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  1. I recently attended a mortgage closing, at the invitation of one of the parties. The mortgagor dutifully reviewed and signed the 29 pages of mortgagese, the mortgagee was not present. I suggested we just write ABSENT – UNKNOWN REASONS in his spot, but everyone agreed he could just sign all the stuff later. Who would know who the notary might be. We came to the ten-day rescission and I suggested that be marked out and changed to three years, in accord with most recent SCUSA guidance, but nobody was familiar with the process of changing a preprinted agreement, so we skipped over that one too. In reality, I had a suspicion that the mortgagee had already assigned the Interest Rate Lock Commitment into a Collateralized Debt Obligation, and had already surrendered his individual collateral rights to any discrete parts of the CDO. I knew the new owners of the CDO had also renounced their individual collateral rights as defined by their investment prospectus, and the cash flow into the package was insured to AAA+ standards. Or at least BBc-.
    In actuality, after securitization, NO ONE owns your property. If you live in it, care for it, and pay taxes…YOU OWN IT! Tell the sheriff to go home (actually our sheriff lives right next door to me). Everything after securitization is a SCAM, among free, knowledgeable, and over 21 investors. If someone appears to dispute this fact for more than $20, take your case to a JURY. Sue the bastards!

  2. cookie says:

    Quick question, under the law a lender must give 90 notice to the borrower before filing a notice of pendency. Is this 90 business days or calendar days? The loan that is in question now has been sold! it gets better and better…

  3. Denise Maher says:

    My bottom line is- is the mortgage loan being paid? Generally, with foreclosures, the answer is no. Billions of dollars in defaults across the land and everyone wants a free house. I’ve worked in the foreclosure field for years and I’ve heard so many allegations of false documentation and most of them, if not all, were nonsense. If you’re past due, you need to rectify it, by either bringing the loan current, selling the house, refinancing or something else equally responsible. It’s hard to respect someone who spends years (in some cases) not making a single payment and then complaining about documents.

    • TonyP says:

      You have no clue what you are talking about. Is the loan being paid ? I think the better question is why is it not being paid and who fault is it. Second, yes the bank is being paid because they have mortgage insurance that pays the full value of the loan soon as it is in default. This is why AIG almost went bankrupt, insuring these bank loans.

      So this is what you get. The banks gets paid by the homeowner for years, until they can’t afford the bad loan terms and default, then they file the insurance claim and get paid face value of the ORIGINAL loan amount, then they take back the home and re-sale it at auction for even more profit. Hold on…it gets better! They have a judgment against the homeowner, so now they can go after them financially and get even more money!

      Now do you see the game, it’s more profitable for the bank to foreclose than to modify. Wake up!

      Moreover, if the banks had followed the law, they wouldn’t need to make fake documents! You think everyone wants a free house? WTF? 99% of people just want a FAIR modification, Since you have been in the foreclosure industry (kicking people out of their homes) for years, then please tell us how many times have you seen ANYONE get a free house? Rarely! If “everyone “ in foreclosure wanted free homes why are MILLIONS accepting BS modifications? You are ignorant to the facts. Sad that you have been drinking the bank’s Kool-Aid to believe those lies. You work for the worst crooks to grace this earth.

      “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs”.

      Thomas Jefferson,
      3rd president of US (1743 – 1826)

      • Lms52 says:

        Nobody could have summed it up better not even Garfield. Plain and simple. They preyed on us way over valued properties and the loan mod was a scam from the get go. These large banks are nothing but bullies and greedy and dumps the liability on the homeowner for all of their well planned criminal actions. That b#### that thinks she knows so much needs to rot with the best of the banksters.

      • Lms53 says:

        The banks years and courts think they can justify their criminal actions by calling the homeowner a deadbeat and funding the local scummy court system to foreclose. We r smarter than that!

      • BOBBI SWANN says:

        Tony & LMS52 – both responses are excellent but you will never receive satisfaction that this numbskull who responded above will EVER come out of her coma. Just take note that the majority of the population are one of two things: 1) totally ignorant or 2) in the same state of coma that this woman is currently in. We all hold hope, as you would do with anyone in a coma, that they will ‘awake’ and come to their senses. LOL

    • ??? so you did not hear what made most of the credit savey people stop paying their mortgages really? the banks were telling millions of homeowners that in roder to apply for a modification they had to be 90 days late. because of job losses, and losses of income homeowners complied. after the 90 days applying. the the games began, lost faxes, lost fed ex mailers, even lost files. everything and anything to not approve modifications. then they foreclose. so this is actually inclean hands, breach of contract. ect. they were given money for each hamp application homeowners filled out. telling homeowners lies and losing documents so homeowners had to reapply is fraud sorry. i can say no homeowner after the subprime mortgage crash in 2008 would voluntaruly stop paying tie rmortgages. after 2008 many of the mortgages were the 30 yr fixed mortgege these folks had the best credit rot hey could not get approved. these folks were given false statements by all the banks. free house???? the homes all lost more than 50% equity. many put money down and paid for years. the homes they have already been paid for. help homeowners dont be against homeowners

    • rogerrinaldi says:

      The notes live on regardless of whether or not the original borrower pays Read the note and notice it says “we are responsible” for the payment.That WE is the maker and the originator (seller). And with a fraudulent foreclosure, the homeowner is doing nothing wrong: he’s obligated to defend the title against false claims. The real party in interest is always the owner of the top-tier of the SPV. That also happens to be the servicer.It’s the intermediary relationships spelled out by the PSA that were never followed is what makes the transactions boid ab intio. Denise, there is no default . only servicing into default with the manipulated LIBOR rates application of fees collected by the servicer. The whole origination of “money” from digital “credits” supplied by European banks combined with investor money used to purchase assets that were never conveyed to the trust corpus was simply another variation of a securitization scam based on Ponzi scheme tactics. Wise up, Denise. Or are you a banker?.





      BECAUSE YOU SOUND LIKE A MORON! ..(a person who is notably stupid or lacking in good judgment)






  4. usedkarguy says:

    First of all, you’re in New York. The judges are awake. second, you should hire an attorney. Once the phony documents start appearing, contest all and every document.

    • cookie says:

      yup, have an attorney, but working with them…
      the “lost note affidavit” has not been filed. and now they say they found it.
      The judges are awake, thankfully. The system just seems to take forever

  5. cookie says:

    Hi everyone, anyone know if it’s required to file a lost note affidavit or lost assignment affidavit with the county clerk’s office in New York? Still dealing with a fraud case.. long story, but this bank gave us lost note and lost assignment affidavits but they aren’t in the county records. Oh, and they suddenly “found” the note and mortgage too. hmm

  6. dangeroosdave says:

    Useful notes about fees- Occasionally you will reach a watershed moment in your court dealings and a judge somewhere will authorize your counterparty to submit his fees for payment. You should always audit these fees to determine if they are usual, customary and reasonable, and that a service has in fact been rendered, and in fact a payment has been earned. Step 1 is to ask your counterparty for his letter of engagement with his customer. That generally ends the conversation. My counterparty’s client expends $50M per business quarter on legal services (which I know from reading his 10K report to the SEC), so if his client has already paid his fee (such as bulk purchase of undefined services per time period), I believe there is no need for me to pay it also. Double billing is always against the law, even for New Jersey eye doctors. If you do agree that the service has been provided, and earned, look at the value. For instance, we all pay $0.10/page to look at filings on PACER whenever we’re curious. That’s my maximum payment for a page of legal cr*p, whether it has been couriered across town or not. Nobody pays for e-mail, at least nobody I know. Could that page of legal cr*p have been e-mailed? Don’t pay anything. Whenever I do make a payment, I pay through PayPal, with a description of the bill, my audit findings, and the payment. That way everyone has a record, and the business dealing is transparent.

    Since I’m not an attorney, and I don’t have a billing rate of my own, I just charge 1 bitcoin/day for whatever I do, for however long I do it. I find it reasonable, and bitcoins can go right to my phone, and I can get it whenever I want in whatever local currency I need… Sometimes these things take years. Costs pile up.

  7. lms53 says:

    cookee, legal term is called Novation.

    • cookie says:

      great info hammertime. And dave, thanks for the servicing regulations. It took me a long time to read ..but will certainly come in handy. Thanks so you all for great links.
      My statute of limitations is over so now the lender is trying to use other tactics to scare us. my attorney asked them why, if they are so confident that they own the mortgage, haven’t they filed a foreclosure? they aren’t the IRS, they can’t just keep tacking on interest and penalties until they see it’s time for a payday. My case is odd because I am representing the borrower and the borrower is suing the lender. (very few cases I can find in NY that I can use as precedent). The banks aren’t used to being sued, they like being the big guns..
      Once the court determines who, if anyone, is the true owner of the note and mortgage, it’s time to file for a time barred response. I am grateful for your input. I hope to return the favor

  8. hammertime says:

    Here’s another case with lessons learned. TX seriously needs a homeowner’s bill of rights.

  9. hammertime says:

    Very spot on post by Garfield today that verifies what we’ve been saying and can help in court, trial by ambush, due process violation:

    “…There is a huge difference between pleading and proof. AND standing means different things depending upon what you are looking at. If party files a complaint alleging the requirements of standing then the complaint will stand up to a motion to dismiss based upon standing. But if at trial they don’t prove standing, they lose.
    The erroneous procedure I have seen at trial is that the standing issue has already been decided when the borrower filed the motion to dismiss. But that required the court to assume the allegations of the complaint were true —a presumption that definitely does not apply at trial. But Judges use it anyway because of the pressure to clear their docket. As a result, cases are not heard on the merits — they are tried by presumptions to which the banks and servicers are not entitled to use because the testimony and the exhibits are fabricated for trial and they have a long history of submitting fraudulent documents to courts across the country.
    Hence the presumption of credibility, trustworthiness and authenticity should not apply and the servicer or bank or trustee must be required to prove the facts, which they cannot. Which is why the foreclosures all mostly wrongfully entered as judgments end up in a judicial sale despite the actual facts that would show that none of the parties in the chain relied upon by the foreclosing party actually have any interest in any of the transaction, any of the documents or any actual loan to the borrower.”

    Case doc

  10. hammertime says:

    Good example of what we should be doing as a group

    “Foreclosure victims to demand money from settlements”

    Golden opportunity to enforce the rules if being tranferred or getting loan mod, refinanced

    Mortgage servicing loan means a federally related mortgage loan, as that term is defined in § 3500.2, subject to the exemptions in § 3500.5, when the mortgage loan is secured by a first lien. The definition does not include subordinate lien loans or open-end lines of credit (home equity plans) covered by the Truth in Lending Act and Regulation Z, including open-end lines of credit secured by a first lien.

    d 3

    (3) Notices of Transfer; contents. The Notices of Transfer required under paragraph (d) of this section shall include the following information:
    (i) The effective date of the transfer of servicing;
    (ii) The name, consumer inquiry addresses (including, at the option of the servicer, a separate address where qualified written requests must be sent), and a toll-free or collect-call telephone number for an employee or department of the transferee servicer;
    (iii) A toll-free or collect-call telephone number for an employee or department of the transferor servicer that can be contacted by the borrower for answers to servicing transfer inquiries;
    (iv) The date on which the transferor servicer will cease to accept payments relating to the loan and the date on which the transferee servicer will begin to accept such payments. These dates shall either be the same or consecutive days;
    (v) Information concerning any effect the transfer may have on the terms or the continued availability of mortgage life or disability insurance, or any other type of optional insurance, and any action the borrower must take to maintain coverage;
    (vi) A statement that the transfer of servicing does not affect any other term or condition of the mortgage documents, other than terms directly related to the servicing of the loan; and
    (vii) A statement of the borrower’s rights in connection with complaint resolution, including the information set forth in paragraph (e) of this section. Appendix MS-2 of this part illustrates a statement satisfactory to the Secretary.

  11. hammertime says:

    Good post on CFPB transfer checklist down there.
    Here’s a link to what CFPB has done with OCwen etc and could be doing. Good description of violations.

  12. eugenenj says:

    To Cookie: Correction, IndyMac Mortgage Services. Check to see if they have authority do business in your state. Attorneys licensed.

  13. eugenenj says:

    For Cookie,
    An alleged Lender(Servicer) makes agreement with the alleged Holder/Owner to the servicing rights who in turn subservices the rights to another servicer with agreements with the subservicer. As an example, JPMorgan Bank, N.A. used Chase Home Loan Servicing, LLC as its subservicer and OneWest Bank, FSB used IndyMac Bank, FSB as its subservicer.

    • cookie says:

      Thank you Eugenenj. When I requested the servicing agreement between the two lenders (to substantiate the power of attorney because one signed the assignment on behalf of the other via an allonge) they sent me a sub servicing contract that added yet another name to the pile. The date didnt align either, so I have to tell the court we are still awaiting on the servicing agreement. Im not sure how anyone makes money hiring servicers that hire servicers! (sounds like reinsurance companies)
      Thanks again!

  14. cookie says:

    Can someone tell me the difference between a servicing agreement and a subservice agreement? I asked a lender to supply a servicing agreement through court order (to substantiate a power of attorney) and they supplied a sub servicing agreement that implicated yet another lender.

  15. usedkarguy says:

    you must have something if they’re using this tactic. Stay on it! Get an attorney

  16. Janine G. from PA says:

    Wondering if Mers can assign a mortgage servicer after a borrower is deceased. No lawyer yet has really responded – anyone know? My husband died in May, and no servicer was on record, just Etrade in 2003 assigning to Mers / so boa was getting paid as servicer for 12 years – now I brought it up that they have never been assigned. So they quickly did it in Nov. (4 mos. after his death). I am not on the Note, just signed the mortgage inst. but I am not on the loan. I received a default notice, but my qwr’s have stalled them from filing the complaint. Does anyone think it is legal or allowable? They didn’t mention my husband as “deceased” on the assignment – and put him as a grantor – as if he was still alive and granting something.

  17. Angel says:

    Goodmornin yall:-) I’m at a cross-road,,STILL in litigations & the stall tactics are becoming frustrating to say the least,,,I’m pro se & plaintiff’s counsel continues to add new co-counsel to assist them,how many times am I required to submit discovery? Because every new co-counsel added are demanding me to RE-ANSWER everything already asked/answered to plaintiffs lawyer at beginning of this? 2011.Thank You in advance for responding:-) :-) :-) :-) :-)

    • John says:

      usedkarguy is on it!
      Get an attorney, and question everything! ( Signers, dates, validity of copies, transfers, account balance, and see if you can get loan level data to refute their “balance”.)

      Good luck with it, Be well, and keep fighting!

    • cookie says:

      Typically, in the discovery process, the judge will review what has been requested and what has been supplied.IN NY , and in my experience, if all discovery has not been supplied, sometimes the judge will allow additional time for the defendant (or plaintiff) to supply it. If all documentary evidence has been proffered, then perhaps a preclusion motion is in order. The order would ask the court to accept the discovery already provided and nothing further. It doesn’t sound right..why would the court allow new discovery requests for the same documentation if it’s already been supplied? Are the discovery requests asking for new evidence?

  18. lms53 says:

    bobbi, based on what law is acceleration void if makingpayments

    • ClaireF says:

      I am so confused by this situation in NY. The original lender filed foreclosure, accelerated the mortgage in 2005 and then assigned the mortgage (while still in foreclosure) to another bank and then has been assigned several times. The county clerk only has record of the first lender.(this lender is no longer in the mortgage business)
      The loan has been in default since 2005. The house was destroyed in hurricane sandy in 2012 displacing the family The house remains in a pile of rubble but maintained by the homeowner.(lawn mowing, etc) The insurance company does not know who to write the check to.. (a sizable sum) so the lender is now saying they are entitled to the proceeds. Homeowner starts an action (otsc ) against purported lender(s) citing time barred under statute of limitations Our attorney is arguing statute of limitations (time barred) because it’s been nearly ten years on the same index number and the loan, although assigned several times (with suspect paperwork) was ACCELERATED at the time of the original foreclosure. The foreclosure action was never completed. It expired. The lender then filed a discontinuance on the foreclosure in 2009. The lender is stating that a stipulation agreement in 2009 re started the loan and therefore the loan was decelerated. The stipulation hinged on a modification that never took place or was paid on.

      The borrowers attorney states that the original acceleration remains in effect because it was never officially de- accelerated.
      HERE LIES THE QUESTION: what formally de accelerates a mortgage? The lender never sent a letter stating deceleration. The lender has not filed foreclosure (and was told by the court that they could). The lender’s attorney said that if an installment loan is in effect that it is assumed to be de accelerated. I found two cases that were of interested, EMC bank v patella and another from nassau county… but they dont really apply here because the plaintiff is the borrower, not the lender.
      Im sorry this is so long. If anyone is still reading this, thank you. This case is very convoluted.
      THis family wants to obtain the insurance funds to build the house and move forward, in the meantime legal fees and rental fees are almost prohibitive.
      Any thoughts? I am actually trying to keep this as brief as possible without naming banks, etc..
      THANK YOU for listening..

    • BOBBI SWANN says:

      @ lms53 – Law? No law. It ‘s contained in your mortgage. It is the mortgage document that a lender forecloses on. It is the process itself by law that allows them to do so. Your mortgage dictates who, what, when and how. If there is a default under the note or the mortgage, the terms of the mortgage is going to dictate how they proceed. If under such a default, the lender will issue a default letter and accelerate the balance of the mortgage to be due and payable. Also, under the mortgage there is a ‘right to cure’ a default. If the lender accepts payments, other than the full amount of the balance due under the default letter, it is a precedence for making null and void the acceleration. If Lenders were to do it the correct and legal way, they would issue a forbearance agreement that spells out the terms of the default, how it is going to be cured over a specified time, the amount of the future payments under such forbearance, a start date and an end date and signed by all parties. If they don’t…well, then the original default becomes mute.

      • lms53lms says:

        thanks bobbi I was in forebearance for 8 mths and then trial mod and then permanenent loan mod and bank reneged at the same time they accelerated my note/mtg. they changed the terms of original mtg thru the loan mod. Novation is the legal term. do I have recourse?

      • cookie says:

        I think I understand. The original mortgage language needs to be read and understood. If there was a modification changing the terms of the mortgage, that would override the original mortgage. Wonder what the judge is going to say. If the statute of limitations is up, it’s up. It sound as though (depending on when in 2009) in 2015 the statute of limitations is up anyway (six years in NY)

  19. Cookie says:

    Still mired in a big mess. I have a question that was brought up today in New York. Can a bank assign a note of mortgage to the servicer to hold the note but still be the owner of the note? In other words, if mortgage is accelerated and payments are made, they go to the servicer who then gives it to the bank who assigned the note to the servicer? I know this is so confusing, but it doesnt smell right

    • Sheryl says:

      The banks assign your mortgage to a servicer (the hencemen)…the bank still ones both the mortgage and the note…

    • BOBBI SWANN says:

      Cookie – A lender or owner of a note can sell the ‘servicing rights’ on a mortgage. That does not mean that they are relinquishing ownership of either the note or the mortgage. They are simply transferring the right to collect the monthly payments to another entity. You don’t have to have it recorded of record either, but they do have to provide you with a notice of Change of Servicer 90 days in advance. You also do not have the right to object. As to the mortgage being accelerated, that only occurs if there is a default under the mortgage or in the payment of the note. If they accept payments in an acceleration, then it would negate the acceleration all together. In order for them to accept payments they would have to negotiate with you some repayment such as a forbearance agreement or a loan modification. The monthly payments that you make to a servicer of your mortgage would remit the payment to the lender. The lender pays the servicer a fee out of their profits on the ‘spread’ each month. It is all perfectly legal, except if they are accepting payments when the mortgage has been accelerated and you have rec’d notice of default.

  20. hammertime says:

    Anyone recently have Chase loan transferred to Pennymac?

    • BOBBI SWANN says:

      Yep! Going on 8 years in fighting foreclosure….they sold the loan and servicing to Penny Mac. Go figure! Oddly enough, they never filed any type of assignment in the county records. Why do you ask?

      • hammertime says:

        Since loan closed in ’07 Chase has claimed to be servicer and lender in one form or another. With CA HBOR I was able to obtain questionable note copies, 1 of them 6 years late still not valid in late ’13. That’s when city, whole world turned their screws on me. In latest rounds I used Cease and Desist in reference to CA HBOR and settlement violations. First the lawyer changed and then servicing changed this month to Pmac.
        CFPB is now LESS responsive. I believe Chase is evading law by these late transfers and CFPB is ignoring it. I would like to show it’s not just me and make some type of group complaint to CFPB and copy anyone we can.

      • cookie says:

        8 years? isn’t the statute of limitations over?

  21. dangeroosdave says:

    I’ve found that an inquiry from a Senator to CFPB, or any agency, moves your case to the top of the pile pretty quick. The CFPB today is like the FBI in 1930, just a little seed. I copy all 100 Senators with the major filings in my case, just cut and paste into their mailbox. Most of them don’t read, but their staff people do, and everyone has lunch with somebody and talks with somebody else about anything of interest. If your agenda fits with their agenda, sometimes good things happen. It’s an uphill battle against financial people.

    • BOBBI SWANN says:

      Ya know, I read your comment and my first reaction was…how sickening is this country when tax payer monies are paying for the salaries of these ‘staff people’ and we the taxpayers have to wait until someone strikes a conversation over a McDonald’s hamburger and coke before action is taken that perks one’s interest. What’s even worse are those in those positions (senators, congress and all the staff members) are the highest percentage of a group that OWES the IRS taxes! Yep! So, even THEY don’t pay their fair share and living off the backs of the taxpayers who funds their paychecks! It is disgusting. As much as I hate to think the worse, I think this country is headed for a massive revolution. There’s not one person in office that has the guts or integrity to stand up for what is right and declared in our constitution.

      • Lms52 says:

        Amen to that. They r all pathetic. CFPB may get a situation escalated momentarily but nothing gets accomplished. Banks are liars and their responses are lies.

    • Hammertime says:

      Very good point about FBI. I may still be In my home because of CFPB but there are real problems and it may be captured by banks at some level. It’s another trap we’ve caught in but some faith was restored when Sen Warren questioned Cordray along with others. We don’t need a revolution. We need to re claim our democracy. The corporate Republican and Democratic solution will be no regulation again and next crisis will make this look like a picnic.

  22. ldynps says:

    I’m so laughing!! Good luck being granted a jury to even tell…..Hahahahahahah!~!!

  23. Dave McCrae says:

    Scott- Are you uncertain of the meaning of prejudice? You can find long scholarly articles, and have lots of lawyers dancing on the head of that pin. Why not just ask the jury? Present your facts. Tell the jury to deliberate on the issue. They are bound by only one rule in deliberations, and that is the rendering of justice. That responsibility used to belong to the King, who talked with God. In America, we turned that system upside down. Just tell your story to the jury. :)

    • Trevor Hitchin says:

      Dave… just read your news about CFPB…reserves being set aside etc.
      This is you….all you. It’s a forward leading indicator. I’m dragging Met Life et al…into the courts…those bastards committed perjury. . And now they will pay for what they stole.

      Never lose hope. Ever.

  24. Dave McCrae says:

    Scott- Make sure youi send me a subpoena to talk to your jury. I’ll subpoena you to mine. There is no enforcement going on in America right now. Let’s fill up every courtroom in America, one by one. Stay sharp-

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