JUDGE JURY UPHOLDS BORROWER'S OBJECTION TO WAMU PROOF OF CLAIM

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SEE 111. Order Disallowing POC 1-1 filed by WAMU

It’s a stunning reversal by Judge Jury, in California Bankruptcy Court who had previously practically ridiculed securitization as a basis for any defense of the borrower or any claim by the Petitioner in bankruptcy court. In one proceeding I saw the green shoots of her understanding of the issues and some doubts as to the proffers by counsel for the Banks.

In this case, the Petitioner went after the threshold issues, filing an objection to the proof of claim and, after a hearing, WAMU was unable to demonstrate that it was a creditor or had any business asserting a claim. Instead of relying upon the representations of counsel, Judge Jury stayed with the law, and held the inability of WAMU to provide real evidence against them. The claim is now dismissed. It is not over yet, as they can come back in and try some other gambits but the well is now tainted.

Tags: bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
Posted in bubble, Corruption, Eviction, securities fraud |