points-and-authorities-demurrer

Posted on November 23, 2008 by Neil Garfield

points-and-authorities-demurrer

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3 Responses

  1. Sui Juris 249, on January 10, 2011 at 2:24 pm said:

    under FAS 140, the original lender sold it to the REMIC
    and forever lost their rights to enforce the note.

    the REMIC holds all the loans together into a pooling and servicing
    agreement. However, because they chose to avoid the IRS tax rules for double
    taxing, they pass on the real party of interest/ownership of the asset to the
    individual shareholders. So neither the REMIC nor the Trustee may foreclose.

    The Servicer is Not a Real Party of Interest
    The Servicer can only collect the money and pass it to the REMIC. That’s the
    extent of their job.

    Once a loan has been written off, it is discharge. Once a loan has been
    securitized, reattachment is impossible.

    Reattachment is impossible for the following reasons:

    1) Permanent Conversion
    The promissory note had been converted into a stock as a permanent fixture.
    Its nature is forever changed. It is now and forever a stock. It is treated as a
    stock and governed as a stock under the SEC.
    Since the Deed of Trust secures the promissory note, once the promissory
    note is destroyed, the Deed of Trust secures nothing. Therefore, the Trust is
    invalid.

    2) Asset has been written off
    Once an asset is written off, the debt is discharged since the owner of the
    asset has received compensation for the discharge in the form of tax credits
    from the IRS. The debt has been settled.

    The servicer acts as a debt collector of an unsecured note. The servicer is
    deceiving the court, the county, and the borrower when it tries to re-attach the
    note to the Deed of Trust as if nothing has happened. It’s called adhesion.

    3) Broken Chain of Assignment
    Under Uniform Commercial Code (UCC), the promissory note is a one of a
    kind instrument. All assignments (much like endorsements on the back of a
    check) have to be done as a permanent fixture onto the original promissory
    note. The original promissory note has the only legally binding chain of title.
    Without a proper chain of title, the instrument is faulty.

    Rarely can a lender “produce the note” because by law, the original note has
    to be destroyed. Remember? The note and the stock cannot exist at the
    same time. Often times, the lender would come into court with a photocopy of
    the original note made years ago.

    Another popular method of deceit “lenders” would perform is to use State Civil
    Code in non-judicial states to state that “there is no law requiring a lender to
    produce the note or any other proof of claim.” THEY DON’T HAVE IT and
    CANNOT PRODUCE IT.

    Oftentimes, the pretender lender would do blank assignments of the original
    promissory note into the REMIC. Then, when they need the note to perform
    the foreclosure, they will magically produce a blank assignment. Again, this is
    not legal and is bringing fraudulent documents before the courts and at the
    county records.

    *****Let’s be very clear here. Once a loan has been securitized, the note is no
    more. Anything the lender brings to court as evidence is prima facia evidence
    of fraud. The attorney for the lender is either an accessory to the fraud
    through ignorance or willful intent. Either way, as an informed borrower, it is
    your job to bring this deception to light so these lawyers can be sanctioned****

    From: The Forelosure Defense Handbook google it to get the pdf.

  2. Sui Juris 249, on January 10, 2011 at 2:24 pm said:

    under FAS 140, the original lender sold it to the REMIC
    and forever lost their rights to enforce the note.

    the REMIC holds all the loans together into a pooling and servicing
    agreement. However, because they chose to avoid the IRS tax rules for double
    taxing, they pass on the real party of interest/ownership of the asset to the
    individual shareholders. So neither the REMIC nor the Trustee may foreclose.

    The Servicer is Not a Real Party of Interest
    The Servicer can only collect the money and pass it to the REMIC. That’s the
    extent of their job.

    Once a loan has been written off, it is discharge. Once a loan has been
    securitized, reattachment is impossible.

    Reattachment is impossible for the following reasons:

    1) Permanent Conversion
    The promissory note had been converted into a stock as a permanent fixture.
    Its nature is forever changed. It is now and forever a stock. It is treated as a
    stock and governed as a stock under the SEC.
    Since the Deed of Trust secures the promissory note, once the promissory
    note is destroyed, the Deed of Trust secures nothing. Therefore, the Trust is
    invalid.

    2) Asset has been written off
    Once an asset is written off, the debt is discharged since the owner of the
    asset has received compensation for the discharge in the form of tax credits
    from the IRS. The debt has been settled.

    The servicer acts as a debt collector of an unsecured note. The servicer is
    deceiving the court, the county, and the borrower when it tries to re-attach the
    note to the Deed of Trust as if nothing has happened. It’s called adhesion.

    3) Broken Chain of Assignment
    Under Uniform Commercial Code (UCC), the promissory note is a one of a
    kind instrument. All assignments (much like endorsements on the back of a
    check) have to be done as a permanent fixture onto the original promissory
    note. The original promissory note has the only legally binding chain of title.
    Without a proper chain of title, the instrument is faulty.

    Rarely can a lender “produce the note” because by law, the original note has
    to be destroyed. Remember? The note and the stock cannot exist at the
    same time. Often times, the lender would come into court with a photocopy of
    the original note made years ago.

    Another popular method of deceit “lenders” would perform is to use State Civil
    Code in non-judicial states to state that “there is no law requiring a lender to
    produce the note or any other proof of claim.” THEY DON’T HAVE IT and
    CANNOT PRODUCE IT.

    Oftentimes, the pretender lender would do blank assignments of the original
    promissory note into the REMIC. Then, when they need the note to perform
    the foreclosure, they will magically produce a blank assignment. Again, this is
    not legal and is bringing fraudulent documents before the courts and at the
    county records.

    *****Let’s be very clear here. Once a loan has been securitized, the note is no
    more. Anything the lender brings to court as evidence is prima facia evidence
    of fraud. The attorney for the lender is either an accessory to the fraud
    through ignorance or willful intent. Either way, as an informed borrower, it is
    your job to bring this deception to light so these lawyers can be sanctioned****

    From: The Florclosure Defense Handbook google it to get the pdf.

  3. Jose, on November 25, 2008 at 4:28 am said:

    Dear Mr. Garfield

    I read these responses but they are not to clear, Can you foreclose on someone without a note, if that is the case why the hell do we sign one at the table.

    These lender lawyers are real vipers and vampires.

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