Call for Help: Livinglies Readers Need Special Assistance or Information

1. WORLD SAVINGS BANK: Yes we know the whole story with Wachovia, Wells, “60 minutes” etc. from our October 11, 2009 post. But we have not been able to penetrate to the real facts here since the quality of the loans appears almost certainly to have been funded with OPM (other people’s money) which means it was securitized in some way but the published facts seem to indicate the reverse. Send your info to neilfgarfield@hotmail.com

• ANSWER FROM DAN EDSTROM ON OUR STAFF: The answer is YES World Savings Bank was involved in securitizations.  I have found 14 of them but there are probably at least 25.  The first 15 were from 1999 to 2004.  The peak was 2005-2006 so you could well imagine that number could be much higher.  These were all private placements (Rule 144/A) so they were not registered with the SEC.  Have a look at the attachments.  As far as I know the only way to peak inside any of them would be through discovery.  However, I have found some of the certificateholder statements for World Savings Remic 14 (also attached).  No loan level data is available that I could find (which would connect a borrowers loan with a REMIC). Known World Savings Bank Securitizations

• Hi Neil, Hope you will be OK and best of your health. The address shown below on various trusts is the same as of DEUTSCHE BANK National Trust Company (DBNTC)

• ANSWER FROM READER: I have an original ‘World Savings Loan’ on an 8-unit apartment building. The loan is now in the paws of Fannie Mae. We are CURRENT on the blasted loan but we are being HARRASSED no END! We had been behind but brought the mortgage current. Now they admit the loan has been ‘reinstated’. HOWEVER: they want an agreement signed that would basically have us give up any and all rights. It would hold the lender harmless for not only PAST deeds, but also for anything they might do in the FUTURE!

1. RESIDENTIAL FINANCE: We are positive that with the these loans now in the hands of Citi and knowing that the originator was not a bank, that these loans were securitized. But we can’t come up with anything on it and we have some people who have a common problem here.

2. FIRST UNION: In Charleston and other cities, this Bank was subsequently acquired by Wachovia and the of course Wells. It looks and smells securitized but we can’t find the actual evidence.

It’s true that it OUGHT to be the other side that proves up the information to show they own the loan, and it is also true that it OUGHT to be the available through discovery in litigation. But the pretender lenders and lenders stonewall and the Judges let them do so. Thus if you want to make your point, you need to go deeper than making an allegation and actually show as many facts as possible to support your position at the beginning of the case. Yes this is contrary to what I think is due process but it’s reality.

Anyone with information on these entities please write in to neilfgarfield@hotmail.com.

Posted in bubble, Corruption, Eviction, securities fraud |