What is a REMIC Trust? Do they exist?

Sep 8, 2022

A REMIC trust is an acronym for Real Estate Mortgage Investment Trust. The problem, as we shall see here in this article, is that no such entity exists in most cases. That, in turn completely undermines claims by the lawyer representing the foreclosure mill, the claims asserted allegedly on behalf of the so-called REMIC TRUSTEE, and the claims (authority)of the Master Servicer, the “servicer,” and the “subservicer” all of whom claim powers derived from REMIC trusts, which do not exist.

Elements of a trust agreement without which there is no trust:

A written agreement containing term, and rules of the trust — i.e., how ot handle the “thing” (res) entrusted to the trustee ot manage for the benefit of beneficiaries.
Settlor or trustor who owns an asset (i.e., paid for it or received as gift)
Res — the thing entrusted to a trustee
Trustee — with statutory trust powers and obligations (state statutes)
Beneficiaries are identified or described with precisions, even by reference to another document. Note: the presence of a beneficiary — either named or described does not mean that the “loan” (if it exists) has been entrusted to the trustee or that the beneficiary has any interest in it. For example. Investors in REMIC trust certificates are often erroneously referred to as beneficiaries. They are not. They are creditors of an investment bank dba [name of rem ic trust].

I would also offer my considered opinion that it is impossible for a trust to exist if the named trustee is required to delegate all duties of a trustee (required under statute) to a third party (servicer). That simply is not possible and defeats the entire purpose of having a trust.

Hence, I think no such trust exists, even if it is named or registered somewhere. It is all relative.

Even a valid trust does not exist (i.e., is not relevant) as to an asset that has never been conveyed to the trustor for the benefit of identifiable beneficiaries. Merely saying or arguing that it exists does not make it so. If things worked that way, I would argue that I am the world’s leader and the richest person in history, along with my ability to fly faster than light.

And remember that uploading to the SEC site is not registration. The only way to create a trust is to comply with the applicable state law that sets forth requirements for creating a valid trust with ownership of certain assets conveyed by the trustor/settlor. And the only way that trust can do anything in your state is if it has complied with the laws of your state as to doing business, suing, and defending actions.