WHAT’S IN A NAME: WHY THE WORDS “ASSET BACKED SECURITIES” IN THE PLAINTIFF’S NAME OF A FORECLOSURE CASE SHOULD MAKE YOU DIG In view of the fact that the bulk of mortgages, especially those created in connection with refinance and home equity lines which were initiated between 2002 and 2007, were only a small cog in a much larger machine,…[...]
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Mortgage Lender Must Have Ownership Of Loan When Foreclosure Is Filed, Holds Brooklyn Judge May 21, 2008 The case of Indymac Bank, FSB v. Ross, Supreme Court, Kings County Index No. 24713/07 (January 15, 2008) began normally enough. Indymac filed a summons and complaint on July 6, 2007. The borrower failed to appear or answer, and Indymac asked the court…[...]
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As with all cases cited here, you should get on line and capture the pleading documents and other pertinent motions, discovery etc. It would help us and thousands of others, if you would send what you find to ngarfield@msn.com. LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL McKell v. Washington Mutual-Class Action Defense Cases: Defense Motion To Dismiss Class Action Improperly Granted As To Breach of Contract…[...]
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Start with GARFIELD'S GLOSSARY ABOVE: HERE IS ARE SOME OF THE RECENT ADDITIONS TO THE GLOSSARY AND TACTICAL CONSIDERATIONS: Deed of Trust An instrument signed by a borrower, lender and trustee that conveys the legal title to real property as security for the repayment of a loan. The written instrument in place of mortgage in some states. AS APPLIED THE…[...]
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Mortgage Lender Must Have Ownership Of Loan When Foreclosure Is Filed, Holds Brooklyn Judge May 21, 2008 The case of Indymac Bank, FSB v. Ross, Supreme Court, Kings County Index No. 24713/07 (January 15, 2008) began normally enough. Indymac filed a summons and complaint on July 6, 2007. The borrower failed to appear or answer, and Indymac asked the court to…[...]
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Ex-Capital One employee files whistleblower lawsuit Thu Jun 12, 2008 5:49pm EDT NEW YORK, June 12 (Reuters) - A former underwriter who says she was forced to resign after blowing the whistle on fraud at Capital One Financial Corp's (COF.N: Quote, Profile, Research, Stock Buzz) subprime mortgage unit filed a $51 million lawsuit against her former employer on Thursday. According to the suit filed…[...]
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Based upon the following, and assuming that the the entire single transaction from sale of the ABS to "sale" of the loan to the borrower consists of a basket of securities, some of which should have been registered, had a prospectus, right to rescind, etc., and based upon the disclosure requirements of public companies who have interests in SPVs and…[...]
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Lost Track of Who Owns Your Mortgage? Chances are You're Not Alone June 8, 2007 | Posted By Tiffany Sanders J.D. In the confusing sea of paperwork transferring mortgage notes from lender to holder to securitized pool, many consumers aren't at all sure exactly which entity owns their mortgage notes, or how one entity is related to another. The surprising…[...]
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It is a step in the right direction June 19, 2008 Court Offers Homeowners Help Avoiding Foreclosure By JOHN ELIGON Homeowners in New York who face foreclosures would be offered help by the courts to save their homes or at least make the overall process easier under a new program announced on Wednesday by the state’s chief judge. The program…[...]
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