Tag Archives: 424(b)(5) prospectus

MERS RULES IN THE FIRST U.S. CIRCUIT COURT OF APPEALS; SCREWS 2 HOMEOWNERS

(BREAKING NEWS – OP-ED) — The attached cases were argued by the same attorney for the homeowners. Different attorneys for the foreclosure mill, pro-bank law firm of K&L Gates argued for the banks.  This is provided for your educational purposes only and to warn you of the dangers of litigating anywhere within the First U.S. Circuit Court of Appeal’s jurisdiction. My opinions of MERS and what it stands for are my own and do not constitute legal advice.  After all, MERS would like to put a bullet in my head. 

Believe it or not, the U.S. Circuit Courts of Appeal are still in operation despite the corona-crisis.  Last Friday, the appellate panel screwed two homeowners in REMIC foreclosure cases.  Worse yet, one case relied on the outcome of the other case to make the ruling finite. When you have to go into this particular federal appellate court, remember who has set more favorable case law here: Mortgage Electronic Registration Systems, Inc. (“MERS”: now owned by the same bunch that owns the New York Stock Exchange).

Here’s the first case, that the appellate panel used to set the standard for the second case:

Dyer v Wells Fargo Bank NA, 1st App Cir No 15-2421 (Apr 17. 2020)

From the outset of this ruling, it looks as if “Dreamhouse” didn’t do the Plaintiff any favors by including MERS as a nominee within her mortgage.  After all, Dreamhouse appears to have been a corresponding lender who got its money for this loan from an investor pool.

Remember, you’re in the first circuit here.  MERS rules!  MERS gets to do anything it wants.  Assign mortgages.  Publish confirmatory assignments.  I’m so convinced that MERS (through K&L Gates’ attorneys) gets to control the entire narrative in court arguments I could just spit fire.  Even though the mortgage document doesn’t specifically say that MERS can “assign” anything, MERS got out in front of the mortgage foreclosure crisis and pre-established the narrative, so it could come in in subsequent cases and argue that narrative and win every time.

All the same arguments we’ve heard before (specifically in Culhane v Aurora Loan Svcs_021513-1) that MERS can do anything it wants to. However, the narrative is controlled by what MERS can do or not do.  No one is pointing to the actual parties acting in MERS’s name. What this appears to be is just another redux of Culhane.  MERS’s attorneys can argue that MERS is both a nominee (agent) for the Lender and has all of the power of the Lender, especially in THIS Circuit … and get away with it.  This is why I don’t like federal court for litigating foreclosure cases. This is why banks love federal court to argue foreclosure cases … because they win 99.9% of the time!

Old arguments aren’t working anymore.  We need new ammunition, given the fact the second case ruling was predicated on the first one:

Hayden v HSBC Bank USA NA, 1st App Cir N0 16-2274 (Apr 17, 2020)

SAME ‘OL … SAME ‘OL … 

By now, if you’re reading your own MERS-originated mortgages, you can plainly see how you’ve F**KED yourself!  You gave MERS the “official” and “contractual” right to F**K you.  They can foreclose and sell your home.  They can rape your bank account in the name of preset case law they set in their favor.  They can release and cancel anything.  They can do anything your lender does … and can even come into court and act as your lender. Let me put it bluntly here … MERS is a disguise worn by the servicer.  It’s the servicer that’s actually doing the sodomizing here.

In this case, the Haydens filed multiple bankruptcy cases over time, delaying their foreclosure (and screwing up their credit) until 2026.

Again … as you can see on Page 3 of this ruling … MERS can do anything it wants … including telling the First Circuit to “get on its knees and bark like a dog”!  Again … old argument from the banks … borrowers do not have standing to challenge a mortgage assignment based on a PSA violation!  Again … the banks and MERS are controlling the narrative.  Old hat.  Doesn’t work.  Still being plied upon the courts and borrowers are paying for an attorney to argue the same old hat stuff … and losing.  Statute of limitations arguments … still old hat.  Not working anymore.  Hasn’t worked since 2o15 yet is still being argued.  Borrowers are still paying attorneys to argue the same things that don’t work.  The First Circuit isn’t buying any of it. It’s not having much better luck in any of the other circuits that have had the same ‘ol, same ‘ol garbage pleadings tossed at them.

Oh … and the PSA … that’s the banks’ narrative.  My narrative is the entire 424(b)(5) Prospectus.  It’s used as evidence in the C&E to establish fact.  You have to pick your battles carefully.  Each battle costs money.  After this corona-crisis is over … foreclosures will cost money. Money that hasn’t been there because half of the economy was shut down versus going in and letting “herd immunity” prevail.

YOU’RE DAMNED IF YOU DO AND DAMNED IF YOU DON’T! 

President Trump can’t do anything without being criticized for it.  He shuts down the economy and the public for its own protection and everyone on “the other side” bitches because he either didn’t do it soon enough or it wasn’t the right move in the first place.  You can’t win with these people.  We know the virus started in Wuhan, China.  But as soon as the President references it as the Chinese virus … now he’s a racist.  His opponents don’t know when to quit.  Sometimes, keeping your political trap shut can work in your favor.  They’re making a mockery of everything the President does, yet most of them have had several decades of serving in Washington to “get things done”, but we’re no better off with them than without them.  This is politics folks. If you don’t like the way things are, change them.  But remember …

The President is the head of the Executive Branch, the branch that enforces the laws.  The President is tasked with running the country … not the person that makes the laws in the first place!  He’s a CEO, not a politician, which is why his opponents hate him so much. He won’t play in their “sandbox”.  Boo frickety hoo!

Congress makes the laws (in the form of bills).  When Congress introduces a “bill” … that “bill” costs money to make it work. Taxpayer money. Someone has to pay for it and it sure ain’t Congress!  This latest stimulus package again demonstrates how much pork Congress got away with spending … and the economy that has been doing so well (that all these lame-brained politicians are trying to take credit for) is now stagnating.

The Courts decide whether the laws are constitutional, are properly enforced and/or whether Congress overstepped its bounds when it enacted a law.  Today’s courts like to issue very narrow rulings, which is why you have cases like these being decided against homeowners.

This is our system of checks and balances folks.  It’s what the will of the people created. Deal with it!

And what the hell does this have to do with foreclosures?

This is why the Dyer ruling was 12 pages and the Hayden ruling only 5 pages.  Because the Dyer ruling says enough to where it doesn’t have to be repeated ad infinitum, ad nauseam in the Hayden ruling.  It has everything to do with the atrocities that banks are allowed to get away with, using MERS as a disguise for the real truth.

Everything in these two cases affects every ruling that comes out of the U.S. First Circuit Court of Appeals.  Other federal circuits may choose not to rely on these two cases … or Culhane for that matter.  But it clearly shows circuit split when it comes to how the courts treat MERS and what they will let MERS get away with.  If you don’t know what to plead … how can you expect to win your foreclosure case?

THE CANCELLATION & EXPUNGEMENT ACTION (The “C & E”) …

Because we’re seeing results with using the C & E, it goes without saying that I’d talk about it again.  Neither of these two cases discussed anything within the contents of the document that made sense other than the date and time of the event and the claims the assignments made violated the PSA.  That moves the argument into the bank’s narrative.   To argue the bank’s narrative is to liken that strategy with the comment Robert Stack made in the comedy movie Airplane: “That’s just what they’d be expecting us to do!”

The C & E does just the opposite as it moves the narrative in a different direction … one “they won’t be expecting”:

  1. Virtually all 50 states have common law rights to cancel written instruments. That includes bogus assignments!
  2. Virtually all 50 states have penal codes that prohibit the recording of false utterances in the public record!
  3. Virtually all 50 states have a consumer protection act that can be tied to the recording of the false utterance!

The C & E is postured within a declaratory relief action that can be utilized while the banks aren’t foreclosing … hint, hint:

  1. The declaratory relief action is discretionary in federal courts, which is why we like to use it in state courts!
  2. The declaratory relief action can be accompanied by a notice of lis pendens, which can be effective in stopping title closings in foreclosure cases!
  3. The declaratory relief action in many state courts can ask for a ruling on a document to be applied to the entire chain of title as a precursor to filing a quiet title action.

The C & E costs less money to effectuate than most foreclosure defense actions yet still is able to achieve a timed delay:

  1. Investors use C & E’s to buy time.  Time is of the essence no matter what battle you pick. This can buy more time if used correctly in both deed of trust and mortgage states!
  2. We are now seeing that filing corresponding criminal complaints with local law enforcement is “shaking things up” in the civil realm when it comes to litigating false utterances!
  3. Many times, the criminal intent contained within the false utterance can be used to put a court on notice that someone is trying to “protect the sanctity and decorum of the court” by keeping the judge from becoming an accessory to the criminal acts committed by the servicers’ employees, acting in the name of MERS!

You still have time to factor in a positive outcome.  There is still time to get your 2-day training session (with materials) on DVD (8 discs) and train yourself and your attorney to fight the good fight because the foreclosure moratorium is still in play here for most of you. Visit the Clouded Titles website for more information.  Supplies are limited so order yours now!

As a special added bonus … your order includes a 30-minute consultation session with the author! 

 

 

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THE C&E, ASSIGNMENTS … AND YOUR RIGHT TO CHALLENGE THEM (PART 2) …

(OP-ED) — The author of this post challenges you to seriously think about this process, because it is virtually available to everyone in the United States who has ever had their mortgage loan securitized … even if Fannie Mae and Freddie Mac (the “aunt” and “uncle” the U.S. Government doesn’t like to talk about) are involved … 

Scenario … “The Punch Line”

In part 1 of this blog post, we talked about how homeowners were duped by table-funded mortgage brokers and DBA’s (fictitious entities) who claimed they were New York corporations when in fact, they were “storefronts” for the major lenders who made the “storefronts” the actual borrowers in your loan transactions, potentially rehypothecating those loans over and over again using your personal identifying information to sell pieces of your loans into bundles of pools of loans on Wall Street.

Party A runs “the smoke screen”.

Party B fronts the “investor funds” using non-compliant prospectuses that were signed under Sarbanes-Oxley that don’t matter to them anyway.

Party C plays completely outside of the MERS® System and really has nothing to do but sit back and collect residual income being a go-between prior to your loan allegedly going into a REMIC that’s been empty all along.

Party D plays the Trustee for the REMIC … and just sits back and collects his fees from what the servicer gets and turns a blind eye to your loan default.

Party E (empty promises) is the servicer who is robbing Peter to pay Paul’s debts and this is why entities like Ocwen have to go out and securitize $600-million in new paper just to fund Advances to keep paying the certificate holders of these REMICs so we don’t have another crash (like 2008).

Party F (meaning the ones who actually get f**ked) are the investors that actually bought into this crap.  They have so much money they don’t know what to do with it.  I sometimes don’t feel bad about them getting raped.  They deserve it.

So why is it that when we’re in court the judge ignores your comeback when you attack an assignment of mortgage or deed of trust for containing false and misrepresentative information?   The judge is waiting for the bank’s attorney to allege that you’re not a third-party beneficiary and that you can’t attack the assignment.  Aaahhhh …. but that’s the bigger lie!

You see … the title documents in the land records represent your chain of title.  If your chain of title is jacked up, you couldn’t sell your property if you wanted to in order to mitigate the lender’s losses, even if the lender could prove they’re entitled to the proceeds of the sale of your home.  This has been the bigger problem with challenging foreclosures, because the banks (via a vis their servicers) use the chain of title (through the MERS® System) to lie their way through the courts and the judges play along with it because … well … “we can’t hurt the banks”.

If a chain of title is unmarketable, what reasonable buyer would want to purchase it?

If a chain of title is unmarketable, it violates every state’s law that guarantees marketability of title!

If a chain of title is unmarketable, it’s because it’s vendibility is impaired (you can’t sell it).  No one wants to buy someone else’s problems … especially if the title is slandered (Hello?  …  Can you say “damages’?)

If the chain of title is unmarketable because it’s title is screwed up … title companies won’t insure it.

If it’s uninsurable, no one is going to sell it.  How could they?   If title companies do insure these properties, they’ll exclude coverage for the applicable errors!  You won’t get a dime on a title claim, while the title companies make off with your premium payment at closing!

If you’re in states where only the lien interest is sold (like in California), the banks get to kick the can down the road, and investors are stuck with nothing but screwed-up chains of title and they can’t do anything but rent the properties out because there’s no way to quiet the title without exposing the truth … and no one can afford to expose the truth because American Jurisprudence is tainted.

The reason I bring it up?

The Assignment has your name and your property’s references within it. 

Every state has a set of statutes that allow consumers to challenge the assignments, releases, and any other document in their chain of title that is “suspect” for false and misrepresentative information.   If you let the bank’s attorney get away with stating that you’re not a third-party beneficiary, then you have to ask yourself …

WHAT THE HELL DOES THAT HAVE TO DO WITH THE BOGUS INFORMATION IN THE LAND RECORDS?

This is why statutes were formulated to combat erroneous (many times deliberate) behavior in the creation of these phony assignments and releases.  The problem is … 99% of the attorneys don’t like doing declaratory judgment actions … half the time because they don’t know how!   This is why Al West and I did a deep dive into the assignments and Al West came up with the notion that cancelling and expunging the phony document would force the court to have to quiet the title. If you’re attacking the property’s title because it violates statute, how then could the lender foreclose?

You can’t break one law to enforce another law! 

This is why Appendix 11 of The C&E on Steroids! has all of those statutes in it!  If the document affects your chain of title, you have an “in” to attack it through declaratory relief.  All American homeowners are entitled to have a property that has marketable title and this is why these remedies were created.  American property owners need to wake up and realize what they’re up against here, because it’s not really that expensive a proposition to attack these assignments.  There’s always quiet title too … which is why we included that in the latest book, which includes an 8-DVD training video kit!

You want your attorney to know the truth?  Share this information with him (or her).  If attorneys knew the simplicity of doing a declaratory relief action, they’d have a whole new way to make a living without stressing themselves out over it. Did you hear that lawyers?   That’s why Al West (who is an attorney that uses the C&E  a lot in his practice) has graciously supplied a ton of exhibits for you to look at and glean from … it’s the best educational tool of the decade.

If there are over 500-million phony assignments and other bogus documents in the land records, why aren’t we doing something about it?

Frankly, if you can understand that when the crash hit and everyone found themselves upside down in their mortgage loans, 95% of them cut and ran … that’s why.  Someone has to carry the ball and pay it forward.  This may be your calling.

I assisted a Florida attorney in doing a C&E in a Release of Mortgage, which convoluted the title even further, designed to create a statutory violation while challenging the lender (3 cans down the road) to prove how the first lender paid off the original loan with refi money.  That too is in the book (pleadings and all)!

 

The training kit is here in limited supply.  I have 33 kits left in stock.  I do not know when we’ll reorder.  If you want to fight the good fight, then force the courts to make your property marketable again.  Until the courts deal with these title issues, you the homeowner are just helping the banks “kick the can down the road” … soon, we’ll end up as a nation of renters for sure, because only investors will own all the homes (at least that’s what they think).  They get stuck with the crappy titles and you get stuck being a renter!

Is that really what you want?

… AND HERE’S AN ADDED BONUS!

The folks who order this DVD training kit will get the new Robert Janes compilation of SHELLGAME MERS, the 2009 RULES and his latest white paper on defeating California foreclosures!  Included absolutely FREE!   

PLUS … I’ll throw in a copy of THE FDCPA, DEBT COLLECTION AND FORECLOSURES work as well … for use in fighting unscrupulous debt collectors.

That’s an extra $80 worth of useful tools to add to your arsenal

This offer will expire June 30, 2019 … so get your C&E training kit NOW!  

CLICK HERE TO ORDER!

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THE C&E, ASSIGNMENTS … AND YOUR RIGHT TO CHALLENGE THEM (PART 1) …

(OP-ED) — The author of this post is a consultant to attorneys on quiet title and cancellation and expungement actions and thus, not an attorney who can give legal advice.  This overview, with its suggestive commentary, is for your educational entertainment only. 

Scenario … “The Set-Up”

You want to buy a home.  You don’t have much money, but credit is plentiful, as long as you can “fog up a mirror”.  You’re the “party of the first part” because you’re willing to take a gamble that if you can get a loan, you’ll be able to pay it back, with interest.

However, you’re not “Party A” (the party of the second part).  Party A” is a corresponding lender. That means it’s highly likely your loan is going to be securitized, which means it’s going to be put into the MERS® System, which is now owned by the same company that owns the New York Stock Exchange.

But of course, you’re ignorant of all of the shenanigans going on behind the scenes because you just want the keys to the house.

Meet “Party B” … not Cardi B; Cardi B has lots of money and she can probably pay cash for a house).

Party B is more than likely the sponsor-seller (the interim funding lender in the deal).  Party B figured out how to make a puttload of money doing securitization, so Party B hooked up with some attorneys who all engaged in “pure intellectual masturbation” together to create a “sales pitch”, known to investors as a 424(b)(5) Prospectus.  This document was drafted and signed under penalty of perjury under the Sarbanes-Oxley Act.  But that wouldn’t really matter to you, because you just wanted the keys to the house, right?

Meet “Party C” … the Depositor.  This entity is never a “member”, “user” or “subscriber” of the MERS® System; however, the Depositor plays an important role in securitization because it has to accumulate all of the documents (mortgages and notes funded by the REMIC) together by the specified “Cut-Off Date”, which is shown in the Prospectus (the sales pitch), which has to be done by a date certain (not 5 or 7 years down the road) or else the transfer of the loan into the REMIC would be void.  Party C is one of those parties that is a necessary party to securitization, so without it being named in the chain of transfers from Party A to Party B to Party C to “Party D” (the Trustee for the REMIC trust), as specified in the Prospectus, by the specified date, then it creates all sorts of legal challenges down the road, for both borrowers and investors alike.

To make even more money on the deal, Party B goes out and makes applications all over town for default insurance, while placing side bets (credit default swaps) on the performance of the certificates issued to the investors who have no idea what’s coming.

Now that all the side bets are in place and the loans have all been funded, the loan you got through Party A (the corresponding lender who only put up 5% of the deal) just closed and Party A got reimbursed by Party B, who actually funded the loan!

Later you find out the truth … but wait … if Party B was actually footing the bill with investor money it got through securitization, shouldn’t Party B be named the lender on the mortgage or deed of trust?  You’d think so.  But nope!  That puts Party B too close to the action on the assignment that’s supposed to be recorded in the land records where your house is … but somehow … Party B and its corresponding lenders are having too much fun giving loans to people they knew couldn’t repay them … so they forget about recording the required assignments altogether.

Ha! Ha! Ha!  Not!

The sponsor-seller knows what’s coming, because it’s holding all the Aces and it knows that over time … the house of cards will fall because all the loans in the pool are set to “reset” themselves within a certain period of time, causing the entire REMICs value to collapse.  I call it “Day 91”.  That’s the day the sponsor-seller gets to cash in on all of the insurance policies and credit default swaps.  The sponsor-seller can take a $500,000 loan and make $7.5-million off of the deal!

And here you are, swimming in debt, trying to figure out how to pay that mortgage that just reset itself through that adjustable rate BS you obligated yourself for.  But there’s more month at the end of the money.  You stop paying.  Party B is counting on it!  Party B set the whole thing up (using the MERS® System) to obfuscate the chain of title so it can create assignments of mortgage and deeds of trust to record in the land records vis a vis the mortgage loan servicer, who is tasked with taking your payment every month.

At least that’s what the mortgage loan servicer wants you to think when it sends you the default notice!  But alas … another lie.

The mortgage loan servicer is required to pay your principal and interest payments on your mortgage loan to the investors whether you pay them or not!   It’s called an “Advance”.  That too, is in the Prospectus … (not in the PSA)!   Simply put … are you really in default when the alleged REMIC moves to foreclose on you?   If someone is paying the investors every month, then how can they claim you’re in default.  Because they have a contract with you?   The originating lender (Party A) was paid off at closing by Party B (who used investor money to fund the loan) … this is what we call “table-funded lending”.

I’m trying to tell a story here, because this is the part where the rubber meets the road! 

Until you default (when the servicer declares you aren’t making your payments anymore) … you’ll never see an assignment recorded in the land records (99% of the time).  You have no contract with the servicer (Party E, for Empty Pockets).  Servicers have been known to “rob Peter’s account to pay Paul’s account” all the time, like Ocwen, which is why servicers are sloppy with handling money and shitty record-keeping.  But the servicer has another angle … it uses its employees to create assignments of mortgage and deeds of trust using MERS to cover up the missing links in the chain of title and conveys the title from Party A to Party D, without any recollection or mention of Parties B or C!   So who is it really coming into court to foreclose?

If you said Party E, you’re right!   These days, servicers are being even more brash, claiming they have a power of attorney from Party D (the Trustee for the REMIC) to foreclose on behalf of Certificateholders of some REMIC “series number”, claiming the certificate holders have been “harmed”, when in fact, the servicer is just trying to reimburse itself for all the defaulted payments it kept making on your behalf.   Now it’s using phony documentation to claim the note and mortgage were transferred to Party D, many years later.  The REMICs only stay open a year, so none of that makes any sense.  So the mortgage loan servicer retains the law firm to foreclose on your house … let the lying, cheating and stealing begin!   All on behalf of Party F (the investors).  I use Party “F” because in this scenario, the investors get “F**ked” in the end because the money made by stealing your house using phony assignments created by the mortgage loan servicer and its employees goes into their pockets and not those of the investors.

The attorneys continue the lie by claiming you’re not a third-party beneficiary to the assignment!   

And the judges buy into that crap hook, line and sinker!  It shows their ignorance! 

There are a lot of problems with these foreclosure mill lawyers using that falsehood.  In fact, the very pleadings or responses they file in lawsuits brought by the homeowner in deed of trust states to stop the foreclosure, or in the pleadings they put into the court record in mortgage states, contain misstatements in of themselves … and even more so when they have to rely on the recorded documents that the mortgage loan servicers put into the land records, in violation of statutes and penal codes, that contain false and misrepresentative information.

And the borrower and the attorney for the borrower run into court and wave the assignment around, telling the judge it’s a fraudulent document.  The judge of course (after hearing the attorney say you can’t challenge the assignment because you’re not a third-party beneficiary to the assignment) goes along with the bank’s argument … just because it seems to make sense.  However, there is a problem with that scenario.

Check back for PART 2 … where we discuss the bank’s flawed argument … and what homeowners are countering that flawed argument with!

HINT: Are the investors really third-party beneficiaries?  (think about it seriously, really).

Why should that affect you?

Look at your assignment!

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INVESTOR ALERT: ACQUIRING MORTGAGED PROPERTIES CAN RACK UP UNNECESSARY LEGAL BILLS

(OP-ED) — The following is an opinion of the author only and the content offered herein is for your educational benefit.  Enjoy! 

One of the avenues investors like to travel upon is that of acquiring homeowners association liens.  Such was the case in Texas with Kingman Holdings LLC.  You can read the case here:

wells fargo bank na v kingman holdings llc, tex app (5th) cir no 05-17-01240-cv (jan 17, 2019)

The one thing I didn’t notice is all of the “assignments” that were talked about in the suit.  None of them were ever challenged.  And this is a MERS-originated Deed of Trust, so you know it was securitized.   As the case states, Lehman’s Asset Backed Securities Mortgage Loan Trust 2007-1 was involved and it is highly likely that there are multiple issues regarding the actual negotiation of the note and related paperwork to the custodian of the trust at the proper time stipulated by the 424(b)(5) Prospectus for that REMIC trust.  What this case argued was lien superiority and Wells Fargo won, despite the lack of challenge to the assignments.  I wonder what the outcome would be if the false and misrepresentative statements contained in the pleadings in the lawsuit, which ties the false statements made in the pleadings to the documents in the land records, thus opening the door to further scrutiny (albeit the other side might scream that we’re reaching; parol evidence).

No pain … no gain.  But investors have to be careful when it comes to buying HOA-related properties.  This is why I like tax deeds.  The county in fact DOES have first lien priority, whereas HOA’s do not.  In fact, reading into this case, nothing in the HOA paperwork showed its lien was superior, but money was spent litigating the case anyway.  Learn from other’s futile mistakes.

You can look at this case and say, “The banks always win!”  however, understand who the appellant is here … the bank.  It got ruled against in the lower court!

Sadly, I’ve come to understand that most HOAs only notify the actual owner of the property and NOT the lenders that might have a mortgage on that property.  This puts investors in a vary “gray area” when it comes to acquiring property that has an existing mortgage, thinking that nothing will come of it.  So … caveat emptor, especially if you’re investor who didn’t plan on spending extra cash in litigation.

NEW REVISED COTA CHECKLIST

AS AN ADDED BENEFIT to this story … please download the PDF of our new COTA Checklist for 2019 here:

2019 cota checklist

Having tools at the ready when you’re doing property searches isn’t a bad thing, especially when your own property might be in jeopardy.

GOVERNMENT SHUTDOWN UPDATE:

On another note … while not related to chain of title issues … the Air Traffic Controllers Union and a host of its membership have filed suit against the government, citing air security risk due to the government shutdown … read the lawsuit here:

patca et al v us, us d.c. no 1-19-cv-00062 (jan 11, 2019)

This lawsuit may not move too fast given what we reported on this blog yesterday about the courts’ running out of funds tomorrow.   If air traffic controllers have to suffer, what do you think airline passengers might face in the near future?   Don’t you think shit rolls downhill?   Make your travel plans accordingly as flying might not be the best option right now.

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CFPB UPDATE ON OCWEN LOAN SERVICING LLC …

BREAKING NEWS —

For those of you who need clarification on Ocwen Loan Servicing’s “financial position” and “mortgage servicing rights”, please pay close attention to WHAT Ocwen acquired from ResCap and why ResCap had to file Chapter 11.  Here’s the 11-page update:

Update on The CFPBs Enforcement Case against Ocwen Financial Corporation

You can also read (in the last paragraph of the Report) what the status is on the lawsuit filed by the CFPB.

For those of you that have been following my blog posts, also understand that ALL SERVICERS have to comply with REMIC rules if a REMIC is involved in your mortgage loan … that includes ADVANCES!  Please refer to my other article on Ocwen in The Pooling & Servicing Agreement: Why Just Eat Half The Enchilada? 

For those of you that need “clarification” on the duties of the Servicer, please pay close attention to the attachments in the referenced article … especially under the area of ADVANCES.  This might explain more of servicer fraud, as the servicer, by omission, commits fraud on the court by NOT admitting that it has to make your mortgage payments if you fail to do so, under the 424(b)(5) Prospectus regulations (shown in the article, by Ocwen’s own admission), coming into court in a foreclosure proceeding claiming that the investors it represents (the REMIC’s certificate holders) suffered harm, when in fact (PLEASE PAY ATTENTION TO THE DISTRIBUTION DATES IN THE REMIC’S REGULATIONS), the investors have been getting paid all along, as long as the servicer is able to make the payments.  This is even more evident when you read the sentence in the Report issued by the CFPB (attached) which explains WHY ResCap filed bankruptcy!  Sorry, you actually should read the Report! 

You can learn to fight Servicer Fraud at our upcoming Foreclosure Defense Workshop … this weekend in Orlando, Florida!  Servicer Fraud is NOT just Ocwen … it’s all of them! 

FDW ORLANDO REGISTRATION FORM

There are still a few seats left!

We will be sharing information about the differences in “buying time” versus “full resolution” in your foreclosure case!

Learn to attack Assignments of Mortgage and Deeds of Trust the right way!

Learn to attack the other’s side’s Limited Power of Attorney!  … and so much more!

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