Lie Exposed: Wilmington Savings Fund Society

The Truth About Wilmington Savings Fund Society (WSFS) and Fake Trust Names

Foreclosure filings often name powerful-sounding entities like “Wilmington Savings Fund Society, FSB d/b/a Christiana Trust as Owner Trustee of the Residential Credit Opportunities Trust III.”

Asking The Right Questions to Uncover The Truth

To fully understand this, our founding foreclosure defense attorney, Neil Garfield, Esq., starts his investigation by asking:

• Is WSFS really a trustee?

• Does Christiana Trust exist as a legal trust?

• Does Residential Credit Opportunities Trust III own your loan?

Neil discovered an uncomfortable truth: these names are designed to create the illusion of authority, not legal entities.

Why It Matters

Most homeowners assume if a “trust” is listed in foreclosure documents, it must be legitimate. But as legal analysis shows:

• WSFS is a bank—but if it isn’t taking deposits or making loans, it isn’t really functioning as one.

• Christiana Trust is just a DBA (doing business as) name for WSFS—not a separate trust.

• Residential Credit Opportunities Trust III isn’t a trust at all. It’s an LLC with a registration statement at the SEC, not a traditional trust with beneficiaries and assets.

This layering of names creates confusion, making it appear that a valid creditor exists—when in reality, no one is directly asserting ownership of your loan.

The Legal Dillema

To be a real trust, there must be:

1. A trust agreement (not just a Pooling & Servicing Agreement).

2. A trust res (assets) conveyed to the trustee by a trustor/settlor.

3. Identifiable beneficiaries.

Without these, the so-called “trust” is nonexistent. And if no trust exists, there is no creditor and no legal standing to foreclose.

When homeowners demand proof—such as trust accounts showing assets—the foreclosure mills come up empty.

Why are WSFS and Similar Names Used?

These long, confusing names serve one purpose:

• To create plausible deniability for foreclosure claims.

• To act as a shield and a sword for investment banks, allowing them to foreclose while hiding in the background.

• To confuse courts, homeowners, and even attorneys into assuming a valid trust relationship exists.

In reality, the lawyers filing foreclosure cases rarely have direct contact with WSFS or any trustee. They receive data electronically from unknown sources and act without verified instructions.

How Can Homeowners Fight Back?

Here are key strategies to expose the truth:

• Demand discovery of trust accounts and proof of ownership of the underlying debt.

• Challenge standing by questioning whether the trust legally exists or owns the loan.

• Object timely in court to lack of foundation and hearsay when servicer records are introduced.

• File quiet title actions when payoff demands are ignored or when fraudulent assignments surface.

Remember: a name on paper is not proof of ownership.

The Bottom Line

Entities like Wilmington Savings Fund Society d/b/a Christiana Trust as Trustee of Residential Credit Opportunities Trust III are often ghost claimants—names without substance. They rely on confusion, intimidation, and deep pockets to push foreclosures through. But with the right defense, their lack of standing can be exposed.

Take Action

Yes, you DO need a lawyer. Don’t let a fake trust name take your home. Get experienced help now.

Call us today at 844.583.5339
Submit a free case registration and get a complimentary recommendation on your best course of action.

Foreclosure Defense Disclaimer

Foreclosure defense is complex. There is no guarantee of results. Success depends on litigation strategy, objections, and discovery. Foreclosure mills will fight hard to wear you down—but properly challenging servicers and “trustees” can delay or defeat wrongful claims.

Tags: Wilmington FSB Foreclosures, Wilmington Savings Fund Society, WSFS
Posted in Corruption |