Why would Goldman Sachs buy Delinquent and Defective Mortgages? Posted on March 18, 2017 by Neil Garfield By the Lending Lies Staff


From Livinglies weblog:
Posted on March 18, 2017 by Neil Garfield
https://livinglies.wordpress.com/

Why would Goldman Sachs buy Delinquent and Defective Mortgages?
Posted on March 18, 2017 by Neil Garfield
By the Lending Lies Staff

Just last year Goldman Sachs entered into settlements with state and federal governments over the sale of toxic mortgage backed securities to investors while subsequently shorting the very same securities they were selling. Goldman would agree to provide $1.8 billion in debt relief to delinquent borrowers. However, since Goldman (and likely no other identifiable party) doesn’t owns the debt, Goldman cuts its losses by repackaging the toxic debt, assigning it an AAA rating and selling it to unsuspecting investors and pension funds for a fee, thus off-loading any liability. Goldman knows the feds won’t do anything to stop its crimes spree- so why not sell mortgage backed securities you know are toxic?
Goldman has once again successfully masterminded a new strategy to satisfy the $1.8 billion settlement without having to fund a dollar of that outstanding obligation, and while also profiting on this RICO scheme.
Goldman’s plan includes buying up billions of dollars of non-performing and defective loans at massive discounts. Goldman just announced they were purchasing 4.5 billion dollars in non-performing loans from Fannie Mae. It would be interesting to research if Fannie Mae discloses that these loans have material defects that cannot be remedied.
Goldman then contacts the homeowners and negotiates loan modifications by incentivizing the homeowner to participate by reducing their principle balance. Most desperate and unsuspecting homeowners have no idea that Goldman is acting as a debt collector and there is no underlying party that owns the debt or has a right to modify the mortgage contract in the first place. Once the modification is signed, in theory, a “new” loan is issued that rectifies all past endorsement, assignment and trust issues, while whitewashing all prior fraud.
The homeowner is now making payments on a new loan that is less than Goldman’s initial discount on the original purchase. Goldman than credits the principle forgiveness against its $1.8 billion dollar mortgage relief obligation while making money! Goldman is able to skirt the punishment and the fine costs them nothing because the debt was acquired at an even larger discount.
Finally, the true ingenuity of this plan emerges. Once the loan is modified and performing, the loans can be repackaged and resold as Triple-A paper once again to unsuspecting buyers.
The Wall Street Journal reports that the debt scavengers at Goldman Sachs are the largest buyer of Fannie Mae’s non-performing loans, having purchased $5.7 billion worth of unpaid loans over the past several months. Goldman Sachs should have been barred from ever participating in mortgage backed securities transactions after its last criminal enterprise.
Over the past year-and-a-half, Goldman Sachs has become the largest buyer of severely delinquent home loans from Fannie Mae. In fact, Goldman has acquired nearly two-thirds of $9.6 billion in loans the agency has auctioned off, representing unpaid loan balances in excess of $5.7 billion, according to the Wall Street Journal’s review of government records.
In all, Goldman has spent roughly $4.5 billion on some 26,000 Fannie-owned loans, according to government records. It has also been buying mortgages, from private sellers and Freddie Mac. Apparently while everyone is unloading zombie mortgage loans, Goldman Sachs is buying as much toxic sludge that is available.
According to the government-sponsored enterprise, the portfolio was split into four pools of loans and auctioned off.
The winning bidder of the smallest of the four pools is Igloo Series II Trust (Balbec Capital). That pool contained 1,465 loans that carry an aggregate unpaid principal balance of $246,748,844.
The pool has an average loan size of $168,429; a weighted average note rate of 4.51%; a weighted average delinquency of 29 months; and a weighted average broker’s price opinion loan-to-value ratio of 78.75%.
The remaining $1.43 billion in unpaid principal balance went to MTGLQ Investors, a “significant subsidiary” of Goldman Sachs.
MTGLQ Investors is now a fixture among the NPL sales from both Fannie Mae and Freddie Mac.
Last year, MTGLQ Investors bought billion-dollar pools of NPLs from Fannie and Freddie in several different sales.
In this latest sale, MTGLQ Investors bought the remaining three pools of NPLs.
The first pool contained 3,062 loans that carry an aggregate unpaid principal balance of $496,205,215.
Goldman has an excellent business plan. By renegotiating and repackaging worthless mortgage loans it can polish high-risk loans into grade-A paper. The pension funds take on all of the risk if the homeowners default, and Goldman will have kicked the can down the road to the newest suckers in the scheme.
On Tuesday Goldman won the majority of defective loans at Fannie Mae’s latest auction, its largest to date. The bank bought about 8,000 loans with unpaid balances of $1.4 billion.
Goldman has paid between 50 and 90 cents on the dollar for the loans, according to Fannie Mae, however, some (if not all) of these loans are likely not worth a dime until fraudulently modified.
Meanwhile, because Goldman is getting credit toward fulfilling the terms of its settlement, it can afford to pay more for the delinquent loans than other competing bidders, which essentially means they’ve not only created but they have cornered an entire market.

Two Ripoffs in 2017, What Next?


So far this year, Lois L. screwed me out of $4600.00 (theft of services) and now PayPal claims that today I purchased something from HP HP Home for $1320.38. I don’t even keep that much money in PayPal!

Hell with a roll like that going on, I might as well throw money out of the window!

When it rains, it pours!

MARCH 13, 2017 BY PRESS RELEASE Former Wells Fargo Branch Manager Convicted of Laundering Proceeds of Trademark Scam


MARCH 13, 2017 BY PRESS RELEASE
Former Wells Fargo Branch Manager Convicted of Laundering Proceeds of Trademark Scam
Submit the press release
http://www.satprnews.com/2017/03/13/former-wells-fargo-branch-manager-convicted-of-laundering-proceeds-of-trademark-scam/

A former manager of a Wells Fargo branch in Glendale, California, was convicted on Friday of money laundering and false bank entry charges in connection with laundering the proceeds of a trademark scam.

Acting Assistant Attorney General Kenneth A. Blanco of the Justice Department’s Criminal Division, Acting U.S. Attorney Sandra R. Brown of the Central District of California, Acting Inspector in Charge William H. Hedrick from the U.S. Postal Inspection Service’s (USPIS) Los Angeles Division, Inspector in Charge Regina L. Faulkerson of USPIS Criminal Investigation and Acting Special Agent in Charge Anthony J. Orlando of the Internal Revenue Service Criminal Investigation (IRS-CI) Los Angeles Field Office made the announcement.

After a four-day jury trial, Albert Yagubyan, 37, of Burbank, California, was convicted of one count of conspiracy to launder monetary instruments, four counts of concealment money laundering and one count of false bank entries. Sentencing has been scheduled for May 22, 2017, before U.S. District Judge Stephen V. Wilson of the Central District of California, who presided over the trial.

According to the evidence presented at trial, from June 27, 2014 to Sept. 18, 2015, Yagubyan laundered over $1 million of proceeds from a mass-mailing scam run by co-conspirator Artashes Darbinyan, 37, of Glendale, California, who used companies that they called “Trademark Compliance Center” (TCC) and “Trademark Compliance Office” (TCO) in order to make fraudulent offers to trademark applicants for registration and monitoring services.

Yagubyan laundered the funds by instructing subordinates at the bank to open bogus bank accounts, into which proceeds of the TCC and TCO scam were deposited, and process fraudulent withdrawals, wire transfers and cashier’s checks for co-conspirators Darbinyan and Orbel Hakobyan, 42, also of Glendale, the evidence showed. The cashier’s checks and wire transfers were made out to gold dealers. The bank accounts were opened using the identities of individuals from Eastern Europe who were not in the United States at the time the accounts were opened. The evidence at trial further showed that Darbinyan paid Yagubyan a percentage of the laundered proceeds. Yagubyan, in turn, made payments and promises of promotion to subordinates to induce them to conduct the fraudulent transactions. When Wells Fargo’s loss prevention office flagged the bogus accounts for closure, Yagubyan intervened to try and keep them open, the evidence showed.

Darbinyan and Hakobyan pleaded guilty in December 2016 to mail fraud and money laundering charges and are scheduled for sentencing on June 19, 2017, before Judge Wilson. The investigation has resulted in a total of five convictions.

USPIS and IRS-CI investigated the case. Trial Attorneys William E. Johnston and Alison L. Anderson and Assistant Chief Brian K. Kidd of the Criminal Division’s Fraud Section are prosecuting the case.

Exposing The Clinton/Obama System To Discredit Donald Trump

Exposing The Clinton/Obama System To Discredit Donald Trump
by Tyler Durden
Mar 13, 2017 11:05 PM
Authored by Thierry Meyssan via VoltaireNet.org,
Seen on: Arlin Report:
https://wordpress.com/read/feeds/21723065/posts/1375813062
From: ZeroHedge
http://www.zerohedge.com/news/2017-03-13/exposing-clintonobama-system-discredit-donald-trump

This article is a warning – in November 2016, a vast system of agitation and propaganda was set up in order to destroy the reputation and the authority of President Donald Trump as soon as he arrived in the White House. It is the first time that such a campaign has been scientifically organised against a President of the United States, and with such resources. Yes, we are indeed entering a post-Truth age, but the distribution of rôles is not what you may think it is.

The campaign waged against the new President of the United States by the sponsors of Barack Obama, Hillary Clinton and the destruction of the Greater Middle East is on-going. After the Womens’ March on 22 January, a March for Science is scheduled to be held not only in the USA, but also throughout the Western world on 22 April. It’s goal is to show that Donald Trump is not only a misogynist, but also an obscurantist.

The fact that he is the ex-organiser of the Miss Universe pageant, and that his third wedding was to a model, is apparently enough to prove that he holds women in contempt. The fact that the President contests the rôle played by Barack Obama in the creation of the Chicago Climate Exchange (a long time before his Presidency) and rejects the idea that climatic disturbances are caused by the expulsion of carbon into the atmosphere attest to the fact that he understands nothing about science.

In order to convince US public opinion of the President’s insanity – a man who says that he hopes for peace with his enemies, and wants to collaborate with them in universal economic prosperity – one of the greatest specialists of agit-prop (agitation & propaganda), David Brock, set up an impressive system even before Trump’s investiture.

At the time when he was working for the Republicans, Brock launched a campaign against President Bill Clinton which would eventually become Troopergate, the Whitewater affair, and the Lewinsky affair. Having changed his colours, he is today in the service of Hillary Clinton, for whom he has already organised not only the demolition of Mitt Romney’s candidacy but also her riposte in the affair of the assassination of the US ambassador in Benghazi. During the first round of primaries, it was Brock who directed the attacks against Bernie Sanders. The National Review qualified Brock as «a right-wing assassin who has become a left-wing assassin».

It is important to remember that the two procedures of destitution of a serving President initiated since the Second World War were set in motion for the benefit of the deep state, and not at all for the benefit of democracy. So Watergate was entirely managed by a certgain «Deep Throat» who, 33 years later, was revealed to be Mark Felt, the assistant of J. Edgar Hoover, Director of the FBI. As for the Lewinsky affair, it was simply a way of forcing Bill Clinton to accept the war against Yugoslavia.

The current campaign is organised in secret by four associations:

Media Matters is tasked with picking up on Donald Trump’s mistakes. You read his bulletin every day in your newspapers – the President can’t be trusted, he got this or that point wrong.

American Bridge 21st Century has collected more than 2,000 hours of videos showing Donald Trump over the years, and more than 18,000 hours of other videos of the members of his cabinet. It has at its disposition sophisticated technological equipment designed for the Department of Defense – allegedly not in working order – which enables it to look for contradictions between their older declarations and their current positions. It should be extending its work to 1,200 of the new President’s collaborators.

Citizens for Responsibility and Ethics in Washington — CREW is a firm of high level lawyers tasked with tracking anything that could create a scandal in the Trump administration. Most of the lawyers in this association work pro bono, for the cause. These are the people who prepared the case for Bob Ferguson, the Chief Prosecutor of the state of Washington, against the immigration decree (Executive Order 13769).

Shareblue is an electronic army which has already connected with 162 million internauts in the USA. It’s job is to spread pre-ordained themes, for example:

Trump is authoritarian and a thief.
Trump is under the influence of Vladimir Putin.
Trump is a weak and quick-tempered personality, he’s a manic-depressive.
Trump was not elected by the majority of US citizens, and is therefore illegitimate.
His Vice-President, Mike Pence, is a fascist.
Trump is a billionaire who will constantly be faced with conflicts of interest between his personal affairs and those of state.
Trump is a puppet of the Koch brothers, who are famous for sponsoring the extreme right.
Trump is a white supremacist and a threat to minorities.
Anti-Trump opposition just keeps growing outside Washington.
To save democracy, let’s support the democrataic parliamentarians who are attacking Trump, and let’s demolish those who are co-operating with him.
Overthrowing Trump will take time, so don’t let’s weaken in our resolve.
This association will produce the newsletters and 30-second videos. It will base itself on two other groups – a company which makes documentary videos, The American Independent, and a statistical unit, Benchmark Politics.

The whole of this system – which was set up during the transitional period, that is to say before Donald Trump’s arrival at the White House – already employed more than 300 specialists to which should be added numerous voluteer workers. Its annual budget, initially calculated at 35 million dollars, was increased to the level of about 100 million dollars.

Destroying the image – and thus the authority – of the President of the United States, before he has had the time to do anything at all, can have serious consequences. By eliminating Saddam Hussein and Mouamar Kadhafi, the CIA plunged their two countries into a long period of chaos, and the «land of Liberty» itself may suffer severe damage from such an operation. This type of mass manipulation technique has never before been levelled at a head of state in the Western world.

For the moment, the plan is working – no political leader in the world has dared to celebrate the election of Donald Trump, with the exception of Vladimir Putin and Mahmoud Ahmadinejad.


I don’t know about the rest of you, I think the actions of these assholes is treason. They should be tried for treason.

Expert: Corium likely melted into earth… Will pour highly radioactive waste into ocean “for rest of time”


Report: Nuclear fuel still burning through bottom of Fukushima plant? — Expert: Corium likely melted into earth… Will pour highly radioactive waste into ocean “for rest of time” — NYTimes: Fuel may never be removed, reactors to be entombed like Chernobyl (VIDEO)
Published: March 13th, 2017 at 10:48 am ET
By ENENews
http://enenews.com/report-concern-nuclear-fuel-is-still-eating-through-structures-under-fukushima-reactors-expert-melted-cores-have-likely-burned-their-way-into-earth-will-continue-pouring-highly-radioactive-was

NY Times, Mar 11, 2017 (emphasis added): Some say the radioactive material may prove impossible to remove safely and have suggested leaving it and entombing Fukushima under a concrete and steel sarcophagus like the one used at Chernobyl.

Xinhua, Mar 12, 2017: There have also been concerns that the melted nuclear fuel residue is eroding the concrete bottom of the safety shell of the reactors, having already penetrated the reactor pressure vessel.

Xinhua, Mar 11, 2017: “It is very important to provide the public with information, including information about the concealment of the melted core,” [Naohiro Masuda, head of the TEPCO’s decommissioning unit] said… Masuda said that the residue of melted nuclear fuel is now “mostly immersed in water” and kept at a relatively low temperature, and that there is “no need to worry” about the melted nuclear fuel residue eroding through the concrete bottom of the safety shell.

DW, Mar 11, 2017: Even Shunji Uchida, the Fukushima Daiichi plant manager, couldn’t hide his skepticism from the visiting journalists. “Robots and cameras have already provided us with valuable pictures,” says Uchida, adding: “But it is still unclear what is really going on inside.”

Dr. Helen Caldicott on Nuclear Hotseat, Feb 22, 2017 (at 29:00 in): “There’s a huge amount of water that pours down the mountains everyday beneath the reactors which was all well and good when the reactors were intact – now they are not. Now there are three cores of corium – molten cores – that probably have buried their way, or dug their way, into the earth beneath the reactors. Even if they haven’t the reactor buildings have been shattered where the cores are so the water pours in and over the reactor cores continuously. And so that water becomes highly radioactive and then it pours into the ocean from the beneath the reactors and so everyday 300 to 400 tons – tons – of very radioactive water has poured into the pacific every day since the accident of March 11, 2011 and continues to do so and will do so I think for the rest of time.”

Full interview with Dr. Caldicott here

Brittius.wordpress.com on Pelosi

Originally posted on Sonora del Norte Press: House Minority Leader Nancy Pelosi D-CA speaking at a press conference over this past weekend said, “I think the press were ACCOMPLICES in the undermining of our election by the Russians by not pointing out this stuff is worthless…..” She was speaking of the Clinton emails exposed during…

via Pelosi Accuses MSM of Being Accomplices with Putin! — Brittius

Trey gowdy asks james comey the question of the century

Must Read\See Gowdy on Comey!

Basharr's Outpost

rebloggedfrom

Mario Murillo Ministries
mariomurilloministries.wordpress.com story by nick gass

Trey Gowdy asks James Comey the question of the century

Comey challenges truthfulness of Clinton’s email defenses

07/07/16 11:10 AM EDT

Updated 07/07/16 11:38 AM EDT

FBI Director James Comey confirmed on Thursday that some of Hillary Clinton’s statements and explanations about her email server to the House Benghazi Committee last October were not true, as evidenced by the bureau’s investigation into whether she mishandled classified information.

During an extended exchange with Rep. Trey Gowdy (R-S.C.), Comey affirmed that the FBI’s investigation found information marked classified on her server even after Clinton had said that she had neither sent nor received any items marked classified.

“That is not true,” Comey said. “There were a small number of portion markings on, I think, three of the documents.”

Asked whether Clinton’s testimony that she did not email…

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