MSE News: Buy-to-let borrowers hit by West Brom mortgage hike

Lewis_Ranieri

Landlord - my statement is correct, I did not say [Text removed by MSE Forum Team] was prosecuted, I said his firm was shut down for mortgage fraud.


2 brokers did go to prison.


Similarly in this money sucking exercise he is misleading Mortgagors but not fully presenting them with the FACTS. Any Bank is allowed to hike an interest rate, period. That pure FACT stems from the Power of Attorney contained within any Mortgagors Terms and Conditions.


Those are FACTS.


All the peripheral story concocted in the [TEXT DELETED BY FORUM TEAM] Claim against West Brom is irrelevant.


The Bank knows this.


Being firmly on the side of Mortgagors, all of whom are handing over vast sums of money to [TEXT DELETED BY FORUM TEAM], I would advise seeking a second opinion from someone who is independent and has full knowledge of The Power of Attorney clause - that won't be a Lawyer either, it's not in their interests to educate people.

Mark_Alexander

Lewis_Ranieri wrote: »

Landlord - my statement is correct, I did not say Mark Alexander was prosecuted, I said his firm was shut down for mortgage fraud.

That above comment is also libellous, for the real facts please search Google for "Two mortgage brokers jailed for £28m B2L fraud"

Along with 300 other people I was a victim of fraud, NOT the perpetrator.

Please note that Lewis Ranieri is posting under a pseudonym, I am not.

The real Lewis Ranieri is considered the Godfather of mortgage securitisation - see Wikipedia.

(Text removed by MSE Forum Team)

He was made bankrupt my a mortgage lender when his business failed. He attempted to represent himself in Court having pieced together several stories of other conspiracy theorists. He is now obsessed with these conspiracy theories.

He thinks anybody who disagrees with him is part of the worldwide conspiracy and seeks to discredit them.

Given the circumstances Property118 moderators simply chose to ban him from posting on our forums.

(Text removed by MSE Forum Team)

He has wasted significant amounts time of some of the worlds leading academics, including an economic professor at Cambridge. This is not to mention the hassle he has caused for anybody he considers to be a centre of influence.

His arguments are nothing more than twisted and regurgitated conspiracies and will often lead back to economics which is a social science given that’s the true foundation of money. His core argument is that money isn’t real and he’s right about that of course. It is, however, the accepted economic measuring stick used by the educated world.

Mark_Alexander

Lewis_Ranieri wrote: »

Being firmly on the side of Mortgagors, all of whom are handing over vast sums of money to Mark Alexander, I would advise seeking a second opinion from someone who is independent and has full knowledge of The Power of Attorney clause - that won't be a Lawyer either, it's not in their interests to educate people.

No client money has been handed over to me. It is lodged in an escrow account with the Bar Council "BARCO".

AGBAGB

Well said Mark

After doing my own due diligence I had no quarms about joining in the action. It's is the one chance I have of fighting back against a bullying lender.
For anyone else thinking of joining who has any concerns ask here or on the property 118 forum and do your own research. I'm sure you'll come to similar conclusions to myself and the hundreds of others that have gone through a similar process.

dturner451

Lewis


What is your motivation for wanting to stop people joining P118?


You seem to want to tell everyone about the PoA . You say the P118 case is missing this.


You state that the Banks don't want us to know about this.


But then you seem to suggest that when we go to Court the WBBS will pull this out and we will lose our case.


If they do , then surely the banks will have to tell us of the PoA?


Wouldn't this be to your interest ?


You do not seem to have a financial interest in this at all, so why are you so keen on trying to stop it ?


What has happened to you that makes you so concerned ? You say you want to protect the borrowers. What would you have us do instead of joining the P118 action group ?


We have taken advice from more than one Barrister and chosen Mark Smith.


Why do you think he and [Text removed by MSE Forum Team] would run off with our £480000?


They do not hold that money. It is there to pay the legal fees of the other side should we lose. Why would either of the Marks want to go to all this trouble to pay WBBS legal fees.


Mark Smith is on a certain fee. He is a barrister. Why would he want to put his lively hood in jeopardy for what to him would be a relatively small amount ?


If you think they are going to split and run with our £480000 , do you really think that's enough to change either of their lives ? What about Marks partners ? Are they in on it too ?


By the time its all divided up it would not be worth putting themselves at risk of any criminal proceedings.


I do not think for one minute our situation is cut and dried, but this is the best chance we have of getting justice.


I would love to know what drives you ?




Dean

rate_hike

Lewis your comment on BoI forum stating I,m [Text removed by MSE Forum Team] is incorrect.

Lewis_Ranieri

Hi Dean


I have copied your questions for speed and will answer directly below, thanks for the brevity and balance of the questions.


What is your motivation for wanting to stop people joining P118?
Nothing wrong with joining any Forum. However, Forums that Act as a hoover, charging fees, leading people with false hope I find morally abhorrent.

You seem to want to tell everyone about the PoA . You say the P118 case is missing this.


Indeed Dean, the POA is the absolute pivot any Bank will use to do anything in your Name. That includes jacking up rates as they see fit to Service the SPV Contract they have behind the scenes which you are not party to. The POA is vital. That is why this Claim will fail. My concern is for the Mortgagors placing false hope in this Action. My concern is also that any mention of the POA is vehemently attacked by [Text removed by MSE Forum Team], thrashing about with his usual nonsense of Libel Actions. He threatens anyone who exposes him.


You state that the Banks don't want us to know about this.


Of course not, nor does [Text removed by MSE Forum Team] or your Conveyancing Solicitor. The Bank relies on this Clause to do as it please and laugh in your face because you are allowing them to do as they please via the POA. It has nothing to do with any other Clause in the T and C's, period.


But then you seem to suggest that when we go to Court the WBBS will pull this out and we will lose our case.


Absolutely not, they will not expose themselves, nor will Mark Smith raise it. It's the Golden Egg. Check NewEra vs Investec in south Africa, 135,000 in a rep action. They won, why? They exposed the POA. The case will send shock waves through the global financial sector because it exposes the links between commercial banks and the SPV's - only permitted via the POA. If the Bank could not sell your Mortgage Notes, it would be stuck with them, that is not their game.


If they do , then surely the banks will have to tell us of the PoA?


They already have via the T and C's in writing, it's just that people do not read them and Lawyers avoid talking about it like the plague because it opens up the whole can of worms about what the Bank has done with your Documents. Google Linda Green Robo sign US and see what you think of that information.


Wouldn't this be to your interest ?


Exposing the Bank in a truthful light 100 % yes, when this Claim fails, the banks will use it as Case Law to jack up Rates even higher, hiding behind this Case. The POA will be further buried as the reason behind what West Brom are allowed to do.


You do not seem to have a financial interest in this at all, so why are you so keen on trying to stop it ?


Because my colleagues and I are working on Truth, we do not get paid. When we see a blatant misrepresentation or omission of FACTS that could have catastrophic effects for Mortgagors, it's our duty to inform people of what is really going on.


Nothing wrong with rep actions - check Miriam Freeman vs Bank of Scotland - that case is going to full trial over this very issue. Check Stewart's Law, their case vs RBS.

What has happened to you that makes you so concerned ? You say you want to protect the borrowers. What would you have us do instead of joining the P118 action group ?


I have been defrauded by around 30 financial institutions, that's why I am concerned. I would put firm questions to Mark Smith as to why he has repeatedly threatened anyone exposing the holes in the Claim. I would sack Mark Smith, appoint someone who will fill in the blanks and forge ahead with the Claim. The principle of any rep action is brilliant, as is this, however you are going into battle with a defunct skud, someone has purposefully missed out the launch code. I know people who have had off the record meetings with West Brom, the Bank is revelling in this. Mark Smith - distinguished career in Banking Finance? Name me one big knock-out vs a Bank?


Advise you all to check your T and C's, put the question to [Text removed by MSE Forum Team], insist it is dealt with within your Claim and in Parliament. Then you will win in my opinion.


Read the Carmel Butler report to Parliament to give you an understanding of what the POA enables Banks to do on your behalf.


I offered Alexander my help, he declined it and proceeded to threaten and insult me, and other websites for allowing my discussion. What does that tell you?


We have taken advice from more than one Barrister and chosen Mark Smith. Indeed you may have, they all belong to the same club. Try taking it from someone who will explain the POA to you.


Why do you think he and [Text removed by MSE Forum Team] would run off with our £480000? I don't. He'd end up in prison.


They do not hold that money. It is there to pay the legal fees of the other side should we lose. Why would either of the Marks want to go to all this trouble to pay WBBS legal fees.


Mark Alexander is being paid by Cotswolds as handsome amount of expenses. It's what Lawyers do, charge you.


Mark Smith is on a certain fee. He is a barrister. Why would he want to put his lively hood in jeopardy for what to him would be a relatively small amount ? Not saying he would, but he stands to make a small fortune from repetitive class actions. The Bank do not mind, he's missed out the firing pin and they will know it.


I turn up with the firing pin in my hand and look what happens?


If you think they are going to split and run with our £480000 , do you really think that's enough to change either of their lives ? What about Marks partners ? Are they in on it too ? I have never indicated this.


By the time its all divided up it would not be worth putting themselves at risk of any criminal proceedings. Never stated they would.


I do not think for one minute our situation is cut and dried, but this is the best chance we have of getting justice.


No it is not, with all due respect. How many of you have had direct experience in Court up against a bank? You have a better chance, expose the POA.


I would love to know what drives you ?


Truth and decency, helping Mortgagors, I despise lies, deception, misrepresentation and fraud in any form it takes.


I hope this helps Dean?

Lewis_Ranieri

[Text removed by MSE Forum Team]


ah right perhaps rather than making spurious claims that are unfounded, you would like to engage in a technical discussion on Mortgages and your Claim?


We are very much interested to note your comments on the Legal Terms contained within the WBMC T and C's.


Nobody is interested in your nonsense about conspiracy theories, they are however interested in Legal matters such as why your case has the vital component missing.


Do you want to explain in Public why you have omitted the POA detail form your claim to enable WBMC to be nailed to the wall?

Lewis_Ranieri

Simply responding with threats and nonsense will not wash so keep it technical and directly related to Mortgages T and C's if you possibly can?

rate_hike

If POA is the so called golden egg to win in court why then would Mark S not mention it then ?? in court