Forensic analysis, DISCOVERY: BofA Hides Behind Reconstrust Subsidiary

Editor’s Notes: Bank of America is smarter than most. It has created a web of companies whose function is to perform activities that hide the fact that it is Bank of America, and there are other pretender lenders who hide behind this entity who suddenly appears as “trustee” or some other entity claiming the right to enforce the note, foreclose the mortgage, lift the stay or whatever. Recontrust is one of them, and it agrees with its “customers” that it will never make a REAL claim to the obligation, note or mortgage. But it also agrees to make claims and pursue foreclosures as though they were the creditor, reporting back later on what happened.

RECONTRUST APPARENTLY HAS 12 EMPLOYEES. Yet it handles virtually the whole country for Countrywide Loans, BofA and others. From what I can see it is a sham corporation with sham functions much the same as MERS and other players invented to make this process more complicated. Taking the cue from one of our readers, I did some additional research and found no less than four addresses in four states for this company, obviously designed to give you the run-around. So if you contact one office you are told to contact another. And if you contest their right to issue a notice of default, notice of sale or file a foreclosure lawsuit or defend your own lawsuit to stop them they have plenty of newly fabricated paperwork to justify their position, because that is apparently all they do.

If you want to test this, just call them and ask about a property that is not in foreclosure. They have nothing. So the only reason we see them is to provide cover for the pretender lenders and give them plausible deniability if they come up against a judge or has their number and now wants to award damages, attorney fees, or fines.

Lien Release Services: Consistent. Accurate. Timely.

Lien Release Services

Phone:1-866-207-0573

Address:

1330 West Southern Avenue
Tempe, AZ 85282-4545
Mail Stop: TPSA-88

Default and Special Release Services

Phone:1-800-281-8219

Address:

2380 Performance Drive,
Richardson, TX 75082
Mail Stop: RGV-C4-450

Real Estate Owned (REO)
If you have questions or inquiries regarding REO purchases, unlisted purchases, investor-owned information, city violations, REO broker applications, REO vendor management, or broker complaints please call the REO Customer Escalation Team at: (866) 781-0029.

The following states have sold properties.
Click on the state to view information.

State Number of Properties
Alaska 18
Arizona 1783
Arkansas 66
California 4430
Idaho 214
Mississippi 50
Montana 47
Nebraska 26
Nevada 586
Oregon 114
Tennessee 107
Texas 99
Utah 185
Virginia 156
Washington 135
The following states have properties
listed for Trustee Sale.
State Number of Properties
Alaska 200
Arizona 18956
Arkansas 697
California 29862
Idaho 1528
Mississippi 190
Montana 493
Nebraska 129
Nevada 1560
Oregon 4584
Tennessee 480
Texas 1158
Utah 983
Virginia 515
Washington 1245

Our lien release departments, located in Simi Valley, CA, and Tempe, AZ, record documents in more than 3,600 jurisdictions.

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Let our experienced staff handle your lien release from start to finish. We’ll help you achieve timely releases and reinstatements and improve productivity and efficiency while reducing expenses and boosting your bottom line. We have the capabilities and experience to process reconveyances and lien releases nationwide, regardless of location or volume.

Timely, accurate results.

Lien releases must be filed and recorded within a very short time following the satisfaction of a lien. We don’t just promise timely turnarounds—we deliver on that promise. When you outsource your lien release program to ReconTrust, you get a partner that’s committed to reducing your liability and administrative costs while providing accurate, compliant results.
We control financial risk by adhering to strict compliance standards at state and local levels. That means your files are processed on time within compliance statutes in all jurisdictions. Using state-of-the-art technology, we also provide accurate, efficient document preparation and management to help you meet required deadlines.

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Our team of experts handles releases nationwide, resolves exception files and clears backlogs. We offer an array of customized solutions to resolve your lien release concerns.
We also handle partial release requests. We review, analyze and process each request based on your lender guidelines, and ensure that the outcome will have a positive impact on your business.
The benefits of lien release outsourcing are many. You save time and money, because we help mitigate rising staffing costs and fluctuating workloads. When you need a partner in lien release services, turn to ReconTrust.

Looking for a JOB?:

Job Description:

Review and audit Trustee’s Sale Guarantees (TSG’s) for accuracy; correct deficiencies; input data from the TSG into ReconTrust operating system (FPS); Trustee’s Sale Processors may assist Trustee’s Sale Officers with file audits;This position requires fairly continuous data entry for several hours each day. MUST HAVE Mortgage &/or Title Experience – NO EXCEPTIONS Keywords: Company Confidential, Dallas, Data Entry – MUST HAVE TITLE EXPERIENCE, Sales / Marketing / Pr, Dallas, Texas

ReconTrust’s Employees

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Jim Taylor

President

Sam Shmikler

VP, Risk Management

Kailash Bhuckory

Sr. Bus. Analyst,…

Lorena Castillo-Ruiz

Avp

Denise Sletten

Assistant Team Le…

Eva Tapia

Jeffrey Aiken

Rebecca Baney

Automatic review of recontrust.com
recontrust.com has been automatically reviewed at 2010-03-29 by robtex

Check Result
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Listed in DMOZ NO
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Good WOT rating YES

Total score 30/50 normalized to 3/5 stars
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SEO Analysis

Organic keywords

Keyword Position
recontrust 14
recon trust 14
custody documents 19

Organic competitors

Domain Common Keywords
recontrustco.com 6
bankofamericastore.com 2

Rising foreclosure activities can be a distraction for any servicer. If you’re not positive your business is prepared to handle the rising numbers, let’s talk. ReconTrust’s default management services could take the weight off your operations, so you can focus on your core business.
We provide foreclosure services in 16 states.

If you are having difficulty making your mortgage payments, there may be options available to help you avoid foreclosure. Please click the link below for more information.

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ReconTrust Company, N.A. is a wholly-owned subsidiary of Bank of America, N.A.
Bank of America, N.A. Member FDIC. Equal Housing Lenders  Some products may not be available in all states.

© 2010 Bank of America Corporation. All rights reserved.

Unaffiliated companies or web sites may report on ReconTrust’s business activities. However, for the most reliable and current information regarding ReconTrust’s business, please contact us directly at (800) 281-8219 or by mail at 1800 Tapo Canyon Road, Simi Valley, CA 93063.

Home > Contact Us
Corporate Headquarters:
Default and Special Release Services

Phone:1-800-281-8219
Address:
2380 Performance Drive,
Richardson, TX 75082
Mail Stop: RGV-C4-450

Real Estate Owned (REO)
If you have questions or inquiries regarding REO purchases, unlisted purchases, investor-owned information, city violations, REO broker applications, REO vendor management, or broker complaints please call the REO Customer Escalation Team at: (866) 781-0029.

Headquartered in Thousand Oaks, CA, ReconTrust is a member of the Bank of America family of companies. That means when you turn to ReconTrust, you leverage the resources, technology, scale, and strength of one of the largest financial services companies in the world.
We understand the needs of the mortgage industry, and we are committed to delivering top-flight results. What is more, we share our parent company’s dedication to quality and continuous improvement. To that end, we are committed to offering our clients the highest levels of service, responsiveness, and accuracy.
Our goal is to boost your bottom line by reducing costs, increasing the efficiency of your business and improving the effectiveness of your mortgage operations. In short, we make your best execution happen.
ReconTrust is the name you can trust, and a partner you can rely on. Call us today to find out how to put our expertise to work for you.

14 Responses

  1. do you have the most current list of employees for Recon trust?

  2. Walter,

    One more thing…..GS stands for Goldman Sachs…..the ‘R’ is the risk rating of the security!

    Gary

  3. Walter, please allow me to help clear up a ton of confusion with these securitized loans using your words below…..

    “walter pineda, on May 14, 2010 at 1:04 pm Said:

    I filed a complaint with OCC who mailed questioner to BAC. BAC anwered I was not interested in staying in my home nor requested a workout or loan mod. I’m sending the the OCC all my correspondence between BAC and myself. Bac also stated BNY is the owner of the note and the INVESTOR! I calledf the note BNY and was informed they are the trustee and BAC is the servicer owner of my note! I reserched edgar for infor on gsr mort. loan trust 2003-9, no information at all. GSR 2004,2007 etc all are registered. You may recall that BAC sold my note to grs mort. loan trust 2003-9 in feb. 2010, and that I believe they had previously sold it in 2003, however it seems BAC have covered their tracks very well and may get over on the OCC. Any comments will help. Thanks”

    “BNY is the owner of the note and the INVESTOR”

    a. This is the “shell game” that’s going on today between the banks and consumers. To be the owner of the Note, it is held in Trust as with a Trustee.

    b. BNY is acting as a Trustee for a large PSA pool of corporations such as tobacco, food, cosmetic, retirement pensions companies etc. that INVESTED a lot of money in a PSA TRUST held by BNY, who further took that INVESTED MONEY and turned it into derivative trading on wall street using the bond trading market.

    c. BNY cannot be the Note holder, they are acting only as a Trustee to a PSA on behalf of hundreds of corporation foreign and domestic bought into this scheme.

    d. BNY cannot be a Trustee and Beneficiary to INVESTORS in the same sentence!

    “I called BNY and was informed they are the trustee and BAC is the servicer owner of the note!”

    a. Are you beginning to see the “run-around” here. BNY is correct in saying they are the Trustee, but they DIDN”T tell you to what they are TRUSTEE of….. which is a PSA POOL of “outside corporations and Investors”.

    b. BOA / BAC is a servicer only according to the PSA agreements they bought into and need to abide by according to SEC filings and “rules”

    There is a very INCORRECT position that consumers are buying into with conversations with their “servicing” entity. The servicer has no dog in the fight…..they even state in their recorded message that they are “BILL COLLECTORS”!

    Walter, ask BNY in writing via QWR or any other manner you find best, to send you PROOF that they hold your Note. One other thing, look very close into the “chain of custody” regarding transfer of your Note from one party to another.

    Gary

  4. I filed a complaint with OCC who mailed questioner to BAC. BAC anwered I was not interested in staying in my home nor requested a workout or loan mod. I’m sending the the OCC all my correspondence between BAC and myself. Bac also stated BNY is the owner of the note and the INVESTOR! I called BNY and was informed they are the trustee and BAC is the servicer owner of the note! I reserched edgar for infor on gsr mort. loan trust 2003-9, no information at all. GSR 2004,2007 etc all are registered. You may recall that BAC sold my note to grs mort. loan trust 2003-9 in feb. 2010, and that I believe they had previously sold it in 2003, however it seems BAC have covered their tracks very well and may get over on the OCC. Any comments will help. Thanks

  5. hi this reconstruct company send me aletter for me to signed a deed in lieu of foreclosure i am 69 and they said that they are willing to pay 2/0/oof the principal for my relocation 5 days after i send them the notorized paper work i f there are no repairs to be done .frankly i do not trust them i dot what the scheme are i have no money for an attorney ilive in this home for 25yrsi have the paper that say they do not have the originalnote and also the paper that they send to the enviromental agencies saying i did not leave there when i call the agency to tell them it was alie they told me i wasnt suppose to get that paper in the package that they deliverfor forclosureor the one they admit to the courtthat they do not have the original note iam confuse with this all processand dont known what to do ialso receive aletter from an encore company saying they are suing me for the principal that i owe ijust wishthey was-trutworthy instead of playing all these gamed with folks that paid their billsall there lifeand are now in crisis is thereany consumers protection agencies where we can go to or complain because the media are not really talkingabout these issues to us about foreclosure and our rightscountrywide and others did commit fraud and no one are held responsiblesevery body seem to get helpthe bank the servicer fannie mae the one that did the triple a ratingand all that profit and those that closed their eyes in the govand now all they want to is repossed our home and its business as usual for them and a castastrophy for us poorand old is it true thatit is legallyimpossibleto forecloserealestatewithoutthe promissory note even if you have thedeed of trust i just wish i had the money to seek justiceand how the people inthe governement like sec and fdic let allof these crooks get away with thesetricksand dont provide help for us please help or give advice if you can god bless

  6. A realtor who read my posts below contacted me and gave me some info…below is from an email I sent to this realtor, thanking the realtor for the info–the document referred to in the email is svc1005DOTpdf…you can find it at efanniemaeDOTcom…apparently Fannie Mae was beta testing what has now become its new policy in states like mine (MS) in which they figured no one would challenge them…

    “I’m glad you attached that servicer manual change from Fannie Mae–being a realtor, do you have a copy of it?…

    At any rate, the procedure for foreclosure they described in the manual is exactly what they did to me–had the servicer “prepare a mortgage assignment from MERS to the servicer, and then bring the foreclosure in its [i.e., the servicer’s] own name.” That section of the policy change is invaluable to me, since it very succinctly and in no uncertain terms makes a big part of my argument for me, to wit:

    a. Fannie establishes that they’re outlining this procedure to be used for mortgages “owned or securitized by Fannie Mae.”

    b. As I understand it, assigning such mortgages would necessarily mean that only Fannie Mae or investors in Fannie Mae-issued securities could be the proper party to legally assign the mortgages, because of the well-worn legal truism that “the mortgage follows the note,” and not the other way around.

    c. So by instructing servicers–who don’t own the notes, which is explicitly spelled out in point “a” above–to prepare assignments from MERS (who also doesn’t own the notes per point “a”) to themselves, Fannie is essentially inducing servicers to commit fraud, knowingly and openly. Fannie is saying to servicers, “we own these notes, but we want you to act like MERS does and that MERS is then assigning the mortgage to you–and it won’t be any actual employee of MERS that does this, it will be one of your employees [that does it].”

    This fits what they did to me EXACTLY! BoA even admitted in its answer to my complaint that Fannie Mae held the note even though in the notice of sale a few days earlier, BoA said it was the legal holder of the note…”

  7. ReconTrust filed a NOD on behalf of BAC “servicer” for GRS Mort. Trust 2003-9, seven days later filed an assigment to GSR Mort. Trust of the deed of trust and note dated 8-13-03. I had no notice of GRS or Reontrust until seven years later. It looks like BAC assigned a note in2010 that they sold in 2003. It also appears a pattern of fraud is occuring with all of us as their victims. If anyone knows what GSR Mortgage stands for please inform. I any one is interested in exposing the pattern let me know. I have 40 days before the notice of sale. I’m also pursuing this pro se. good luck to all and hope to hear from you.

  8. i have a letter from tha lawyer for their firm telling me that MERS owns my note. and then they filed notice of trustee sale. b of a had to stop becaue of countrywide settlement.

    today BofA offered permanent loan mod- none of the details though

  9. Valery,
    I sent them a debt validation letter which they ignored. I went down to the county courthouse to see what assignments if any, had been filed. I found it, saw that it was clearly bogus (thanks to livinglies), and hired a lawyer to get a temporary restraining order to stop the sale. To my surprise, the order was granted and the sale was postponed. This was done only 15 days before the sale.

    I can tell you more about it at mreggs@eggsistense.com.

  10. HELP

    I just got a Notice of Trustee from these guys for my ex’s loan. I am soley on title, but never received a default notice. What if anything are you all doing to fight these guys??? My sale date is 4/27/10 and I just round this posted on my door yesterday!

  11. Oh, now I see where the 12 employee figure came from. Do you think that’s all their employees or just the ones registered on spokeDOTcom? This an invaluable post for me, Neil!

  12. USE RATIFICATION TO DEFEAT THE FACT RECONTRUST DID NOT ORIGINATE THE LOAN. THAT IS, RECONTRUST FUNDED THE ORIGINATOR BY BUYING THE LOAN ALMOST IMMEDIATELY. PLUS, NOTE THE RECENT SOLICITATION RE REFINANCE, SANS DISCLOSURE, ALSO CONSTITUTES RATIFICATION.

  13. Recontrust is a defendant in my lawsuit. They were the original trustee listed on my deed of trust. They were “re-appointed” as trustee for foreclosure purposes by a BAC Home Loans Servicing employee named Jill Arnold. This “re-apppointment” was the only document she signed related to my foreclosure in which she did not pretend to work for MERS or Recontrust.

    I’m pretty sure she works for BAC because it turns out that an old friend of mine works for Bank of America in trustee relations, and this friend’s name appears on notices of sale I’ve seen online as an “assistant secretary” of Recontrust, even though my friend says she works for Bank of America. So I assume that Jill Arnold really works for BAC–she has to, since Recontrust is a shell corporation.

    I’d like to know more about Recontrust only having 12 employees, as this will be very useful in my suit…which I am continuing pro se.

  14. Yeah, I’m dealing with them now (or trying to…they just don’t care like the the others they are a subsidiary of).

    You really think they are part of the web of companies just because they have the same address as Countrywide, now Bank of America, America’s Wholesale Lender, RECONTRUST (notice the word “CON” in it…), BAC Home Loans Servicing, LP, Bank of America Home Loans, and the other million or so of them. (indeed they are Neil!)

    BTW, on our situation, RECONTRUST says that the “Creditor” (and capitalized) for our home loan is BAC Home Loans Servicing, LP…first time we’ve heard of this, particularly in light of the alleged assignment by MERS to BONY Mellon after RECONTRUST recorded the NOD as agent for MERS and subsequently substituted as trustee…it bloody never ends with these people!

    It is also interesting how …[t]he present beneficary under such deed of trust has executed and delivered to RECONTRUST COMPANY, N.A. (yet another typestyle/name for them) such deed of trust and all documents evidencing obligations secured thereby…” but you can’t get them when requested to anyone through a QWR.

    If there is a championship trophy for winning the shell game awards, they’ve got my vote!

    I guess conspiracy doesn’t apply when the golden rule is in play (those with the gold, make the rules!)

    Charles

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