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Thanks to the alert from a new friend who will be posting here soon, it has come to my attention that if you ask for the closing documents AFTER the closing, you will often get the escrow instructions and if you, don’t get those instructions , you cna ask for them specifically.

The interesting thing is that it identifies the bank from which the funds were wired in, the account number, routing and transit and instructions on where to send any excess funds should it turn out that the money they sent was too much.

The significance of this is that the funds will be identified as NOT coming from payee on the note or the beneficiary on the deed of trust or the mortgagee on the mortgage. It corroborates that the read lender was intentionally not disclosed even though the closing agent and others knew who was paying. It also corroborates the argument that the “lender” at closing was a straw-man providing a fee based service for the real creditor to hide the identity of the true creditor contrary to the requirements of disclosure in the Truth in Lending Act and other statutes, rules and regulations concerning closing residential loan transactions.

If the note, mortgage and/or deed of trust do not disclose the principal then the issue is whether the deal recited in those documents ever actually took place. Signing it doesn’t mean the transaction occurred. It means that was the intent of the parties but not that it actually happened. If the monetary transaction actually took place between the borrower and a bank that was not named at closing in any documents perfecting the liability or the security then the lien is not perfected and is unenforceable as afar as I know in most states.

Tags: borrower, disclosure, escrow instructions, foreclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, real creditor, real lender, real party, rescission, securitization, standing, trustee
Posted in bubble, Corruption, Eviction, securities fraud |