Lions & Tigers & Bear Stearns – OH MY! Securitization Fail (REMIC in FHFA v BoA Lawsuit)
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.
Case 1 — TORIBIO home – Docket here Property Appraiser here
Loan #143491330 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.
The loans in this trust were originated by Suntrust and are serviced by Suntrust.
The “original note” in the Toribio case (see attached with note and first page of mortgage) is not indorsed at all (securitization fail).
The foreclosure judgment is granted to Suntrust and then the right to do a credit bid is assigned from Suntrust to the trust.
Case 2 — KYLE home – Docket here Property Appraiser here
Again, another loan #144006715 that is part of the FHFA v BoA lawsuit, same trust/collateral group as above.
This one does have an “original note” with an endorsement in blank.
The assignment of bid is (dark humor) assigned to a different trust, BS ABS 2006-ST1 (Bear Stearns Asset Backed Securities (BSABS) 2006-ST1. I looked at the Bear Stearns trust and did not find any evidence that this mortgage loan was there…………but……….hey…………who in the heck really knows………………
Kyle on Endorsed AOB Wrong Trust
Here is another one – same as example 1 above. Castro home – unendorsed note then assignment of bid to the trust.
What’s been called the “American Dream” has become the “American Nightmare” and even though I’m awake, the nightmare continues. There is now an immoral majority; government.
“The will of a deceived populace supports the self-interest of tyrants.” -Dr. Frederick Graves
Reason, fairness and equality were replaced with power, greed and corruption. Woe is “America the Broken” by the powerful and profit driven, at the expense of decency and the value of human life. I pray our creator will set our feet on the path to unity among good men, against bealzibub. Damn the bankers to the pit of hell.
I don’t foresee anything changing in our society without people taking it to streets. The Egyptians have shown us the way! There are no longer three branches of government. Government has been consolidated by the wealthy, for the wealthy. There are too many stupid people who prefer a bud rather than fight for the equality of life. In my 67 years i have never it seen it so bleak! As a Vietnam Vet I realized what a lie we were fighting for. Not for freedom, but for wealth for the military industrial complex. I took it to the streets then. i am prepared to do it again! Why is it that I am hesitating?
In the same lawsuit you can see in (line items beginning at 140) where AIG’s investigation of Option One loans funded by Bank of America in Option One Mortgage Loan Trust 2007-FXD2 … 82% did not meet underwriting criteria… only 18% of the loans should have been accepted into the trust… and I believe that even those had no endorsements .. they were flagged for much bigger errors.
Well………………Does anybody have any doubts about what this is…and….nobody would purposely do something…banks or otherwise…like this passing around wealth….all just to steal and if you do a little math, you realize that they had to all be involved….with govt backing for immunity from justice. It started with Reagan,. became full blown with Bush…and Obama should be impeached….now!
Right on Rob! That is all they are doing is passing around our stolen wealth……. The Feds are doing all of this for the benefit of their investors who are for the most part, as Nye Lavalle and Matt Taibi have reported, OUR ENEMIES……WHERE IS THE JUSTICE FOR THE AMERICAN PEOPLE IN THE BIGGEST PONZI SCHEME SWINDLE AND HEIST OF OUR WEALTH IN HISTORY????/…….How can it be that these fraudsters are being sued by the federal government for MASSIVE MORTGAGE FRAUD and they are still being allowed to fraudclose on homeowners…..???? THIS IS OUTRAGEOUS BEYOND BELIEF…!!!