NEW JERSEY REPORT DETAILS LPS CREATION OF FALSE DOCUMENTS

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WERE ORIGINAL MORTGAGE DOCUMENTS FALSE OR FRAUDULENT?

YES — at least that’s my opinion and the the opinion of a growing body of legal experts. Any property lawyer will tell you that you can fix any chain of title using the proper methods — getting a signature to correct something that was wrong, getting a court order or affidavit from a competent witness, etc. The idea is to make it as easy as possible to correct improperly written or improperly executed documents to reflect the real deal that constituted the transaction.

So why would the mega banks start their own document fabrication and forgery operations when there is a perfectly legal way to correct “paperwork” problems? If there was a real transaction in which money changed hands, it is easy, especially in today;s digital world, to establish the trail of money, put the transaction in context and then either solicit the appropriate parties to sign corrective instruments or force them to do so by court order.

And sure enough there was a real transaction in which money changed hands. No borrower denies it. So why the fabricated and forged documents? ANSWER: BECAUSE NO THE INVESTOR-LENDER WHO ADVANCED THE FUNDS NOR THE BORROWER WILL SIGN ANY CORRECTIVE INSTRUMENTS. WHY YOU ASK? BECAUSE THE CORRECTIVE INSTRUMENTS DO NOT DESCRIBE THE TRANSACTION BETWEEN THE HOMEOWNER AND THE INVESTOR. In order to force the homeowner and the investor to take the deal and lose money on it, the securitizer pretenders would need to show that the transaction they are seeking to “correct” actually existed. But it didn’t.

The investors and borrowers are not suing because the deal didn’t turn out the way  they wanted. They are suing because the real deal was not disclosed to them and they never would have signed papers on either end of the deal.

Start with the “mortgage originator” who in the world of the illusory infrastructure of securitization is distinguished from lender, beneficiary or mortgagee. Here is an entity that has no money, lends no money, and in substance never even handled the money for the funding of the transaction except possibly through their wire transfer department if they were an actual bank. The so-called trusts, were not formed under New York law and the Trustees took great pains NOT to include these trusts within their “Trust Department” that they use ordinarily for the administration of trusts.

Move on to the inflation of the appraisal, the borrower’s income — often without knowledge or consent of the borrower, and you have a deal that nobody would do if they knew what was going on — which is why the securitizer pretenders CAN’T go to the investors and CAN’T go the homeowner and ask or demand that they sign corrective instruments.

AND THAT LEADS TO DEFECTIVE TITLE WHICH WILL HAUNT US FOR DECADES. Wall Street’s efforts to buy or start title companies is only another part of the cover-up. The inescapable conclusion when you look at the money trail and compare it to the documents, is that they don’t match. The unavoidable conclusion is that they were not intended to match — meaning there was fraud in the inducement and fraud in the execution of documents.

LOGIC and common sense bring us to this: the money trail is NOT reflected by any existing document. It never was and it can’t be now. The document trail, pretends to follow an illusory transaction trail in which no money changed hands — hence it is a bunch of documents in support of non-existent monetary transactions. The mega banks can’t correct it without admitting they lied to the investors and lied to the borrowers — because out of necessity, any corrective documents would change the deal completely. So ordinary forms of correcting legal instruments and recorded instruments are simply not available. They have no choice but to keep lying and fabricating and forging.

It won’t be long now before Judges and lawyers and homeowners realize the truth about their so-called mortgage loans. They are a fiction. The money trail leads to a single transaction between the investor-lender and the homeowner without any documents. The government’s attempt to use servicers to modify the mortgages failed because they were asking the fox to negotiate over who would get the eggs — and the chickens for that matter. WRONG WAY AND WRONG PARTIES.

It may therefore be fairly stated that ALL of the more than 80 million “mortgage” transactions that were documented at “closings” were fatally defective, unsecured and involved parties who were not involved in the actual transaction. $13 trillion in transactions went south because the investors were tricked by deception and because the homeowners were tricked by deception. Following the money trial will reveal that much of the money advanced never went to fund mortgages but was shunted off-shore as fees in “off-balance sheet” transactions amounting a yield spread premium that could only be described as fraudulent, inasmuch as the word “excessive” is inadequate to describe it.

FIRING SERVICERS AND TRUSTEES IS THE ONLY SMART STEP FOR INVESTORS

It may therefore fairly accurately be described as an economy that appears to be flipped but actually is not. Since none of the actual transactions were liens or encumbrances upon the real property, the original owners still own them. If the investors want to “settle” their claims with the investment bankers, that is fine. But if they want to recover more of the money that was stolen from them, they should probably work out a deal wherein homeowners are allowed to keep or re-take their homes under normal and reasonable terms. If investors want to maximize their recovery and minimize their damages, they need to exercise their right to fire the servicers, trustees, and others who are feeding off of their money.

Tags: appraisal fraud, borrower, disclosure, FLASE DOCUMENTS, foreclosure defense, foreclosure offense, fraud, investors, LPS, New Jersey, predatory lending, rescission, securitization, servicers, TILA audit
Posted in bubble, Corruption, Eviction, securities fraud |