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  • BofA and U.S. Bancorp face another mortgage suit [View news story]
    No bank insider - but avid reader, researcher and document diver. The details are in the numerous tell-all books by insiders, coupled with complaints by investors, insurance companies, SEC, FDIC, FHA, to name a few...not to mention depositions, transcripts, reading adversary proceedings and exhibits filed in bank-related bankruptcies...then searching the patents and trademarks and following the USPTO assignments like Ocwen's Altisource to Luxenbourg and Fidelity to LPS Desktop to BofA and of course, there's Merrill Lynch and MDA at the end of the rainbows...and it certainly appears there were agencies that knew the score. Frankly, I don't think pension funds or borrowers had a fighting chance.

    It's not just me digging into research - there are several thousand of us providing, reporting and sharing material information. There was a great deal of intentional fraudulent concealment, material alteration and unilateral mistake by the banks. IMHO if it weren't for the judges' fear of losing their own pensions (which in reality no longer exist) we'd see a lot better rulings against the banks. Of course, judges want to think they are ruling to save the economy (and of course that's suppose to include their pensions - won't they be surprised?!)
    Dec 21, 2014. 05:59 AM | 1 Like Like |Link to Comment
  • BofA and U.S. Bancorp face another mortgage suit [View news story]
    The intention of these banks is all over their patents and trademarks. Sadly, the patents outline exactly how to manipulate people through sales techniques, behavior control and algorithms designed to structure heavy debt loads causing the borrower to "tilt" into default. Banks knew before people signed on the loan when it would default. There are so many patents and software systems designed specifically for this fraudulent securities property scheme it would truly amaze you.

    These cases have plenty of merit. There was intention, and acknowledgment - they knew what they were doing. They also knew they were screwing the pension funds too.
    Dec 18, 2014. 11:31 PM | 2 Likes Like |Link to Comment
  • BofA and U.S. Bancorp face another mortgage suit [View news story]
    Honey - Fannie and Freddie were at the helm of the fraud. The Fannie 1003 loan application software patent was the golden gate to the data mining. The so-called good intention all stems from a will of corruption. Congress wanted Americans to have homes - the problem is it ran in opposition to the banks that were deluded by greed and took the opportunity to seize property (which was their full intention) rather than provide long term mortgages. They have no gold or silver backing their debt - they have more cocaine than money or good sense. Propery has become the new commodity. We cannot afford to displace Americans anymore than we can afford to keep paying the banksters' debt. It's Tulip Bubble time and we need a leader who is not afraid to call a halt to the gravy train of American tax dollars.
    Dec 18, 2014. 11:23 PM | Likes Like |Link to Comment
  • BofA and U.S. Bancorp face another mortgage suit [View news story]
    When are we going to wake up and realize the defective loans were intentional! Read the damn patents, service and trademarks! This new brand of securitization made defective loans necessary in order for the investors' funds to be liquid. Not only was there an intent to destroy the state land recordation, there was a willful and malicious intent to displace millions of American families in order to use property and personal earning ability to further the banks' phony profit line and ledger balances by selling and re-selling real estate.

    The banks intended to eliminate 30-year mortgages and had the ability through the data-mining they shared to create algorithms specifically designed to predict a default and if it didn't happen soon enough they would solicite a refinance, dump more debt into the loan stripping out the equity and keeping the homeowners strapped in debt, ripe for deficiency judgments and/or bankruptcy. It's a psychotic way of doing business, however, with the over $700 TRILLION in trading debt these banks have amassed is it any wonder why they cannot stop?
    Dec 17, 2014. 04:23 PM | 4 Likes Like |Link to Comment
  • Bank Of America: A World Without Countrywide [View article]
    Although that may have happened in a few cases - it was not the norm in the 72 million+ mortgages around the country. Banks preyed on minorities and homeowners and had excellent sales training tools and BofA even patented behaviorial control techniques. It's too convoluted and complex for a small comment box. Securitization grabbed Trillion$ of pension fund monies. Pension funds are required to invest in liquid and Triple A investments. The banks had a FUND 'EM (Mozilo's license plate) mentality because defaults were insured (AIG debacle). So they dangled 'cash out' and got signatures by telling borrowers that this was a safe investment and they could sell it or flip it if they got into trouble. The banks knew when they began this scheme it was going to be short lived - they just ramped up the process with their psychotic behavior and IBG-YBG attitude. Even when investor credit had pretty much stopped in early 2007 - banks gave out construction loans without permanent funding - knowing that there would be no way the developer, contractor or homeowner could get a final mortgage.
    Sep 20, 2014. 03:18 PM | Likes Like |Link to Comment
  • Bank Of America: A World Without Countrywide [View article]
    Mortgage documents in many cases have been altered. Originals were allegedly electronically transferred without the explicit consent of the borrower - see Section 16 of the UETA laws in your state. Many of the transactions made during 2003-2008 were nontraditional mortgages (NTMs) that included rigged LIBOR rates and notes that are pretty much non-negotiable. The use of BofA's Mortgage Electronic Registrations System, Inc. (a shell corporation) in the mortgages has clouded titles. Homeowners are waking up, looking for the actual owner of their loan and finding out it was never assigned to the securitized trust before the trust closed. Most SEC securitized trusts are governed by NY law which expressly states that any contravention to the trust is void. Trusts mandate a chain of endorsements and assignments be entered before the closing date. If you are not in default and took out a loan or refinanced during that period - it's time to see what has happened to your collateral. If your lender no longer exists and there are no assignments recorded on your mortgage -you may need to clean up your title. There are over 500 WaMu loans during 2006-2007 that are in 2 or more securitized trusts. One loan number was found in 6 trusts. Sounds like the Producers, doesn't it?!
    Sep 20, 2014. 02:59 PM | 2 Likes Like |Link to Comment
  • Bank Of America: A World Without Countrywide [View article]
    Detroit-Dave, let's go back a ways to the inception of Mortgage Electronic Registrations Systems, Inc. In the early 1990s. BofA and its predecessors are architects of this scheme. And long before CW ol' BofA was knee deep into securitization of mortgages with Fannie without full disclosure to the homeowner.
    Sep 16, 2014. 01:53 AM | 1 Like Like |Link to Comment
  • Bank Of America: A World Without Countrywide [View article]
    Transitory? Oh brother, are you naive! Apparently, you know nothing about Mortgage Electronic Registration Systems, Inc., the numerous USPTO patents BofA holds and uses to run its businesses, the numerous class action and individual lawsuits that stem from its own mortgage abuse (not just Countrywide), and/or it's links to document fabricators, it's participation in MBS scandals where mortgage loans were never properly assigned to the securitized trusts...the list goes on. But why would anybody, if you've read Flash Boys by Micheal Lewis, even still be gambling on Wall Street until some decent regulation and oversight has been put into place? These banks are not going to self-regulate.
    Sep 15, 2014. 02:52 PM | 2 Likes Like |Link to Comment
  • An End To Our Relationship With Yahoo, A New Era For Equity Research [View article]
    Good move.
    Aug 1, 2014. 02:11 PM | Likes Like |Link to Comment
  • Government reportedly wants more than $13B from BofA over mortgages [View news story]
    It was a totally patented (in the USPTO) scheme. Defaults were designed to occur because pension funds needed to be liquid (and Triple A rated - which was also scammed). The loans never made it to the bonds that the pension funds invested trillion$ in and the loans were not timely assigned to the trusts. Some loans were allegedly sold to more than one trust at the same time (like The Producers). Fabricated assignments came years after the REMIC investment trusts had closed and courts have ruled the assignment transactions fraudulent and void.

    Patents show how the banks targeted homeowners just like penny stock salesmen for refinancing and over leveraging the property with high pressure sales tactics and intentionally inflated appraisals. Using "pretender lenders" the banks wrote more loans than they could legally hold, inflated the appraisals, rigged the LIBOR interest rates to induce the homeowners, over-rated the bonds and systematically (through patented software) relaxed the underwriting so they could abuse both homeowners and investors. Then failed to assign the mortgage loans to the trusts. That's why the Fed keeps pouring in money down a bottomless pit.

    Not only have there been a massive loss of jobs due to outsourcing - but because corporations also invested their pension and retirement funds in these phony unregulated securities (MBS, ARS, ABS) - the companies had to layoff workers in order to meet their current retirement obligations. Outsourcing is a product of bad investment behavior - just like over leveraging the corporations as they merge and remake themselves every few years to meet, manipulate (or disguise) their loan structures.
    Apr 26, 2014. 03:15 PM | 1 Like Like |Link to Comment
  • Government reportedly wants more than $13B from BofA over mortgages [View news story]
    I hate to be the one to tell you this - but both parties are connected to the Wall Street debacle. It didn't just start with Bush or Obama. Deregulation goes back to Reagan and Clinton. Neither party has handled the corruption very well. And if you look at financial disclosure statements of Congress and the federal judiciary going back to 2006 they were loading up their portfolios with bank stocks and mutual funds ...just a bit of conflict, appearance of improprieties and the inability to properly protect investors for fear of losing their own portfolio investments.

    Add the Wall Street lobbyists to the mix - and you create a complete mess and no guts to fix it. BTW - the whole mess is patented and if you study the links in the software process you can see that, yes... it's all linked so maybe they all are criminals of sorts - they've just made it legalized corruption.
    Apr 24, 2014. 04:58 PM | 5 Likes Like |Link to Comment
  • Wells Fargo May Just Be The Best House In The Money Center Banks Neighborhood [View article]
    Ahhh... C'mon guys... Are you serious or just baiting me? First it was BofA that was crucified, now it's Chase... It's just a matter of time and WF is being hit with one lawsuit after another. If you are still holding bank stocks then you are not following Congressional politicians or federal judges who are unloading stocks like nuclear waste... Just check out JudicialWatch and OpenSecrets for financial disclosure statements - look back to 2008 to present... Obvious changes 'cause they already know what you should know.
    Apr 13, 2014. 01:51 AM | Likes Like |Link to Comment
  • Bank Of America: Go Home Mr. Market, You're Drunk [View article]
    The TBTF created a mess that they cannot climb out of. It's the banks that have been drunk and delusional - the market partied with them but it looks like it might be coming to it senses (or in rehab). There are said to be $300-$600+ TRILLION$ in worthless securitization transactions. The Fed can't keep buying up the bad deals (well, they could but that puts the economy at an even greater risk). Elliott Ness isn't running the country so there are no indictments - just mediocre fines, penalties, suicides and settlements as they continue to do business under the same design which is all patented in the USPTO... as if to make it appear legal.

    If we want to see some stability and growth, CONFISCATE THE PATENTS!
    Apr 11, 2014. 02:29 PM | Likes Like |Link to Comment
  • The Financial Crisis Is Over For Wells Fargo Dividend Investors [View article]
    It certainly won't be in bank stocks.
    Mar 31, 2014. 02:14 PM | Likes Like |Link to Comment
  • The Financial Crisis Is Over For Wells Fargo Dividend Investors [View article]
    Aretailguy - apparently you have no idea of the role(s) WFC plays in securitization. Whether as an originator or a trustee in one of the rigged securitization trusts - WFC plays a major role. It appears the mortgage loans were never assigned to the trusts. Not only were the LIBOR interest rates rigged, the patented underwriting guidelines systematically relaxed and the bonds overrated... The trusts (bonds) were empty and that's why the investors (pension and retirement funds) are suing the banks.

    The big boys were all in this together. Now, let me tell you about the pension funds - WFC, just like BofA, Chase, Deutsche Bank, Citibank, ML, Lehman, Morgan Stanley, etc. sucked the pension funds up into this rigged system. Pension funds are monies that the "cops and firemen" (that you so willingly throw under the bus) paid into the system during their employment... just like people pay into mutual funds and 401ks and these are also at risk (that's why there were layoffs at Mereck, Xerox, etc). The monies belong to the employees. I suppose you think your savings account is actually owned by the local government or better yet, the bank to do with whatever they like - no matter how risky or corrupt?

    Do your homework - don't think haircuts like Greece and Spain can't happen here to average people like you.
    Mar 31, 2014. 02:00 PM | Likes Like |Link to Comment