That’s what an Alameda County Superior Court judge said last month about our lawsuit against our mortgage brokers and lenders. The judge agrees with the defendants that forging and backdating of a loan application, although it could be a criminal act, and concealing that fact and other information from the borrowers, does not give the borrower recourse in civil court.
This blog will discuss how we got to this point and just how crazy this whole thing is. How the government and the courts claim to care, but if they did we would not be having to fight the way we are to get justice when there was clear fraud. Why would someone forge and backdate your loan application and fail to provide all the required disclosures during the loan process when they were legally required to do so? Because they wanted a fat commission on the sale of the mortgage loan. If they had been honest, the deal would have fallen apart, denying them their fat cut of the action.
As you will see, the mortgage industry was, and still may be, a fat swine, eating borrowers and defecating worthless crap to sell to ignorant investors, getting fatter with each deal. Lehman Brothers, Countrywide and the other purveyors of this excrement knew exactly what they were doing, and still none of them are in jail. After chasing our mortgage story we can tell you the incredible truth that they do not know where your mortgage note resides, and the courts do not care. If there was fraud is was just a normal part of business and no reason for anyone to go to jail.
As our late friend Jane Powell said, “200 years of property law straight down the tubes.”