UPDATE FROM MIAMI —
Miami-Dade Judge Bronwyn Miller has rejected attorney Bruce Jacobs’ demands that Bank of America be sanctioned for withholding and destroying records … 1.8-billion of them! There was no specific reason given for the Judge’s decision. Bank of America (of course) argues that Jacobs’ claims were baseless.
Jacobs had accused the bank of purging the records while under a court-ordered subpoena (in another foreclosure case) to hide evidence of alleged fraud because the original records may have been altered. Bank of America responded by stating that the records were copied by an outside firm and returned to the bank and that it was the “outside firm’s copies that were purged”. Bank of America’s attorney stated that Jacobs’ claims were not relevant to this matter because they were based on claims from another case raised in bankruptcy court. (See the article below for clarification!)
See the following link:
NOTE: Bruce has asked me to repost this!
OP-ED — It is not surprising that the individual documents involved in the particular case are not a part of the scrutiny involved here. Anyone reading any “manufactured” Bank of America document could understand that in (for a time) in Simi Valley, California, tens of thousands of so-called fraudulent assignments of both mortgages and deeds of trust were created under the direction of Bank of America in order to create standing so it could foreclose on affected homeowners. Many of these documents contained “CoreLogic” on them. We know from a certain interview with a former contract worker at Simi Valley (in the document manufacturing plant there) that he was signing documents as a Vice President of Mortgage Electronic Registration Systems, Inc. and he didn’t even know who MERS was. Documents were always referenced back to CoreLogic in Chapin, South Carolina. Remember the LPS debacle?
Title companies and document processing plants that go out of their way to create documents (or be involved in the creation of them) are NOT your friend!
Many of these documents claim that Bank of America, NA ended up with (as an assignee, or transferred to another party as an assignor) an assignment of mortgage or deed of trust as the result of a merger involving “BAC Home Loans Servicing LP fka Countrywide Home Loans Servicing LP”, which we have researched thoroughly and found to be false, as Countrywide Home Loans, Inc. was not directly subsumed into Bank of America, N.A. Oops! We forgot Red Oak Capital and another merger entity. The point being … if the other side is going to claim that it acquired something by merger … don’t you think it’s necessary to make them prove it? We take too much of this for granted and don’t recognize when something is that obvious that we “forget” to challenge it. Every state in the U.S. has a civil component for attacking fraudulent documents. Why is no one using them to their fullest extent?
Of the documents we now find worthy of discovery: (a.) all assignments in the chain of title; (b.) limited powers of attorney recorded for the benefit of the assignee (Grantee); and (c.) agency and/or merger agreements. The Grantee (or Assignee) of an agency relationship cannot prove that relationship. It must be legally proven by the Grantor (or Assignor) of the relationship! For example … how can a Borrower “agree” that an agency relationship between Mortgage Electronic Registration Systems, Inc. exists on a mortgage or deed of trust when the Borrower has no proof or personal knowledge of such?
This is why homeowners should regard anything involving “MERS” as suspect and (as we suggest) … walk away from the closing table! It’s bad enough that over 80-million homes have issues involving their chains of title because of MERS and yet people keep going to the closing table and signing these documents without reading them because they just want the damned keys to the house, whether it financially and psychologically affects them in the future!
This is why we see increased bankruptcy filings, suicides and murder-suicides related to foreclosure cases all over America! There are portfolio lenders (like fsnb.com) out there … why aren’t we using them instead? And now another round of subprime mortgages has hit the national marketplace and people who got into trouble in Round One are the first ones standing in line for Round Two. When will we learn that those who are ignorant of history are condemned to repeat it?
In my next post, I’m going to present a 5th U.S. Circuit case where a REMIC won because of a homeowner’s failure to properly attack his case! This case involves not one but TWO Assignments of Deed of Trust that were not only servicer “manufactured” but recorded in “reverse”, which would appear to have negated the effectiveness of BOTH of them! You be the judge!