Just got word that TWO exact properties may have been bought at the same exact time for the same exact price for the example below.
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HOWEVER, this loan is not the only one doubled up in this trust, and we have seen others.
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More to come…
Not quite sure if we are 100% correct on this, so we are going to just put it out there and get some feedback…
We have been working behind the scenes on a little project that, we think, proves loans have been multiple pledged in trusts. We have found enough evidence to confirm our theories enough to publish this little report. Mind you, we are not securization expects, but we do love digging through records and have become quite adept.
Earlier today, we published IN RE PHILLIPS, US Bankruptcy Court, S.D. Alabama | AURORA LOAN SERVICES Motion to Dismiss GRANTED, Except for Fraud on the Court.
Now, being that Nick Wooten has been in the spotlight on all these cases in Alabama with LPS and Housingwire, we decided to check out the loan that was part of the bankruptcy case above, U.S. BANK, AS TRUSTEE FOR STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-10.
So what we did was pull every investor report that we could get our hands on, and came up with what appears to be the jackpot.
The loan, that was included in the bankruptcy case above, appears to be DOUBLE PLEDGED in the trust.
Again, we may be wrong on this, so any feedback to correct our assumptions would be appreciated. I just can’t see how it can be anything other that that.
From the reports…
This is a screen shot of the first investor report for the trust that the loan was in.
Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2007-10
What this report tells us, when we scroll down to Geographic Distribution by State, we learn that TWO loans were “distributed” in Alabama for this trust…
Now, why would that be relevant?
Well, we pulled the loan level data for the entire trust, sorted it by state, and guess what we found?
The only two loans in Alabama.
Here are the details on each loan number…
Loan Number 47520960
Loan Number 47521182
Okay, so they are different…
Here are the pool numbers…
Loan Number 47520960 – Pool Number SARM 2007-10
Loan Number 47521182 – Pool Number SARM 2007-10
Good, same pool…
Loan closing date
Loan Number 47520960 – 9/7/2007
Loan Number 47521182 – 9/7/2007
Deal closing date
Loan Number 47520960 – 10/30/2007
Loan Number 47521182 – 10/30/2007
Nothing too out of place so far. Two loans in Alabama could have the same pool number and closing dates, right?
Credit Score
Loan Number 47520960 – 739
Loan Number 47521182 – 739
Occupancy Type
Loan Number 47520960 – Investor Occupied
Loan Number 47521182 – Investor Occupied
Original interest rate
Loan Number 47520960 – 9.75
Loan Number 47521182 – 9.75
Original loan balance
Loan Number 47520960 – $840,000
Loan Number 47521182 – $840,000
Original securitized balance
Loan Number 47520960 – $840,000
Loan Number 47521182 – $840,000
LTV rate
Loan Number 47520960 – 70
Loan Number 47521182 – 70
Uh oh, I think I am starting to see a pattern here…
The loans go on to have the same pp_flag prepayment_penalty_term product_type property_state property_type loan_purpose_type risk_grade_score lien_position_type cltv_rate cutoff_date loanage_count mss_count interest_rate beg_prin_bal loan_status delq_bucket prepayment_amount liquidation_bal current_gain_loss_amount end_prin_bal sched_prin originator servicer intcalctype ratetype ioterm margin origterm…
EVERYTHING is identical…
Now remember, there were only TWO loans in Alabama, totaling $1,680,000.00 in the distribution report…
Did you take note of the original loan balance on the “TWO” loans that were detailed above?
They were each for $840,000. Do you know what $840,000 + $840,000 is?
Why it is the same amount as reported in the distribution report of $1,680,000.
This is not the only loan in this trust that is doubled up on corresponding reports, and this is the same type of pattern we have been finding in other trusts.
So, if what appears to be a double pledged loan, is actually a double pledged loan, it opens up a few questions…
Such as…
If this is so damn easy for someone who has no background in securitization to find this, where the hell have the “regulators” been? Again, assuming that this is what it appears to be.
Did they actually look at ANYTHING when doing their investigations into the servicers over Fraudclosure-gate?
If this loan was sold multiple times, were there any damages?
How many “insurance” policies were collected on this loan if it is truly double pledged?
Were the investors defrauded TWICE on this loan?
There are many more questions to be answered once we truly verify beyond a doubt that this is what it appears to be.
Like I said before, this isn’t the only trust we are seeing this pattern in and what I have learned from this whole crisis is, if there are two “irregularities” there are thousands…
So, someone please prove us wrong, because if we are right, we haven’t seen anything yet…
Full reports below…
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4closureFraud.org
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You might have to download the reports to view them
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PHILLIPS ROW 257 Copy of SARM 2007-10 – November 2007
Phillips May 09 LLD 47520960 and 47521182
That’s “dual.”
Smoking Gun on multiple pledging in securitizations 3-15-12:
http://deadlyclear.wordpress.com/2012/03/15/securitized-distrust/#more-1834
Bob
If anyone needs my help im not hard to reach!! LOL
i need help looking into a mbs trust deutsche says they are the owner and holder of the note no assignment of mortgae i can find the trust but cant find prospects, if you e-mail me i will give you all the info.
i was wondering if you can help here 🙂 . i will be evicted on november 13 after the crooked judge hear my two motions(of course as all others will be denied) interesting to note i have 3 forged indorsement signatures (proof with lot of assignments ans some notes), 6 fraud notaries (from commissions)..4 false amounts due…”affidavits” made 11 months in advance..robbed by 4 ex “counsels”..well etc etc…same as the other stolen properties….
ohh i forgot i can find the real party because (hmmm the croocked judge granted summary judgment while discovery ending ..and the rat that was hired did not file any rehearing , appeal….)
anyway i have been searching secinfo and edgar for a clue..but this “bank” is a dissolved corporation since 1996, (funny right? must be funny because the 11th circuit court miami dade judge laugh a lot ….) i really think this “loan” doesn’t exist…
is there anyway to find this info. using the loan number or something ? or someone having the famous bloomberg terminal????
please let me know/…..
NWIHEGH
ive been done lookin 4 a long time!
try her at 1800 ho lol
The outrage continues. Bloomberg news reporting that when we were all losing our asses in the manufactured financial crisis, The Fed was lending billions from the discount window to foreign owned and operated banks. The proof that these foreign owned and operated “banks” really act as one sleazy bank.
http://www.bloomberg.com/video/68206402/
http://www.bloomberg.com/video/68209994/
Ok folks. There is someone on another site that has posted his letter to the 50 states AG. In it he states that he can research, via software, the actual accounting of the trusts. (States he can see balances, escrow payouts, delinquencies, etc) Anyone know what the name of the SOFTWARE or WEBSITE, or how to access that information?
In particular, I am looking to see what funds were received by the Trust (if any) via CDS, or TARP, or ? (And how those funds were applied, and or if the Trust is even in existence today)
Any help would be greatly appreciated, and passed on if you like. I am getting close to the date, and need more ammunition.
As always, Good Luck to all. Be well.
I do not know the software, I think that one of the guys is just doing database searches. The person I know of can be found on Living Lies.
He can not guarantee results.
ALSO, everyone, just because you find a supposed spreadsheet of loan-level payments, do not assume that the money actually gets to the investors.
Just like I have seen it stated over and over that the investors never see the proceeds from a foreclosure, the loan-level detail may also be bogus information.
Dear @Mad as hell in Maryland,
TheHutMaster has also been collecting data on several fronts, to include NPV and AVM.
I made a pledge 3 years ago to “Let The Computers Win This War”
Well, as most of my business envolvment being on the “Bleeding Edge”. I am in this with bandwidth, my own Rack Room, and all the trimmings to see this vision through.
“Fight The Good Fight”
How do I reach you privately? May have what you are asking about.
Sorry, wrong post, disregard. Thanks.
NO, this was correct post, I asked, are you on Foreclosurehamlet? If so, would you look me up there, same name, or maybe try contacting me through 4closurefraud.org, he hopefully would put you in touch with me. Thanks!!
WHAT WORDS DO WE SCRIBBLE ON THE MAIL?
You can also go here to learn how to find your Pooling and Servicing Agreement
http://www.loanclosingauditors.com
This looks like UNFAIR and DECEPTIVE PRACTICES prosecutable under the RICO ACT.
I think you guys are really on to something here. I cannot even find out where the trust for my home is hiding. I can’t find it at the SEC and the bank website booted me to Bloomberg HSBC RBS investments webpage. There is so much fraud everywhere. There are soo many who are dirty. The corruption is more rampant than the mortgage fraud. It truly is, a house of cards and the Government knows it. If they start pointing fingers the finger of blame will find its way back to the accuser. The Frauclosures need to stop, the people have paid more than enough for this giant ongoing PONZI SCHEME and cover up.
I would also like to know how to find the individual loan numbers in a Trust. Did the report on this site come from a private company report on the Trust. I can find the Trusts that are on foreclosure documents (sometimes) but have never been able to find the individual loan number. This would be so helpful in a court trial and give stronger link. DOES ANYONE KNOW HOW TO GET THIS INFORMATION?? HELP!!
This could be a duplex, two non owner occupied purchased and or refinanced on the same day…. the investor/realtor /developer side of this was running amok with this stuff in red-hot markets. Not every fraud involves an innocent bilked owner-occupied refi or purchase. It really would benefit your investigation to call the register of deeds or clerk and recorder where the property is and verify the legal description… what the pledged collateral, is. Might be fraud, but I am betting on a unit a and unit b not that it might not be fraud. This is an easy bit of legwork to add nails to your work at building a coffin. Great work, by the way!
And I am betting it is not a duplex…probably an apartment building…it is fraud….you will see more of this….
Chief makes a good point, which could explain the “other” description (I don’t think there is any way it could be an appt building because its a stated cash out at 70% LTV and that it looks like it is a standard, not commercial, mortgage pool).
My only problem with it being a duplex is that it seems to be underwritten by the same lender (on a non conform, $2.4 mil valued duplex, stated cash out, with matching ARM’s & prepays you would just wouldn’t have the exact same IR with different lenders) and I’m pretty sure the second unit financed, even simultaneously, would take a hit to price/rate.
Question….
How can we help find examples of this in other MBS’s ???
Maybe if we find enough double pledging we can open the flood gates.
It would definitely explain the why in regard to false records.
Personally I think the FED is directly involved in this and a good percentage of mortgages where ledged to the FED an old into the market.
The FED has a borrower in custody program. o the bank never need to turn over the loan doc’s they are simply subject to a periodic on site audit.
Take that same loan and bury it into an MBS an no one is the wiser. Especially whn you never actually forward the paperwork.
The double pledge is the missing link.
Two other things I’ve noticed about this loan:
1) The borrower got totally screwed by the LO/Broker on this loan. If you look you’ll notice that, while the interest rate will reset in 6 months (its a 6 month LIBOR), the prepayment penalty is for 36 months. This loan wasn’t designed to be paid off.
2) This loan REEKES of appraisal fraud as well, most likely managed by the LO/Broker with the tacit approval of the lender.
…the spreadsheet. The probability of them being dual pledged increases when you look see that the property type is “other”, not a SFR or PUD (which would make up the majority of the loans). The “other” is very curious. I’d like to see Aurora’s underwriting specs for that time period to see what types of structures they considered “other”.
This couldn’t have been purchases for the same exact house. They were both cash-out refi’s (Column’s S & T) in
Meant to say they couldn’t have been purchases for exact properties as they are both cash out refi’s.
Where did the refied ‘cash’ go? Is NNank fo Commerce GA, shut down by the Feds in 1008, a model? How many were indicted? Cant seem to find out anything beyond that of a crooked loan officer. Is something hiding in this fraud we can use to see others?
There may be a misprint in the written report above the screen shots. Based on what I see in the screen shots, it looks like ‘both’ properties had the same interest rate of 9.75 but the report says:
Loan Number 47521182 – 9.95
Correct, the post needs to be corrected show 9.75 on both loans, I think it was a typo by foreclosure fraud.
I am wondering what an ‘investor occupied’ property is. I am on a steep learning curve here but if this was the way the loan was transferred to the MBS, it appears this was an Investor’s loan whatever that means. Could it be a friend or relative of the lender..someone connected to someone.
If this is just the terminalogy for a rental then they have just changed the name. Before MERS we just called investment/rental property loans ‘non-owner’ occupied. I need to look at the rest of the docs and see if I can make sense of them.
Good job FF I am sure you are on the right track. Knowledge is Power…Power to We the People!
I guess that is what they call a non-owner occupied as I didn’t see it mentioned otherwise. My eyes are bleeding……….
HUH:?
YOU KNOW IM DUMMER THAN AN OX WITH THAT STUFF J– USET EFFIN EXPLAIN IT TO ME,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Wow! Great Job! How do I ferret out the details on my trust? I read that there is a way to see the actual trust accounting via some software or web conduit open to entity-trusts, or , ‘licensed users’. Please, a step by step on this.
I am in the middle, actually towards the end, (Have a show cause hearing here in Maryland where the Judge has asked an infamous Robo-signer to appear. Scheduled for 6/2/11) The lender side seems panicked, hired a high priced, bully law firm to jump in at the last minute as co-counsel, and seems to be trying to fast track either a dismissal or, another bite at the apple.
ANY help in my search would be greatly appreciated!
By the way, my supposed trust is: Merrill Lynch Pass-Certificates, Series AF2-2006
(Note was originated by Silver State Financial, supposedly transferred, (A-D) via un-dated, photocopy of ‘allonge’ to Hsbc, trustee for Merill Lynch (mabey mortgage) Pass-Thru Certificates, Series AF2-2006. Stamped in the right margin of the page.
I do know my supposed loan, is 1 of 5 maryland loans.
GOOD LUCK TO ALL.
Mad as Hell… Do you have any affidavits filed (or know of any) in your case (or others) that were notarized in the state of MD? Especially this year, but anything within the last five years, especially those of W-F, but I am looking for ANY by MD people. Thanks!
How can I reach you privately? Might be able to help. Are you looking for signatures? Or?
That would be AWESOME!!! Are you on Hamlet? If so, look me up under same name. If not, I’ll see if 4ClosureFraud wouldn’t mind being middle man?!?!?! Let me know which way works for you…
Mad as Hell in MD – – did you see my message? Are you on FH? If so, look for the same name. If not, maybe we can connect through 4Closurefraud????
Hah! Wimps! Only double-pledged?
http://www.secinfo.com/$/SEC/Page.asp?P=1125282-4-4741-1-26-190749
The last line of this page says “limited documentation.” That amount is 4 times the balance of the one actual loan’s principal balance at the time that the prospectus was written.
It is really difficult to locate loans in the big states. I like to look at the lines in the prospectuses that list states with only 2, 3, or 4 loans. (Then divide by 2, 3, or 4.)
Remember, when these trusts closed–I think the depositor was ONLY paid something like 103% of the principal balance. They needed a little more “cushion.” Bentleys, hookers and blow don’t come cheap, you know…
I wish I had time to write more. I hope you all keep looking for the multi-pledging. It’s a thing.
This thing is multilayered and complex with many a pretzel twist!
Where do you start in finding the location of the original loan, and then when it was transferred to a new servicer?
What does it mean if the original mortgage was registered through MERS and electronically at the court house?
When it was transferred to another servicer it was not registered at the court house.
Greed plus the arrogance of power equals sloppy theft. Let’s find a few thousand of these; anyone out there know enough about search engine customization that could expedite a search through reams of data to find these?
All you need is to read in the data as card image ,, put it in a standard format and sort it … you could get real fancy with the coding but just quick and dirty putting it in order where human eyes can interpret it will get you results faster.
Hi:
My case is very similar to this one, my loan is with Aurora Loan Services and the Trustee is US Bank.
My foreclosure has been dismissed without prejudice and no news from Aurora.
They sent me a letter 4 days ago saying that I have to pay all the money that I own them.
My loan has been transfered after they file for foreclosure in court, any idea ???
thanks a lot I’m in Miami, Florida.
They couldbe committing mnail fraud if they continue to send bills to you if they dont own the note or responded to the QWR…return the notice to them and scribbled these words on it …
Great point, yvonne!!!!!
Can you please explain how to get into this? I am looking for my trust and I did find a few on the sec filings like the PSA but dont know how to get the info that lists the loan # and balance
Some companies show the loan numbers on the filings, others only show the loan numbers on the monthly reports to the trust (if this is actually ever provided to the investors is another STORY).
I happen to have a different way of knowing the supposed trust that mine was supposed to go into. It just never REALLY got there. Court responses have identified that supposed trust.
Something I have noticed even for that pool: it had 3 groups and for each group,and for each group the high-value loan was one of $660K. This was not the top possible number, it just was the top value of a loan in each of the three groups, by coincidence? HMM? One such is in the fixed rate group 1, another of that same amount is shown in adjustable rate group 2 and on some materials, a third for the same initial amount is shown in another adjustable rate group 3 of mortgages in that pool. It is difficult to trace back thru the ‘month statement’ info to find all three of these. Has anyone else seen something similar? How do I ferret out the other 2 loans in this mess? Yeah, the one supposedly known entity is mine.
The rules were stricter for each of the higher cost/higher risk loan groups. They needed to meet different LTV and debt ratio and credit score criteria. I really question that all three groups in the pool would have the same top loan amount for a single loan.
(Hell no) I see the same in my pool, or what the tell me its in, I cant find anything close to my loan amount, my state has 150 or so loans listed but nothing to seperate them, the last filing was in 2006 and the investers were at 33! way below 300! I dont think my trusts exists anymore. everything is 2006 and nothing filed since then????? go figure….
Mrs Doutfire, there is an excellent article on Matt Weidner’s Blog that explains how to do this. The article is entitled: Finding Pooling and Servicing Agreements is Key to Killing Your Foreclosure Case!!! Best of luck!!!!!!!
How about another excuse … One mortgage for $1,680,000 that got split into two.
jal
WOW
Duel loans? Dueling loans?
Perhaps *dual* loans, although duel is often apropos when things go to court.
ID SAY QUADRUPLE!
by that you mean… you cannot trust the Trustee who’s in court trying to confiscate a home on behalf of a trust that is in bankruptcy, being dissolved or in many cases, dosent even exsist anymore – yes! they all know what they are doing and its called RACKETEERING! even the judges know. also double check the cutoff date for the mortgage that should have been registered in a timely manner – I bet it wasnt. and by the way the SEC dosent care either. their response is “we dont track mortgages” that are purportedly registered with the trust
Times how many loans? Is this how we end up with 500 + trillion dollars worth of derivatives in the island sanctuaries?
well lets see, there is forced placed policy insurance; a mirror loan, TARP, HAMP, Private mortgage insurance; underwriting bonds; HUD $; Fannie Mae$; the actual payments and yes – i was able to trace my underwriters bond to an offshore account in the bahamas! and this is just what i know of. imagine what we dont know.
You mean we cannot trust the Trustee?
Mario , ya think….of course you cannot trust the trustee you cannot trust anyone that is involved
these people involved are afraid they did all this not to lose their jobs you were had you guys are finally waking up,,,,you will see the IRS has soon too….WAKE UP don’t be afraid of the government this
is intentional all planned no onw is on your side just imagine what you don’t know that you don’t know
and we are giving money to poor countries it is your money , your house payments your salaries
Well then they should not call themselves a Trustee, if they know they cannot be trusted.
Ironic isn’t it looks who is calling the kettle black …humpty dumpty sat on a wall humpty dumpty had a great fall…they should be called crooks because that is what they are has anyone looked up their backgrounds has anyone looked up anyone’s background that they do business with?
The Trustee cannot be trusted
this is called a mirror loan – and yes this is fraud X2. you should also check SEC’s website to see when the company filed a 15K – which means this trust has been dissolved.
which company originated these loans?
YES WHICH CO?
you need to go to the original deed of trust and there should be a lenders name on it. that is the pretend lender who should have gotten a corporate assignment deed of trust signed, they propbalby did but the notary is robo signing, the form did not meet the deadlines and fake exes probably signed off on it