Reynaldo Reyes, VP asset Management for Deutsch Bank said it best. "It is all very counter-intuitive." The borrower naturally assumes that the loan contract is complete when the money hits the closing table. Offer, acceptance and consideration --- all the basics of an enforceable contract appear to be present. The borrower assumes the money was loaned by the party whose…[...]

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Many judges in foreclosure actions continue to rule that the securitization documents are irrelevant. This would be a correct ruling in the event that there were no securitization documents. Otherwise, the securitization documents are nothing but relevant. There are three scenarios in which the securitization documents are relevant:  The party claiming to be a trustee of a trust is claiming…[...]

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Tags: Assignment and ASsumption Agreement, default, evidence, Pooling and Servicing Agreement, relevance, SECURITIZATION DOCUMENTS, Servicer advances
Posted in Corruption, evidence, foreclosure defenses, Modification, Pleading, Servicer |

THEY ARE ADMITTING THEY DIDN'T PAY FOR THE LOAN THIS CORROBORATES THE ALLEGATION THAT THE TRUST WAS UNFUNDED IF THE TRUST WAS UNFUNDED IT COULD NOT HAVE ORIGINATED OR ACQUIRED THE LOAN In situations where the alleged REMIC Trust is the party initiating foreclosure, you will find in most instances that they are alleging that they are the holder. The…[...]

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Tags: accleration notice, amount due, end of month statement, evidence, HDC, HOLDER, holder in due course, Notice of Default, offset, PSA, reinstatement notice, relevance of PSA
Posted in Corruption, discovery, evidence, expert witness, foreclosure defenses, Modification, Pleading, securities fraud, Servicer |

Hat Tip to Beth Findsen who is a good friend and a great lawyer in Scottsdale, Az and who provided this case to me this morning. I always recommend her in Arizona because her writing is spectacular and her courtroom experience invaluable. This case needs to be analyzed further. Robert Hager (CONGRATULATIONS TO HAGER IN RENO, NV) et al has…[...]

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Tags: 9TH CIRCUIT COURT OF APPEALS, Bosco, damages to homeowner, findsen, Hager, MERS, quiet title, slander of title, splitting note and mortgage, Stauffer, wrongful foreclosure
Posted in Corruption, discovery, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Pleading, securities fraud, Servicer |

I am suggesting that the burden of proof for an HDC is different from the burden of proof for a holder with rights to enforce. The burden of proof in any case is to prove the elements of the case that has been alleged. The stated allegations in every case carry presumptions of validity for purposes of a motion to…[...]

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There are a great number of strategies, tactics and schemes to avoid foreclosure and eviction from properties. Unfortunately this is brought out schemers who are taking advantage of the vulnerability of people whose emotional status is fragile at best and whose judgment is clouded. There are two things you need to watch out for. One is a large upfront retainer…[...]

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Tags: fidelity
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Statement from corporate representative of the spokesperson for Fannie and Freddie in Congressional hearing: "We don’t originate loans, and we don’t service loans. Rather, Freddie Mac provides guidelines for the origination and servicing of our loans, and contracts withsellers and servicers to carry out these operations. Institutions conducting these activities with respect to Freddie Mac loans represent and warrant to…[...]

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Patrick Giunta brought this article to my attention. He practices in South Florida and I co-counsel cases with him. Although there are some errors in facts and I have some differences of opinion with the writer, I think the article is a MUST-READ for anyone effected by "securitization" --- especially foreclosure defense attorneys. If nothing else there is corroboration of…[...]

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Tags: mortgages, privity of contract, promissory notes, securitization, splitting the notes and mortgages, UCC
Posted in Corruption, Eviction, evidence, expert witness, foreclosure defenses, foreclosure mill, Modification, Motions, Pleading, securities fraud, Servicer |

The problem with the site whose link appears below is that it is not authoritative. But we can treat it as though it was authoritative. The principal point is that even where Fannie and Freddie have "purchased" a loan it was for the express purpose of resale into the secondary market the trusts. In most cases Fannie and Freddie served…[...]

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Tags: Fannie, Freddie, Who owns my loan?
Posted in Corruption, expert witness, foreclosure defenses, Modification, Pleading, Servicer |

First we need to acknowledge that the purchase or refinance for a home is the largest financial transaction that the average citizen ever enters. Second we need to acknowledge that the purchase or refinance of a home is the largest financial transaction that an average citizen CAN enter. Third we need to acknowledge that collectively the purchases and refinancing of…[...]

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