SB5275 | Washington State Sells Out To The Banksters

You all remember SB5275 right? Well, the bill was amended and it just got even more interesting…


The Market Ticker – Washington State Sells Out To The Banksters

There is a bill pending before the Washington Legislature that would “reform” foreclosure procedures.  Among the provisions of SB-5275 is:

7 (a) That, for residential real estate property, before the notice of trustee’s sale is recorded, transmitted, or served, the trustee shall have proof that the beneficiary (bank) is the owner of the promissory note or obligation secured by the deed of trust. A declaration by the beneficiary (bank) made under penalty of perjury stating that the beneficiary (bank) is the actual holder of the promissory note or other obligation secured by the deed of trust shall be sufficient proof as required under this subsection.


A declaration?

Why not just produce the actual paper?  It’s no harder than producing a declaration, right?

If you have it.

Why did the state do this?

It appears they were paid off.


Right here:

(2) For each owner-occupied residential real property for which a notice of default has been issued, the beneficiary issuing the notice of default, or directing that a trustee or authorized agent issue the notice of default, shall remit two hundred fifty dollars to the department to be deposited, as provided under section 11 of this act, into the foreclosure fairness account. The two hundred fifty dollar payment is required per property and not per notice of default. The beneficiary shall remit the total amount required in a lump sum each quarter.

In exchange for the $250 consumer financial **** fee the banks may present nothing more than a bare declaration that they have a properly-assigned and transferred note.  No proof is required.

Now normally I might go along with this, but not now.  Why not?

Because these very same banks have admitted to filing 150,000 affidavits in the last couple of years in which the person swearing to personal knowledge hadn’t even read the document.  That is, they lied.  That’s perjury, and it’s exactly what the banks can do in this case, should this bill become law.

Normally the threat of prosecution for perjury would be enough to stop malfeasance, but it isn’t in this case because not one criminal indictment has been issued against any of the individuals or firms involved in the former false swearing, and therefore I must assume that there will be no penalty for lying in the instant case here in Washington State either.

You’ve been sold out Washington State, and if you allow this bill to be passed, you’re going to be bent over the table by the banksters while they pay a token fee in the form of a “foreclosure tax” to the state – and you get screwed out of your house without them having to prove they actually own the debt that is secured by the property.

Your “representatives” at work.

View with responses

Senate Bill Co-sponsors list:;;;;;;;;;;;;;;;;;;;;

Full Senate list:;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

House List:;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

SB 5275 – 2011-12

Addressing homeowner foreclosures.
Revised for 1st Substitute: Protecting and assisting homeowners from unnecessary foreclosures.

Go to documents…

History of Bill

as of Sunday, March 6, 2011 1:02 PM

Sponsors: Senators Kline, Haugen, Kohl-Welles, Hargrove, Rockefeller, Nelson, Ranker, Keiser, Swecker, White, Conway, Hobbs, Chase, Harper, Kilmer, Prentice, Shin, Murray, Fraser, McAuliffe
Companion Bill: HB 1362
Jan 19 First reading, referred to Financial Institutions, Housing & Insurance. (View Original Bill)
Jan 26 Public hearing in the Senate Committee on Financial Institutions and Housing & Insurance at 1:30 PM. (Committee Materials)
Feb 16 Executive action taken in the Senate Committee on Financial Institutions and Housing & Insurance at 1:30 PM. (Committee Materials)
Feb 17 FIHI – Majority; 1st substitute bill be substituted, do pass. (View 1st Substitute) (Majority Report)
And refer to Ways & Means.
Referred to Ways & Means.
Feb 24 Public hearing in the Senate Committee on Ways & Means at 1:30 PM. (Committee Materials)
Feb 25 Executive action taken in the Senate Committee on Ways & Means at 12:30 PM. (Committee Materials)
WM – Majority; do pass FIHI 11 bill proposed by Financial Institutions, Housing & Insurance. (Majority Report)
Minority; without recommendation. (Minority Report)
Passed to Rules Committee for second reading.
Mar 2 Placed on second reading by Rules Committee.
Go to history…
Available Documents
Bill Documents Bill Digests Bill Reports
Original Bill
Substitute Bill (FIHI 11)
Bill Digest
Substitute Bill Digest
Senate Bill Report (Orig.)
Senate Bill Report


Amendment Name Num Sponsor Type Description Action
5275-S AMS KLIN S2052.1 115 Kline Floor Striker

Fiscal Note (Available)
Get Fiscal Note


24 Responses to “SB5275 | Washington State Sells Out To The Banksters”
  1. Karen says:

    Everyone, that wording is ALREADY IN the law as it exists today.

    SB 5275 isn’t the source of this problem.

    I don’t know how to look up the history of a section of the RCW (Revised Code of Washington) to find out when this wording was put in there, but it happened at some time in the past.

    That said, there is no reason SB 5275 couldn’t be edited to change that wording.

  2. Pamela says:

    Okay Pat so are we supposed to let them screw us over once again,My question is if they lied to you once why in the hell would you give them the chance to lie to you again at table.This does not represent medition at table between you and your lender,half the time or more you can’t even get the true lender to come to table.If your first loan was that messed up :why would you think you would stand a chance at table against them once again?If this bill is supposed to aid people then it would’nt bring you and your lender to table for modif. as thats just another way for them to legal up your already fraudulent paper work.You can not modif. fraud .You also do not mention anything in your response about property owners that have already been foreclosed on.You only cite what will happen with home owners currently trying for modif.Again you can not modify fraud.This bill does no one past tense or currentley any good at all it just attempts to pussy foot around the important issues.Just one more way WA. state is again right in the banksters pockets.

  3. Katheryn says:


    I hate to rain on your parade and we all need hope, however, this bill in my opinion, is trash. It basically just gives the soon to be evicted homeowner more time to make arrangements. Yes, you are correct that the bank must pay a $250 fee to get the “green light” to foreclose, however the couseling fee is split between bank and the soon to be foreclosed on. If this goes well you can bet it will be picked up on by other states…so I hope those in Washington really pick this bill apart before it’s too late. This is copied right from the Bill:

    Within seven business days of the mediation the mediator must provide a written certification
    to Commerce and the parties including whether the default was cured and the parties acted in
    good faith. At this point, the foreclosure proceeding may continue.
    Unless agreed otherwise, the mediation fee is not to exceed $400 and includes a mediation
    session lasting from one to three hours, paid equally by both parties.
    Starting in 2012 and annually thereafter, Commerce is to report to the Legislature the
    performance of the program, the results of the mediation program, and any recommendations
    for statutory changes.
    If a borrower enters into mediation, a trustee may not record a notice of sale until the trustee
    has received a certificate provided by the mediator.
    Notice of Default Surcharge. For each owner-occupied property for which a notice of
    default is issued, beneficiaries are to remit $250 to Commerce to be deposited into the
    foreclosure fairness account which funds housing counseling, mediation, enforcement by the
    Office of the Attorney General and homeowner representation through the Office of Civil
    Legal Aid.
    Consumer Protection Act (CPA). It is a violation of the CPA for any party to violate the good
    faith requirements of the mediation program or for any person to fail to comply with the meet
    and confer requirements.
    INSURANCE COMMITTEE (Recommended Substitute): If a borrower responds to a
    lender’s request and/or works with an approved housing counselor or attorney, the
    homeowner may have up to an additional 60 days to negotiate with the lender prior to the
    issuance of the notice of default. A housing counselor or attorney working with a homeowner
    Senate Bill

  4. Pat says:

    People, please READ and then decide. This bill is about requiring mediation between the bank and the homeowner to find alternatives other than foreclosure. The $250 is a fee imposed TO THE BANKS to pay for housing counselors to help homeowners understand the paperwork and their options. This is a great bill for homeowners and there is ABSOLUTELY nothing fraudulent about it! WAKE UP AND READ the bill and the testimony and read about your legislators before jumping to conclusions! I am amazed that so many people are giving their opinion left and right WITHOUT having even READ the bill and what it’s going to do, which is to BENEFIT ANYONE WHO IS FACING FORECLOSURE IN WASHINGTON STATE!

    • How do you explain this then?

      “A declaration by the beneficiary (bank) made under penalty of perjury stating that the beneficiary (bank) is the actual holder of the promissory note or other obligation secured by the deed of trust shall be sufficient proof as required under this subsection.”

      Why not just produce the actual note? It’s no harder than producing a declaration, right?

      If they have it.

      Maybe if this clause is removed and it was required to produce the actual blue ink note, the bill would have support.

  5. Pamela says:

    Hello one and all just weighing in from WA. state .We are so screwed if this goes any where which it probably will.WA. state has one of the worst governments that there is because it is peopled but a bunch of nutless wonders that couldn’t get jobs doing anything in private sector so decided to get into politics.Imagine that. We do have stand up people fighting to make this not happen,but communication for people in this state sucks and thats whats killing us.We were the last to really be affected by this so it takes people up here a while to get used to the idea of change.Hopefully we can put a stop to this but its like so many other things that take place here.If all the people in WA. state really knew what was going on I feel they would stop this but without at least some media coverage thats not going to happen and we will be shackled once more by our bought and paid for politicians.I just don’t get it !!!!

  6. Vale says:

    Question is, how much did the banks stuff into the pockets of the politicians who are supporting this nonsense. We have numerous people on Wall Street and within the Federal government who are getting away with crimes that put Madoff behind bars for life. Not a one of these senators, congressman or anyone else tied to this foreclosure crisis can be trusted. As far as the Obama plan to save your house goes he could care less as long as he is nice and comfy in the WH along with the rest of the slime. The FEDS are out to take your home because they do not want anyone owning property. This was intentional and if anyone thinks we are not living in a police state headed for a full blown dictatorship then you had better educate yourself because it’s real.

  7. losing my home in florida says:

    I feel like i am inthe holocaust again like my great grandparents whom had the tatoos of auchvitz. instead of my family being in auchvitz we are in our own home the nazis are wells fargo and and the lawyers are the SS soldiers that lsiten and do what they are told . this is a sad tim foe my family. wells fargo h as premeditated my hamp denial. again my paper work is lost this time i have a tracking number and a person that signed fro my package. i have fedex on the case to. i live in florida and with all htese fraudclosures how do they find sc-mbag lawyers to take their cases, its amazing they could lie to us and our own florida residents fight against us it does t make sense in my brain. i got my default/right to cure. they want 215k my home value is 108k. but what does that mean anyway where do they expect any of us to come up with the money what is that letter for?????????
    appraisal fraud , modiification fraud all this fraud why isnt anyone in jail yet. how could we all be going through the same thing and it just continues. hmmmmmmmmmmmmsouns alittle like my great parents. yes there were lots of “pogroms” but i the end 6 million jews + others were kelled why by a tyrant. so now we will have 6 million foreclosures. who is going to buy all htese empty houes why kick us out why put kids through this stress for what sorry about my spelling on a small net book. i am o stressed i do not know how i am going to get through this. i probably would have not made it out of auchvits. please help we neeed to save our homes

  8. Mark Bowen says:

    I only want to know one thing. How many Washington State Legislators are also members of the Washington Bar Association? Hard to tell from public information, but a serious inquiry into the “separation of powers” is required in this case.

  9. Katheryn says:

    Did you read it in its entirety? I read it with 1/2 concentration and basically it is requiring mediation payed for equally by the taken from (homeowner) and taken by (bank). It is requiring a bunch more red tape, time and fees for the “taken by” to actually take. It requires mandatory mediation which is described more as a counseling service for the soon to be “taken from”. There is a tiny blurb about the fact the the mediator must provide a “clearance certificate” to the “taken by” to officially take from the “taken from”. All this verbal nonesense amounts to “no real protection” to the homeowner, just some additional time to get used to the fact they will soon become “taken froms”. The extrapolation you refer to is the part that really negates any real substancial protection. Why do the banks hate it….they do not want to waste time, cuts in their “taken by” profits and most of all the arrogance that they must be issued a “certificate” to foreclose.

    I look forward to hearing anyone elses analysis of the bill and will politely stand corrected should my viewpoint be terribly off point.

  10. l vent says:

    Because of high Treason within our own country, America has been sold out to the Foreign Interest. America is now just about right where they want us. They stole our technology, our innovation, our education system and our wealth. Now we have to re-invent America or they will destroy us. All of our politicians need to go. We need some REAL HONEST, PATRIOTIC, AMERICANS running the show over here. We need new innovation and more entrapaneurship, The American Government, not the FOREIGN BANKSTERS need to start lending to start small businesses and not tax them for the first two years. We also need a massive push for Affordable good quality Higher Education for our youth. We need a large FREE MARKET HEALTHCARE SYSTEM with the Government offering affordable health care to people who cannot afford it and that will drive down the cost of existing health care. The world was built off of the backs of the most brilliant hard working people in the world, the Americans. Our brave soldiers fought war after war to save nations from the same tyrannts who are now trying to bankrupt and destroy us. The treasonists in our own country have sold out our great nation and now the tyrannts want to make America the laughing stock of the world. We can’t let that happen to our country.. We the American people are now becoming the huddled masses in our own country. That is just wrong.

  11. Scott says:

    I am just passing through here searching for information on all this, but I wondered if anyone else had looked at the records of testimony for and against the bill before flaming it?

    I know this isn’t the whole story, but usually you can tell a lot about what all the legal mumbo-jumbo means at the end of the day by looking at who supports or opposes a bill, and the banks seem to be AGAINST this, which would seem to mean it’s a bad deal for them and a good deal for us. Meanwhile, those supporting it are a litany of liberal and homeowner rights groups. I would suggest the effect is not as simple as the little bit of section 7a that is quoted above would make it seem.

    If someone can figure out why this is a sell-out to the banksters, and yet the banksters are all against it, I would be interested in a more in-depth explanation.

  12. Katheryn says:

    Master David Goodmen

    My money (if I had any left) is on you! Yes…again and again and again and again…….
    Round and round we go..are we all dizzy yet.

  13. So, for two hundred fifty dollars, and a little work, I can keep the homeowner‘s money, then sell the house again!
    … and again!
    … and again!

  14. Katheryn says:

    Have you heard of the “Bildberger” group?

    • l vent says:

      Oh yeah, they are the members proposing a New World Order, and are the who’s who of the world establishment, secular and ecclesiastic. Their agenda is control: their tactics,deceit. Most of the key players sit on the boards of committees of a few powerful organizations: the Council on Foreign Relations(CFR) The Trilateral Commission, the Bildebergers, and the CLUB OF ROME. Often members of one organization will be involved with several others as well. The people belonging to these powerful organizations are high ranking United Nations officials, noted world leaders, noted politicians, bankers, World Bank and International Monetary Fund officials, clergy, members of the World Future Society, top-level Masons, and people either inadvertantly or purposely promoting a one-world government. The foundation for this one world government was planned consciously by the POLITICAL and FINANCIAL elite. Much of the groundwork was laid when the Constitution for the Federation Earth was adopted in June 1977. The World Constitution and Parliament Association (WCPA) is the umbrella organization actually charged with the task of bringing us into the New World Order. It has many financial supports. The agenda of the New World Order is being funded by literally hundreds of organizations. One is the Lucis Trust-called at first the Lucifer Trust. To mane a secular organization the Lucifer Trust shows the boldness and the confidence of the men behind this movement. But the use of such a name is really not surprising, the philosophy driving the creation of the New World Order is heavilly indebted to the New Age, old pagan practices, Masonry and the occult. For years, the United Nations has become the enforcement body of the world rulers. Premiers and presidents of nations will not go against the rulers of this institution. At the top of the Monarchy sits the Black Pope, then it is the Jesuits, then it trickles down to this heap. Does a satanic cult rule the world? The answer is yes. Please feel free to google or you tube search any of the names mentioned above. The Agenda of the New World Order is HERE: ABOLITION OF ALL ORDERED GOVERNMENTS, ABOLITION OF PRIVATE PROPERTY, ABOLITION OF INHERITANCES, ABOLITION OF PATRIOTISM, ABOLITION OF THE FAMILY, ABOLITION OF RELIGION, A GLOBAL POPULATION OF 500 MILLION, CREATION OF A ONE WORLD GOVERNMENT. “NEW WORLD ORDER” is the GLOBAL TOTALITARISM dream that a BANKER called Mayer Amschel Rothschild, helped revive in the 1760’s to protect his private bank from global government regulation. His grand blueprint is best described by his paid social engineer by the name of Adam Weishaupt. This nightmare is still sought after today by their family’s inbred decendants. BANKER Mayer Amschel Rothschild in 1828 said “Allow me to issue and control the money of a nation, and I care not who writes the laws.” The Declaration of the Federation of the World, produced by the Congress on World Federation said this about the New World Order: If totalitarianism wins this conflict, the world will be ruled by tyrants, and individuals will become slaves, If democracy wins, the nations of the earth will be united in a Commonwealth of free peoples, and individuals, wherever found, will be the sovereign units of the new world order. This was adopted by the Legislatures Of North Carolina (1941), New Jersey (1942), Pennsylvania (1943), and possibly other states.

  15. l vent says:


  16. Katheryn says:

    I will keep this in mind. If I am ever before the court for a crime; I’ll have my notarized Declaration of non-guilt in my back pocket. What a joke of jokes. Insanity reigns on. Just put the (hungry) fox in charge of the chicken coop. Washington State….you best speak up loud and clear..

  17. John says:

    Why couldn’t you are an off the street bum file the same thing before they do?
    I see homeowners doing this.

    Yours or anyones claim to be the rightful owner (holder) of the note is just as good as theirs if neither requires proof! Especially if your is filed first.

  18. Atty Ed says:

    Perhaps Jeffery Stephan would be willing to give “A declaration by the beneficiary (bank) made under penalty of perjury stating that the beneficiary (bank) is the actual holder of the promissory note or other obligation secured by the deed of trust”?

  19. l vent says:

    We must send them packing. They are aiding and abetting the Nazi’s.

    • l vent says:

      DON’T VOTE FOR ANY OF THEM. We DO NOT ELECT anyone. Everything is a rigged game. Pull you money and your investments out of the FOREIGN MULTINATIONAL BANKS AND FOREIGN MULTINATIONAL NYSE/EURONEXT FRAUDULENT STOCKMARKET. THEY ARE A SHAM AND A FRAUD. They are robbing us all into a blind stupor.

    • l vent says:

      They are all sons of bitches and spawns of satan.WE NEED AN INDIVISIBLE NATIONWIDE TAX REVOLT. THAT TAX MONEY IS GOING TO ROME. DO YOUR HOMEWORK PEOPLE. Go to you tube and search for 25 facts EVERY AMERICAN SHOULD KNOW.

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