Category: MBS Trustee

Why the UCC Matters in Foreclosure Cases

April 5, 2022

The problem as illustrated by many scholarly articles and articles on this blog is that courts are given to treat plaintiffs and claimants as holders in due course without anyone asking them to do so. The first thing you need to know about Foreclosure is that it is only about money. If you have the money and you pay it, there is no claim — or at least no claim against you. You might have a claim against a “debt collector” seeking to enforce a nonexistent debt for a nonexistent claimant. The second thing to remember is that, by definition,

Western Progressive LLC is named as Trustee or even Attorney on many forms, notices and recorded documents in foreclosures. Who is this Luxembourg LLC and Why do all paths lead back to Ocwen?

February 7, 2022

why such a company would ever be seen as a qualified party to (a) serve as a trustee on a deed of trust (b) make any claims whatsoever and (c) allow its name to be used by FINTECH service providers operating under contract with Merrill Lynch and its “successor” Bank of America. This is especially true because there is no beneficiary who executes the Subsitution of Trustee and no beneficiary named that is qualifeid as a beneficairy — i.e., the one to whom the udnerlying obligation is owed. And all this goes back to what I said somewhere around my

Wilmington Entities in Foreclosure

December 29, 2021

The “Wilmington” name shows up with what appears to be increasing frequency in foreclosures. The bottom line, in my opinion, is that whenever the “Wilmington” name appears in foreclosure cases, it is an attempt to launder title such that the lawyers who prosecute the foreclosure process can reasonably imply that he or she is representing a creditor who is one or more of the following — none of which are true in any respect, in my opinion, and no evidence has ever been produced to support these premises: it is a holder in due course of a promissory note, It

Who gets a QWR or DVL and When?

September 21, 2021

LEARN HOW TO FIGHT WITH HONOR AND WIN! After some reflection, legal research and analysis I have come to the conclusion that a very good way for homeowners to put tracks in the sand that they can use later with success is to use the following protocol — subject to the opinion of local counsel: Send QWR and DVL to “servicer” and nobody else. Under statutes, service to one is service to all anyway. In cases where the creditor is either asserted or implied to be a bank as trustee for a REMIC trust, send a second QWR and DVL

EARLY BIRD DISCOUNT ON WEBINAR ENDS 9/22/21

September 16, 2021

APPROVED FOR 2.5 CLE CREDITS APPROVED BY THE FLORIDA BAR HOMEOWNER ATTENDANCE PERMITTED Live and On-Demand Available EARLY BIRD DISCOUNT ENDS 9/22/21 What to Look for in Examining an Assignment How to Successfully Litigate the Issues How lawyers can make money in this niche APON and GTC Honors, Inc. an approved host provider for CLE (for lawyers) credits in Florida and 26 other states that allow reciprocal credits for licensed attorneys announce that they are producing a seminar presented by Neil F Garfield, MBA, JD , trial lawyer for nearly 45 years and investment banker for 50 years. Only lawyers

How and Why to Litigate Foreclosure and Eviction Defenses

December 2, 2020

[contact-form][contact-field label=”Name” type=”name” required=”true” /][contact-field label=”Email” type=”email” required=”true” /][contact-field label=”Website” type=”url” /][contact-field label=”Message” type=”textarea” /][/contact-form] Wall Street Transactions with Homeowners Are Not Loans * I think the biggest problem for people understanding the strategies that I have set forth on this blog is that they don’t understand the underlying principles. It simply is incomprehensible to most people how they could get a “loan” and then not owe it. It is even more incomprehensible that there could be no creditor that could enforce any alleged obligation of the homeowner. After all, the homeowner signed a note which by itself creates an

Trusts, Trustors, Settlors and Fake REMIC Trusts

October 28, 2020

All trusts that are legally recognized as such have the following basic components: the trustor/settlor who (a) executes a written trust agreement and (b) conveys property into the name of the named trustee to hold and manage the conveyed asset(s) for the benefit of named beneficiaries. So the three basic components are (1) property (the res), (2) a trustor/settlor, and (3) beneficiaries. Pooling and servicing agreements when read closely reveal in all cases that they are missing all three components. * Trustees only exist in relation to a defined trust. A trust may technically exist if it is written down

More Details on VendorScape, CoreLogic and Black Knight

October 13, 2020

Hat tip to “Summer chione” So it is apparent that the banks are responding to discoveries about how orders are transmitted to lawyers, “servicers”, realtors etc.. While it is all the same playbook, they merely change the name of the characters. So internally the name VendorScape might still be used but externally, to the public, they are showing different names and even showing multiple names for the same “service”. But is always the same, to wit: a central repository of data that has been robotically entered to support misrepresentations of investment banks that massage the data, control the reports, and

Gary Dubin, Esq. Scores Another Victory for Homeowners in Hawaii in Notorious LSF9 Case

August 4, 2020

More kudos to Gary Dubin who keeps producing favorable decisions for homeowners. This ruling is important for a variety of reasons. This time it is all about the rules of evidence and legals tanding to even bring the claim. see US Bank LSF9 v Verhagen 7-20-20 * The first reason is that it presents a court of appeal that drilled down on the actual facts rather than the presumed facts. This is a substantial departure from prior judicial practice. I think it reflects a change in judicial attitude. While nobody is willing to say that these foreclosures are entirely fraudulent, The suspicions and

It's Not a Default If You Stop Paying — Unless Someone owns Your Debt and Can Prove Financial Loss

July 27, 2020

NOTE: BE AWARE THAT WELLS FARGO AND OTHERS MAY HAVE PUT YOUR TRANSACTION IN A FORBEARANCE PROGRAM WITH UNKNOWN TERMS. ======== I think that the banks have unfairly benefited from assumptions regarding the connection between the cessation of payments by homeowners and the existence of a default. * I think that there are elements of a default that we have never had to think about before. * The first element, in my opinion, is that somebody must have suffered a loss or injury * The second element is that the loss or injury must be the approximate result of a breach of Duty * The third element is that the Duty

How did Wall Street make all that money on "securitization."

July 13, 2020

Servicers did not make any advances. They never did and they never will. They said they did but they didn’t. If you read the prospectus carefully you will see that the money from investors is divided into three parts. * The first part is the purchase of a certificate that promises payments to the investor based upon a formula that is independent of any homeowner debt, note or mortgage. It does not commit the Investment Bank to using the funds in any particular way. But the payments are partially indexed on the performance of an arbitrarily chosen group of loans

HELOC Securitization Analysis — Why Are There Two "wet ink" Signatures? What Rights Does MERS Possess?

June 25, 2020

“a transfer of the mortgage without the debt is a nullity, and no interest is acquired by it” “because MERS was never the lawful holder or assignee of the notes described and identified in the consolidation agreement, the corrected assignment of mortgage is a nullity, and MERS was without authority to assign the power to foreclose to the plaintiff. Consequently, the plaintiff failed to show that it had standing to foreclose.” The writer of this article shall remain anonymous. He sent me the following. I concur with his analysis: I came across your June 17th post about the mortgage exec

Three Card Monty: Why is Pandemic Relief Going to Servicers? Why are they not claiming relief for REMIC Trusts? Will homeowner debts be reduced by Federal payments to “Servicers?”

April 27, 2020

https://www.nytimes.com/2020/04/21/business/mortgage-investors-coronavirus.html?referringSource=articleShare By failing to require a credit to homeowners when the Federal government makes payments on claimed obligations, the bailout is simply adding to profit of investment banks, servicers and foreclosure mills. They are eating their cake and having it too. Obligations are paid off but their claim against homeowners remains unchanged. Sign Petition to Change the rules to Protect Homeowners from Fraudclosure. Foreclosures are filed in the name of a named Trustee for a collection of words that is then treated as an entity. More specifically it is treated as a trust. Sometimes the foreclosure mill goes further and

Investors Were Not Injured By Non Payment from Homeowners. They Were Injured by Non Payment from Investment Banks

December 10, 2019

The trap door is thinking that investors were hurt by borrowers failing to make payments when in fact they were injured by brokerage companies not paying them regardless of how much money was being received and created. This trap door inevitably leads one into thinking that the money proceeds from a forced sale of property in foreclosure are being paid to investors. That is just not true. ===================================== GET FREE HELP: Just click here and submit the confidential, free, no obligation, private REGISTRATION FORM. The key to victory lies in understanding your own case. Let us help you plan for trial

Pump and Dump: When "Lenders" Have No Risk of Loss They Spend Millions Selling Defective Loan Products and Blame Borrowers

May 21, 2019

It’s easy to blame borrowers for loans that are in “default.” The American consensus is based upon “personal responsibility”; so when a loan fails the borrower simply failed. But this does not take into account the hundreds of millions of dollars spent every year peddling loans in the media and the billions of dollars paid as commissions and bonuses to those who sell defective loans to consumers. GET FREE HELP: Just click here and submit the confidential, free, no obligation, private REGISTRATION FORM. The key to victory lies in understanding your own case. Let us help you plan for trial and

What is the difference between the note and the debt? What difference does it make?

May 13, 2019

NOTE: This case reads like law review article. It is well worth reading and studying, piece by piece. Judge Marx has taken a lot of time to research, analyze the documents, and write a very clear opinion on the truth about the documents that were used in this case, and by extension the documents that are used in most foreclosure cases. Simple answer: if you had a debt to pay would you pay it to the owner of the debt or someone else who says that you should pay them instead? It’s obvious. Second question: if the owner of the

Stop Feeling Guilty — Be A Warrior

April 9, 2019

Shame is the reason why most borrowers don’t contest foreclosures. That shame turns to intense anger when they realize that they were used, screwed, abused and now they are targets in a continuing blitz to embezzle much needed money from their lives and from the financial system generally. The genius behind companies like Citi is… Deception by Branding. “Citi” is not a company, it’s a brand of a conglomerate of companies. Even its subsidiary “Citibank N.A.” is deceptive. First let’s dispel the myth that subsidiaries are equal to their parents. Not true, not even when they are wholly-owned subsidiaries. They

Beware of Magic Bullets

March 19, 2019

Departing from my usual format, there are a few things I want to say to people who are looking for relief from foreclosure and are hearing what they want to hear. ONLY A COURT ORDER CAN STOP A FORECLOSURE. THERE ARE NO EXCEPTIONS YOU CAN’T GET A COURT ORDER UNLESS YOU FOLLOW THE RULES AND THE LAW. NOBODY HAS EVER OBTAINED SUCH AN ORDER WITHOUT A PROLONGED COURT BATTLE. If someone tells you “just do this” they are partially or entirely wrong or worse. Like everything life is complicated and that includes litigation. Any thought you are entertaining that you

PTSD: A Breakdown of Securitization in the Real World

March 18, 2019

By using the methods of magicians who distract the viewer from what is really happening the banks have managed to hoodwink even the victims and their lawyers into thinking that collection and foreclosure on “securitized” loans are real and proper. Nobody actually stops to ask whether the named claimant is actually going to receive the benefit of the remedy (foreclosure) they are seeking. When you break it down you can see that in many cases the investment banks, posing as Master Servicers are the parties getting the monetary proceeds of sale of foreclosed property. None of the parties in the

Unworthy Trusts

March 12, 2019

The simple fact is that the REMIC trusts do not exist in the real world. The parties named as trustees — e.g. US Bank, Deutsch, BONY/Mellon — are trust names that are used by permission through what is essentially a royalty agreement. If you are dealing with a trust then you are dealing with a ghost. Discovery is the way to reveal the absence of any knowledge, activity or reports ever conducted, issued or published by the named Trustee on behalf of the “trust” or the alleged “beneficiaries.” Take deposition of officers of the named Trustee. Your opposition will try

Gary Dubin: Proposed Mortgage Integrity Act (MIA):

March 4, 2019

For ten years, Gary Dubin in Hawaii has been practicing law defending homeowners from foreclosure. He has preached his own version of how to combat foreclosure fraud. And he has practiced what he preached. I find his work enlightening and refreshing. So when I read his Proposed Mortgage Integrity Act (MIA) I decided to republish it in its entirety. Some of what he proposes is new but most of it, in my opinion, is a much needed tune-up of the wording of existing law. His article and proposals are extremely well-written, objectively stated, reasonable and necessary. In my opinion Dubin’s

Caliber and LSF9 Trust Example of Smoke and Mirrors

February 13, 2019

The lesson is keep your eye on the ball. The natural human reaction to an affidavit is to assume it is true. We assume that it would not be submitted if the lawyers knew it wasn’t true. And in most cases people don’t lie in affidavits. But they do mislead sometimes by leaving out context. And then there are affidavits and declarations fabricated, executed, filed and even recorded in foreclosure cases which are mostly lies and virtually all misleading. To reveal this you must take your time in reviewing the documents and affidavits submitted. They were created so that at

Why Fabrications? Why Forgeries?

February 11, 2019

In an increasing number of foreclosure cases, homeowners are going head to head with the lawyers who file claims on behalf of entities on the basis of fabricated and/or forged instruments that in many cases were also recorded in county records. Lawyers like Dan Khwaja in Illinois are getting clearer and clearer about it. They hire experts who understand exactly how the notes are mechanically created and the endorsements are not real signatures. The key question is why would the notes have been fabricated and forged when there actually was a closing and a note was actually signed? We’re talking

Facially Invalid Recorded Documents

January 30, 2019

The view proffered by the banks would require them to accept declarations of fact from potential borrowers without any indicia of truth or reliability. It is opposite to the manner in which they do business. Currently they have it both ways, to wit: for purposes of borrowing you must submit documents that are facially valid without reference to external evidence and which can be easily confirmed but for purposes of foreclosure, none of those conditions apply. As part of the the scheme of “securitization fail” (see Adam Levitin) banks, servicers and third party vendors have been creating, fabricating and executing