Teaching Better Fraud Methods? – An Assignment or a Formalization or a Memorialzation?

From: Lynn Szymoniak

The standard language in most of the mortgage assignments being signed by employees of Lender Processing Services (most recently, Kathy Smith, Joseph Kaminsky) has changed in one significant respect.

The effective date of the transfer from grantor to grantee is now not stated as a specific date. Instead, we have the following:

“This document has been executed and is being recorded in order to formalize and memorialize an assignment of the subject mortgage which took place prior to December 17, 2009.”

A copy of this particular “assignment” is attached. It is signed by Kathy Smith “Assistant Secretary, MERS as nominee for American Home Mortgage.”

This language is easy enough to locate on the document because a different type font is used.

How this prior assignment took place without a document is left unexplained.

IN THE PAST MONTHS, THIS CHANGE HAS BEEN MADE BY MANY OF THE FORECLOSURE MILL LAW FIRMS DIRECTED BY LENDER PROCESSING SERVICES, SO,

THERE MUST BE A MEMO DIRECTING THIS.

This is really an acknowledgment that the document is NOT the original assignment – but a replacement. Who will recognize this shoddy attempt to “create” standing to foreclose? No doubt, the state court judges in Brooklyn, the federal court judges in Ohio, a few bankruptcy judges, a few Massachusetts land court judges (Keith Long) and many bankruptcy trustees. In Florida, the scheme will perhaps be first exposed by state court Judges Bailey, Traynor or Rondolino.

If any of you “insiders” want to shoot over that memo feel free to send it on over.

4closureFraud

An Assignment or a Formalization or a Memorialzation?
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Comments
3 Responses to “Teaching Better Fraud Methods? – An Assignment or a Formalization or a Memorialzation?”
  1. John Hughes says:

    The refernce to a specific date in 2009 leads me to believe this may be a desperate attempt by the fraudsters to avoid TILA liability (including possible resecission). Amendments to TILA in 2009 (don’t know the effective date but what do you want to bet it was 12/17/09) make it a TILA violation if a borrower isnot notified of a transfer of his loan within 30 days. See Matt Weidener’s blog-he has a short piece on this amendment.

  2. Andrew says:

    Is it remotely possible that the “Original Assignments” never existed in the early stages of the GAME? Or maybe EVER?
    Been looking everywhere and they don’t exist for me, no recordation Period here in MA.

    Any assistance would be appreciated. http://www.foreclosurehamlet.org/profile/ACE

    Thank You,
    Andrew

  3. eddie says:

    Yeah!!! I have one nearly like it. Only on my assignment from JP Morgan Chase to Chase Home Finance LLC states that it was effective between Febuary 10th through the 14Th of this year. Its interesting that the assignment wasn’t notorized until March 16th of this year. Recording was on April 7th 2010.
    If I a non lawyer can see the fraud might not anybody???

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