Goodnight Banks: Arizona SB1259 Foreclosures; Proof of Ownership Passes Senate

The Market Ticker – Goodnight Banks: Arizona

Well what do we have here?

A. FOR ANY BENEFICIARY WHO IS NOT THE ORIGINATING BENEFICIARY ON THE DEED OF TRUST, THE BENEFICIARY SHALL RECORD A SUMMARY DOCUMENT REGARDING THE BENEFICIARY’S LEGAL INTEREST IN THE DEED OF TRUST THAT CONTAINS THE FOLLOWING INFORMATION IN CHRONOLOGICAL ORDER:

THE FULL NAME AND ADDRESS OF RECORD OF EVERY PRIOR BENEFICIARY ON THE DEED OF TRUST.

THE DATE, RECORDATION NUMBER OR OTHER UNIQUE DESIGNATION OF THE INSTRUMENT, AND A DESCRIPTION OF THE INSTRUMENT THAT CONVEYED THE INTEREST OF EACH BENEFICIARY.

THE SUMMARY DOCUMENT PRESCRIBED BY THIS SECTION SHALL BE RECORDED AT THE SAME TIME AND PLACE THAT THE NOTICE OF TRUSTEE’S SALE IS RECORDED PURSUANT TO SECTION 33-808 AND A COPY OF THE SUMMARY DOCUMENT SHALL BE ATTACHED TO ANY NOTICE OF TRUSTEE’S SALE THAT IS REQUIRED TO BE PROVIDED AS PRESCRIBED IN SECTION 33-809.

C. FAILURE TO PROPERLY RECORD THE SUMMARY DOCUMENT THAT DEMONSTRATES EVIDENCE OF TITLE FOR THE FORECLOSING BENEFICIARY AS OF THE DATE OF THE TRUSTEE’S SALE AS PRESCRIBED BY THIS SECTION RESULTS IN A VOIDABLE SALE.

D. ANY PERSON WITH AN INTEREST IN THE TRUST PROPERTY MAY FILE AN ACTION TO VOID THE TRUSTEE’S SALE FOR FAILURE TO COMPLY WITH THIS SECTION AND IS ENTITLED TO AN AWARD OF ATTORNEY FEES AS WELL AS DAMAGES AS OTHERWISE PROVIDED BY LAW IF THE PERSON SUBSTANTIALLY PREVAILS, INCLUDING AN AWARD OF ATTORNEY FEES FOR ANY INJUNCTION OR OTHER PROVISIONAL REMEDIES RELATED TO THE CLAIM.

smiley

It’s about damn time.

That ought to put an immediate and complete stop to the crap that banks continually run about having “substitute” documents or having an assignment when they really don’t.  Note that this bill (which apparently was just voted out of committee 4-0 in the Senate, and which has a companion in The House) will put an absolute stop to any foreclosure where the originator of the note did not transfer it properly (that would be, I’d argue, most of them) and it will render void upon suit by any person who is foreclosed upon and discovers that the note was never properly conveyed.

Ex-post-facto “cleanup” BS games will be rendered impossible by this bill.

The bottom line is this: Either the original issue of that mortgage and its subsequent securitization went through all previously-required assignments and you can prove it or your ability to convey a title via Trustee Sale is gone.

Awwww those poor widdle banksters that cheated on the rules…. looks like Arizona has had enough of their games and is going to body-slam them all in favor of their citizens.  BRAVO!

Now to get this introduced and passed in all 50 states….. a refreshing instance of legislation that actually both defends property rights and fits on one page!

Hattip Halfbrite

View this entry with comments

To view the testimony on this bill click the link below.

http://azleg.granicus.com/MediaPlayer.php?view_id=13&clip_id=8276

SB1259 Testimony starts at 34:30

Senator Michele Reagan comments start at 35:35

Wendy Briggs (Lobbyist for Arizona Bankers Association) comments start at 38:20

William Hultman (Senior Vice President of MERS Inc.) comments starts at 44:20

Lee Miller (Lobbyist for Arizona Trustee Association) comments start at 53:50

Darrell Blomberg (Self) comments start at 58:50

Bev Hall (Self) comments start at 1:10:30

Senator Michele Reagan wrap up starts at 1:14:35

SB1259 testimony ends at 1:17:15

~

4closureFraud.org

~

Arizona SB1259 Foreclosures; Proof of Ownership

Comments
15 Responses to “Goodnight Banks: Arizona SB1259 Foreclosures; Proof of Ownership Passes Senate”
  1. Katheryn says:

    Congratulations Arizona! It is nice to see one state put out the message that “white collar crime” will not be ignored and left to go on. There seems to be no end to greed and the fact that it is bringing the whole country down. I am in a state that couldn’t care less. I guess it is due to the fact that most businesses and banks incorporate here….conflict of interest…don’t want to piss them off. I hope all the other states get on board, but I’m not hopeful.mine ever will. I’m going it pro se. There is not a lawyer to be found who will even speak or respond to any inquires regarding this mess. The mentality is you borrowed the money….so pay it. We don’t care or want to hear about facts or violations…just pay the money or give back the house. The banks have rights….you do not:(

  2. l vent says:

    The U.N. is holding America hostage. The U.S CONSTITUTION protects the American people from acts of treason by our own Government. Our Government has attempted to sell out America to the U.N. WAKE UP AMERICA, Our U.S. Constitution is there to protect US from THE TYRANNTS that are clearly trying to destroy America. This Government has deceived and lied to the American people and has clearly committed acts of treason against it’s own people for their own selfish purposes.

  3. l vent says:

    It is about time someone is doing something to try to level the playing field in favor of struggling homeowner’s . It is NOT ENOUGH though. Their needs to be a NATIONWIDE MORATORIUM ON ALL FRAUDCLOSURES. This ongoing criminal assault on the American people must be stopped. The evidence of innumerable crimes being committed by this cabal against the American people is overwhelming. They have created a system of justice in America that is non-existant because they have CORRUPTED THE ENTIRE SYSTEM, The U.S. CONSTITUTION and the BILL OF RIGHTS were put in place by the founders of America to PROTECT THE PEOPLE AGAINST A TYRANNICAL GOVERNMENT, NOT VICE VERSA, President Obama KNOWS THIS IS TRUE. Not paying and UNSECURED FAKE MORTGAGE DEBT is NOT A CRIME besides WE ARE THE ONLY ONES WHO CAN PROVE WE OWN OUR HOMES. If the fraudclosing party DOES NOT have the ORIGINAL BLUE INK NOTES from the ORIGINATION OF THE FAKE MORTGAGE that should mean A HALT TO ALL FRAUDCLOSURES IN AMERICA. This is precisely what Marcy Kaptor meant in Michael Moore’s movie CAPITALISM A LOVE STORY when she spoke about they DO NOT HAVE THE NOTES UP ON WALL STREET. The mafioso’s DESTROYED THE ORIGINAL NOTES to cover-up for their crimes. They are all despicable and SHOULD NOT BE ILLEGALLY FRAUDCLOSING ON the AMERICAN PEOPLE’S PROPERTY. THIS IS COMPLETELY UNAMERICAN AND UNCONSTITUTIONAL.

  4. Wayne Brundrett says:

    Ok …. Now show me a list of Lawyers who will help us with out charging us an arm and a leg. Oh one more thing ….. they also have to “Get It”.

  5. Heather says:

    Arizona’s SB-1259 is really doing what the law says should be done to begin with. While I applaud the clarification that these lenders, banks, trusts, somehow need dangled in front of them, it is up to the judiciary to enforce the laws. It seem that judges need this clarification spelled out to them, especially Lee County, Florida judges who seem to think they are above the law. It is the law! Enforce it! Way to go Arizona!

    It also seems that the lenders, banks, trusts seem to think they can get away with it and when they find the judge that will rule in the absence of adhering to the law, they drool at the prospect. We’re seeing this in Central Florida, too! As for MERS, Holtman (sp?) who spoke, that man contradicted himself a couple of times, so much so that I had to listen to his statements a couple of times… so should you! I’ll be adding him to my witness list, for sure! And, the guy who spoke for the Trusts organization, I have so much that I could say to him that the explanatives would be aboundful, for sure, like, “you idiot, you think it is okay for me not to know who owns my mortgage or who claims to own my mortgage and that the chain of title is not a right or somehow an inconvenience for you to disclose!” “Or, should I say, that your paying your own mortgage and Bugatti Veyron car payment is more important than me putting food on my table… or than knowing who actually owns or claims to own my mortgage!” Very distrubing on what actually motivates the trust companies who are hiding from us all with the cloak of MERS. Let me guess,,,, money!

    I AGREE,,, Floridans should ban together more than we are!

  6. Lately I been disappointed of Arizona with some of their radical new laws…Until now. Arizona is scoring a very good point now ! some re vindication here !

  7. Elaine S says:

    With a published list of assignments, it would also make it very easy to check with the Secretary of State to see if each assigning entity (usually a Corp, LP or LLC. ) was registered with the state to legally conduct business in the state when they signed.

  8. At this point, the fraud has become so rampant that it receives greater exposure, every day. The San Francisco Chronicle had a few articles on the frauds, but those articles were in the business section. That is, they were buried in the business section, and they were very small articles, too.
    They had to say something, but the big banks are big advertisers, so the subject is essentially invisible. I mention these things on My facebook page, on occasion. I doubt anyone pays much attention, but when someone does notice it, then the info passes on.

    A legislator who pushes for (ahem!) Fraud Reform, will have plenty of “bragging rights”, come election time. The legislators who work to keep fraud a growth industry will find effective negative ads featuring them and their bankster allies.

    State Attorneys General can see the same handwriting on the wall, even if they have little concern for the law. Thus, they are on the ball, too.

    Hmmmmmm…
    Now, we need a Michael Moore movie: “Dude! Where’s My House?
    How about a foreclosure sale, with two old ladies, “Hey! Where’s the law!?

    This is probably the time to bring back the whipping post, as part of a well balanced punishment. The defrauded home used-to-be-owners would then be allowed to deliver a certain number of whip strokes, depending on the crimes done them. Most would likely hire some muscular man, well acquainted with whipping, to provide the punishment in their places.
    01 stroke—each day they have been without their home
    01 stroke—each day they were lied to about mortgage modification
    10 strokes-each time they were told “Everything is OK.”
    50 strokes-each extra set of paperwork sent in
    50 strokes-each modification payment sent in
    50 strokes-each time they were hung up on
    This will not get the homeowners’ homes returned, but it will offer them a way to work off some frustration, and anger. This an introspection time for the bankster. He can ask himself why he ever expected to get away with it.
    I am sure other folks can come up with more items for this list.

    The fraudsters can also spend ten or twenty hours per week, working for Habitat for Humanity, building homes, instead of stealing them!

    • Marshall McLuhan says:

      Master Goodmen,

      Be sure to check out Moore’s last movie “Capitalism: A love story” and you’re see a whole section dealing with the foreclosure fraud. He didn’t have the facts we have today – but he does touch on the contradictions and the struggle local officials have in doing the dirty work of the banks.

    • l vent says:

      Habitat for Humanity is a cover-up for the very same cabal that are house stealing from the American people. The elite are very evil and deceptive about what they do. Everything is corrupted and we can not believe ANYHTING we are told by any of them. They are all LIARS and TWO-FACED, they have committed treason against the UNITED STATES OF AMERICA. MSNBC is also a sneaky fraud and obviously part of the cabal. They are selling stolen fraudclosed and PRE-FORECLOSED on homes on their website. They are trying to sell homes that haven’t even been FRAUDCLOSED ON YET. There is a LIVING HELL for Americans going on in this country by an elilte group of secret societies who have bought our ENTIRE Government. It is treasonist and it is a despicable disgrace. They are pissing on all of us.

  9. tommy says:

    additional comment…Eygpt has it’s problems they were held down by the government
    well people our government holds us down by screwing with our money EVERYTHING is fixed
    seroiusly we need to form an uprising also this is not a democracy just take a look at what is happening
    you have no say the Jdges in these Foreclosure cases didn’t even listen to the people getting Foreclosed on
    they sat there probably wondering what they are going to eat for dinner that night in their heads I know what goes on in these firms and the public was scammed by low paying clerks instead of logical people that were paid to do a normal job I worked with Stern the office was filled with employees on drugs just going through a routine
    half the time the paperwork was crammed in back of a file cabinent because they hated working there this was
    the only position they could get instead of McDonald’s that was why he could charge the banks so low of a rate
    there used to be feces spread in the bathrooms because people wanted to get Stern even
    now it’s time to take your money back, your pride back as Americans and it may come to an uprising the government does not care they don’t and Obama is as transparent as a piece of felt this is a wake call

  10. tommy says:

    Excellent News…..Everyone needs to get on the Soul Train….
    thank you Arizonia for waking up

  11. maia says:

    GREAT NEWS!

    WHAT ABOUT DAMAGES OR INJURY OF PLAINTIFF?

    -FLORIDA– LETS GO THE DISTANCE AND GET A BILL PASSED THAT SHOWS CHAIN OF TITLE AND DAMAGES BY WAY OF THE SERVICER LEDGERS. (Afterall, that is what legally shown Standing in court–DUHHHH!

  12. l vent says:

    Yes, this is fantastic news. This does need to pass nationwide. Hopefully this will be the equalizer for the people vs. the banks. This is the way it should have been all along, in EVERY STATE. The mortgage fraud is proven and was rampant for decades. Fraudclosuregate is the result of a broken system that was built on a house of cards, a fraudulent business model. It is a system that never had any respect for the right’s of homeowner’s or the laws of OUR land or OUR Constitutional Rights. It is about time somebody realized that this is The United States of America and that we are a great nation with great and responsible citizens who are being victimized. This was clearly no fault of our own but the fault of a worldwide Ponzi Scheme and we are the people being held hostage and being victimized by rampant corruption and a broken system based on fraud. The people had no problems paying their mortgage and their bills until the INTENTIONAL FINANCIAL COLLAPSE. The American people were intentionally set up to fail with no recourse for the people. That is facsist. and that is Unamerican.

Trackbacks
Check out what others are saying...


Leave a Reply