TITLE SEARCH AND SECURITIZATION SEARCH

YES YOU NEED IT AND NO IT ISN’T SIMPLE. NO SILVER BULLET: A SIMPLE TITLE REPORT AND THE NAME OF THE TRUST WON’T GET YOU VERY FAR. WE’D LOVE TO MAKE IT SIMPLER, BUT IF IT WERE THAT SIMPLE, THERE WOULDN’T BE ANY FORECLOSURES.

Why do I need the securitization search? BECAUSE IT WILL TELL YOU WHAT TO LOOK FOR WHEN YOU CHALLENGE THE PRETENDER LENDER. And you can’t do a proper securitization search without a careful analysis of title and the documents recorded. THAT is why you need both. Only the title analysis will show the actual breaks in the chain of title and reveal suspicious documents. Only the securitization search will show that the borrower signed a note but the lender received a bond. They are two different things.

TITLE REPORT: LIVINGLIES LOAN SPECIFIC TITLE REPORT, COPIES OF DOCUMENTS AND ANALYSIS

SECURITIZATION REPORT: LIVINGLIES LOAN SPECIFIC SECURITIZATION REPORT, COPIES OF DOCUMENTATION AND ANALYSIS

MEMBERSHIP SUBSCRIPTION WITH DISCOUNTS, TELECONFERENCES, AND NEWSLETTERS

• The TITLE REPORT will show all liens and other activity recorded in the county records of the property in which ONE property is located.
  
• The securitization report is a search per loan not per property. In most cases, multiple liens in your case would have been treated differently and require 3 separate searches. If you ordered a securitization search and completed the order then you received via your email notice that you did receive the securitization commentary and that we identified the trust claiming to have your loan (or one of them) in it.
  
• We can only confirm the claim and the data entered. That means we can only tell you that a Loan” is listed as amongst the assets of a specified pool. That doesn’t mean it is actually in that pool. In most cases, as we have expressed on the blog, the “loan” was never in the pool, never the subject of an assignment, indorsement, transfer or even transmittal of the obligation, note or mortgage. The only item sent, as far as we can determine, as an industry practice, was a spreadsheet with incomplete and frequently erroneous loan data to justify the sale of the receivable allegedly expected from the closing of the loan.

If you want us to dig deeper, we have the ability to find the “tapes” at the loan level where we frequently find that even a loan that has been the subject of a notice of default is still reported to the investors  as fully performing, along with actual payment. If this is the case, then the loan is not in default or at least there is a question of fact as to who would be paying the obligation and why.

This goes to the point we repeatedly make on the blog — that the loan closing documents only tell PART of the story. You signed a note, but the lender got a bond (the bond is the rest of the story). You agreed to pay an obligation to an entity that didn’t lend you any money because you didn’t know it was a table-funded loan. The investor accepted a mortgage bond promising payment from a newly created entity whose value was derived from the expectation of receivables from loans the pool did not own and cannot be corrected because (1) it is past the cutoff date and (2) the loan may well be in default before any such corrective assignment or indorsement is made, which violates the terms of the securitization documents which carefully state that only performing loans are allowed into the pool.

If you wish additional consultation with me or one of our experts, you may arrange to do so. But a search service and is not intended to provide anyone with open access for advice, consultation or strategy sessions. The conflict between the reports of the “lenders” is part of your case. See a licensed attorney who understands securitization. Between these blog reports and the reports we gave you, he or she will know what to do next.

FOR CONSULTATION YOU NEED A LAWYER ON THE PHONE: Detail.bok

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