The Devil is in the Details: When Did the Trust Acquire the Notes and Mortgages – A Study of 4,580 FL Assignments

BY LYNN E. SZYMONIAK

Courts will be deciding issues related to the assignments of mortgages and notes for years to come.

Did servicers produce millions of assignments of mortgages and notes to trusts with the effective dates of the assignments wrongly states – usually by several years?

If the original documents were missing, did the trustees, document custodians and accountants report to the Securities & Exchange Commission that they had discovered a failure to comply with Regulation AB, Item 1122(d)(4)(ii): ”Mortgage loan and related documents are safeguarded as required by the transaction agreements.” The transaction agreements, including the PSAs, almost
universally told investors that the mortgage documents – defined as the indorsed note, the mortgage and the mortgage assignment – would be safely kept in the fireproof vault of the document custodian.

Did the securitizers and subsequent trustees and custodians make thousands of false statements to investors and the SEC about obtaining and maintaining the loan documents?

Have foreclosures by trusts gone forward where the evidence of ownership of the note, the mortgage or both has been manufactured by the trusts or their agents?

What is the most equitable relief for investors and homeowners?

The recovery of the American economy rests on this answer.

Full report below…

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4closureFraud.org

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The Devil is in the Details: When Did the Trust Acquire the Notes and Mortgages