Watch out for the discrepancy between enforcement of a note and enforcement of an encumbrance. Enforcement of the note requires proof that the claimant is the owner of the debt, or has been authorized by the owner of the debt to enforce the note. Enforcement of the mortgage requires that the claimant be the owner of the debt. Judgment on the note can be rendered based upon legal presumptions arising from the UCC as adopted …
What is clear to me is that nothing has changed except the government complicity in predatory lending practices is increasing despite the passage of Dodd Frank. A fact that keeps getting buried here is that Federal Law (Truth in Lending Act) puts the burden of determining affordability of an alleged loan product on the lender, …
The UCC is not ambivalent about protecting both the maker of a negotiable instrument and the party seeking to enforce it. The maker does not assume the risk of double liability except for instances where the note is purchased for value in good faith and without knowledge of the borrower’s defenses. In all other circumstances …
Just because an instrument is not self-authenticating doesn’t mean it can’t be authenticated. Here the Plaintiff could not authenticate the note without the legal presumption of self-authentication and all the legal presumptions that follow. And that is the point here. They came to court without evidence and in this case the court turned them away. …
Fla 2d DCA: HELOC Instrument Not Self-Authenticating Article 3 Note Read More »
Posted by Bill Paatalo on Dec 14, 2017 https://bpinvestigativeagency.com/why-are-the-oregon-courts-ignoring-its-own-rules-regarding-the-surrender-and-tender-of-original-negotiable-instruments/ This is the Oregon Uniform Trial Court Rule regarding the surrender of negotiable instruments before the entry of a judgment. Oregon is typically a non-judicial foreclosure state. However, the bank servicers have been increasingly choosing to go the judicial route. My sources are telling me that …
The assumption that the Judge already knows the facts and the law is what drives lawyers into defeat. The Judge is not required to know anything, and is actually prohibited from taking an active role in favor of one party or the other. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. …
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By Collete McDonald Editor’s Note: Ms. McDonald hits the nail on the head with this article. You should incorporate it word for word in any relevant memoranda. Why is this important? Because most of the “notes” (assuming they were the real notes and were timely indorsed and not back-dated) are presented as having been indorsed …
Editor’s Note: 180787_86_opinion Lehman My reading of this report is that the underlying principle of the ADDITION of conditions and co-obligors changed the homeowner’s note from being negotiable to non-negotiable. This decision doesn’t say that but the underlying reasoning leads me to believe that we are on the precipice of a paradigm shift in the way …
Bankruptcy Judge Invalidates Securitization Payment Structure Read More »
“The note is often produced at some point in the litigation, but the real problem is, how did they get it? When did they get it? And did the transfer of ownership comport with federal and Florida law for the transfer of such negotiable instruments?” In cases that are dismissed based on these arguments, foreclosure …
Lawyer's foreclosure defense of 'quiet title' faces tests Read More »
QUESTION: I needed to know what the following means, from my Trustee’s Deed Upon Sale … specifically the last part that reads “as Trustee for Mastr Adjustable Rate Mortgages 2004-15, Mortgage Pass-Through Certificates, Series 2004-15“. JP Morgan Chase was my Lender prior to my last re-fi in September 2004, which was done thru RBC Mortgage …
We’ve received a few questions regarding the impact of the “takeover” of Fannie Mae and Freddie Mac by the Federal government. These were chartered by congress as opposed to any state and it is questionable whether anything has actually changed except for management personnel and style. They were theoretically private corporations with their common stock …
Fannie Mae and Freddie Mac: Holders in Due Course? – NO Read More »
