I'm fighting against homeowners who think they know

Here is an example from one of my more savvy readers who still makes the key error: This person refers to the “Depositor” in the chain of “Securitization” references contained in various documents. None of those entries are legally significant in any way unless they (refer to real-world transactions ) and (b) are contested by homeowners.

Companies named as depositors are nothing of the sort. They are small undercapitalized companies that have virtually no income or employees. Their sole purpose is to create an implication that the sale of an unpaid loan account (or a group of unpaid loan accounts) has been sold. This is a lie — not merely a misrepresentation deigned to mislead.

So here is my response to one inquiry I received.

Correction: they were NAMED as the depositor.

With only $300k in revenue, they could not have been processing the volume of “loans” referenced.

To be the depositor, one would be the owner of the named asset. The named asset is a loan receivable due from a homeowner.

You get to be an owner by paying for it or getting it as a gift.

They never deposited ownership of the loan receivable account.

They never took ownership of any loan receivership account, which is easily provable by asking for their general ledger to see if they ever listed it as an asset arising out of entries against other asset accounts that enabled the “depositor” to pay for the asset. It is all smoke and mirrors.

To be blunt: People who lack education, knowledge, and training in investment banking and law have no right to express an opinion. If they choose to do so, they are hurting not only themselves but thousands of others.

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Neil F Garfield, MBA, JD, 75, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business, accounting and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. THE COMMENTS ON THIS BLOG AND ELSEWHERE ARE BASED ON THE ABILITY OF A HOMEOWNER TO WIN THE CASE NOT MERELY SETTLE IT. OTHER LAWYERS HAVE STRATEGIES DIRECTED AT SETTLEMENT OR MODIFICATION. THE FORECLOSURE MILLS WILL DO EVERYTHING POSSIBLE TO WEAR YOU DOWN AND UNDERMINE YOUR CONFIDENCE. ALL EVIDENCE SHOWS THAT NO MEANINGFUL SETTLEMENT OCCURS UNTIL THE 11TH HOUR OF LITIGATION.

But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 14 years or more. In addition, although currently rare, it can also result in your homestead being free and clear of any mortgage lien that you contested. (No Guarantee).

Yes you DO need a lawyer.
If you wish to retain me as a legal consultant please write to me at neilfgarfield@hotmail.com.

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