Bank of America
JP Morgan Chase
Lender Processing Services
Action Date: August 6, 2011
Location: Jacksonville, FL
An examination of over 5,000 Mortgage Assignments to Washington Mutual Trusts shows that these Trusts (WaMu, WMALT and WMABS) used Mortgage Assignments signed by employees of JP Morgan Chase to foreclose. The most prolific of the Chase signers, all from Jacksonville, Florida, include Elizabeth Boulton, Margaret Dalton, Barbara Hindman, Patricia Miner, Roderick Seda and Shelley Thieven. These Chase employees sign as MERS officers on behalf of at least 30 different mortgage companies to convey mortgages AND NOTES to Washington Mutual trusts that closed years earlier.
In the vast majority of these cases, Bank of America is the Trustee.
Because the original loan documents are missing, Bank of America allows Chase to make up new documents as needed to foreclose. The vast majority of these Assignments state that the Trusts acquired these mortgages in 2009 and 2010.
There are two separate frauds here:
1. not having the documents despite the promises to investors that the documents were obtained and safely held; and
2. fabricating the replacement documents to foreclose.
In almost every case, Bank of America is the Trustee.
Did the FDIC just not notice any of this? There are thousands of these specially-made Assignments signed by Chase employees for WaMu, WMALT and WMABS trusts used across the country.
When Bank of America did not use documents fabricated by Chase to foreclose, it used documents fabricated by LPS in Dakota County, MN.