we get out of it?  First we have to stabilize property values by building confidence in our title histories.  The downward spiral  we are in only places more homeowners in a negative equity position, which is the primary cause of foreclosures, and this only perpetuates the cycle.  We need to do more than run articles of Real Estate agents screaming buy, buy, buy!!!

Our County Clerk needs to do an intensive reclassification of virtually every property in our County.  Not just those in foreclosure, but EVERY property.  Notices need to be sent out to every mortgage holder that if proper assignments have not been accurately recorded within a time specified period that all claim to the property beyond what is on file will be eliminated.  Any subsequent assignments need to be accompanied by copies of a properly transferred note, whose dates of transfer correlate with the mortgage assignments. Detailed documentation of the physical location of each note from inception to present needs to accompany these new filings.  These filings need to be reviewed in detail to detect any BS, and anything that even looks suspicious needs to be immediately referred to the State Attorney.

Untangling the Foreclosure Mystery - Part 5

Last week in Key West the Newspaper we began to review case 09-CA-471-K, a foreclosure case here in the 16th Judicial Circuit.  We highlighted some clearly questionable documents produced by the Law Firm Marshall C. Watson, on behalf of their Plaintiff Countrywide.  I also acknowledged that the case I began to describe in detail was my own.  However, it is also similar to countless other cases filed here in the Keys and throughout the State of Florida.

Let’s now take a look at how those in a position to address such egregious docs are handling the oversight of such cases.  First, Attorney General Pam Bondi.  She did recently fire Assistant Attorney General Erin Collins Cullaro for having “moonlighted” at a foreclosure mill law firm. (Who then went on to work for Shapiro and Fishman, another foreclosure mill under investigation.)  But what comes from these investigations?  In the instance of Bondi’s review of Marshall Watson it resulted in a two million dollar fine, and no admission of wrong doing.  That may sound like a lot, but remember this is one of the largest foreclosure mills out there, two million dollars is a drop in the bucket compared to their annual revenue.  It’s the cost of doing business.

Folks, these documents in many cases are potential felonies...countless in number, used to take possession of peoples homes, and that ultimately destroy YOUR property values by creating questionable title histories throughout our community.  No admission of wrong doing, and right back at it!!??  Why not jail time?  Bondi may as well be applying sun lotion to Marshall Watson’s back.

Untangling the Foreclosure Mystery— Part 4

As seen originally in Key West the Newspaper May 27, 2011

Commentary by Matt Gardi

The last few weeks, in this newspaper, I have made an attempt to expose what is truly going on in the foreclosure process, and how it ties back to a myriad of other systematic issues affecting our daily lives. Last week, we touched on the fact that the court system is incentivized directly by the Banks that have caused this crisis.

But I would be remiss if I did not mention the Foreclosure and Economic Recovery Plan, aka the “Rocket Docket.” In FY 10 -11, our legislature, (clearly influenced by the Banking lobby) devised the Rocket Docket to appoint retired Judges to reduce the backlog (grease the skids) of foreclosure cases by 62 percent during the fiscal year.

You might note that appointed retired Judges do not face the scrutiny of elections.

Here in the Keys, that duty has been assigned to Judge Sandra Taylor. Taylor has made an effort to proactively dismiss cases for lack of prosecution, but according to a report by the Office of State Courts Administrator, she only disposed of 23 cases in the first three months by dismissing them, while granting 100 Summary Judgements of Foreclosures. That is a four to one ratio in favor of the banks.

Again, allow me to remind you that defendants are not challenging most of these cases, and if a decent review of each case is not conducted, you may end up with a watershed of adverse consequences down the road, as per my commentary from last week. Attention to the documents in each case is essential to preserve the integrity of our title histories, and ultimately our property values, regardless of whether or not a defendant is present.

Untangling the Foreclosure Mystery - Part 3

As seen in Key West the Newspaper May 20, 2011

Over the last couple of weeks I have been sharing with you an ugly portrait of how almost every economic ailment we are faced with somehow ties back to bank fraud, and what has now morphed into foreclosure fraud.

I’ve described how the banks defrauded investors, destroyed the titles, evaded filing fees, and are now stealing houses. It affects everyone, and you should be irate not only with the banks, but with those responsible for maintaining the integrity of our system.

For example, when you hear about budget cuts at the school affecting your child’s education, it is traced back to tax base, and property values. Property values are traced back to confidence in title histories, which have been wantonly destroyed by the banks while our County Clerk has been asleep at the switch by allowing the banks to arbitrarily decide that they will now maintain land records.

Untangling the Foreclosure Mystery - Part 2

As seen in Key West The Newspaper May 13, 2011
Part Doo because this is where it really starts to stink, and we’re all stepping in it.

If you recall last week I began to unravel the foreclosure mess that is invariably affecting every one of us. I began this series of commentaries to discuss how all of the economic ailments you are hearing about lately are intimately entwined.

Property values, court budgets, pension funds, robo-signing, tax base, foreclosures, and bank fraud are all seamlessly linked together.

Last week I described how main stream media covers this crisis superficially, and never gets to the meat of the story, while only touching on foreclosure “paperwork issues” the banks are having, and thereby omitting the holy grail of systematic fraud.

I posed the question, “Why do the banks have to produce questionable documents to proceed with a foreclosure?” and “Why can’t the banks simply use the documents on file in the County Clerk’s Office to foreclose?”

I alleged rampant, intentional, widespread bank fraud is the reason, and I answered the questions above by suggesting that the banks intentionally destroyed original notes and mortgages. On purpose.

Untangling the Foreclosure Mystery - Part 1

As run in Key West the Newspaper May 6, 2011
How is it that so often I am reading a news article and find myself pleading with the reporter to ask the next question?

So often it seems reporters will just leave the story with one major disconnect that could put all the pieces of the puzzle together. That was the case again recently with an article regarding foreclosure in the Sunday Citizen. The worst part about it is that the story was just starting to scrape the surface of what very few journalists have been able to expound upon.

Granted, the reporter may have been limited by the confines of column inches, or the directive of editors telling him to be concise, but why can’t reporters just dig a smidgen deeper versus regurgitating the same old rhetoric about foreclosures that’s passed around the AP wire?

Fortunately, it’s why everyone should, and I do, love Key West the Newspaper. They are concerned about the truth, and making sure you know it. To that end they have provided me the opportunity, in a forthcoming series of articles, to provide an explanation of how it all ties together. In the next few weeks I hope to enlighten you on how bank fraud, your property values, everyone’s due process, our tax base, robosigning, court budgets, banks, Pam Bondi, the Florida Bar, real estate agents, overwhelmed judges, and market confidence all twist together like one large screw applied firmly to a certain part of your posterior anatomy— regardless of whether you are a homeowner, a pensioner, a taxpayer, or just someone who breaths oxygen—trust me you’re feeling it. Here’s the same old tired story from the main stream media: