Suntrust & BoA Securitization Fail = Fraudclosure + More Unendorsed Notes

Suntrust & BoA Securitization Fail = Fraudclosure + More Unendorsed Notes

Posted by L

FHFA v Boa lawsuit here includes a tranche/class of the REMIC Bank of America Funding STALT 2005-1F.  The payment stream from loans in group 4 were in the tranche that is part of this lawsuit.
Blitz Home – Docket here.


Loan #143852385 which you can see on the scanned first page of the mortgage.  You can let this page load (takes awhile) and then do a search for this loan number in the SEC 2005 trust document detailing loan level data for this trust.  The loan number is listed several times, showing many different characteristics of the loan.


Wells Fargo NA as plaintiff bank (I *assume* that Wachovia as trustee had gone under and Wells Fargo as securities administrator took over the trustee duties until US BANK could formally be the successor to Wachovia as trustee but I could be totally off base)

LOST NOTE AFFIDAVIT with copy of unendorsed note

Assignment from MERS/Suntrust to Wells Fargo

then Assignment of the credit bid before auction to the US Bank as Truste for the STALT 2005-1F trust

Certificate of Title to the trust

Property appraiser shows sale to third party for $49K.  Did the trust get the proceeds?  Afterall, the property was never conveyed to the trust and the PSA requirements regarding promissory note endorsements were clearly violated.  Property appraiser site showing sale price here



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