DISCOVERY AND PRACTICE TIPS: SEC RULE DISCLOSURE DOCUMENTS Carrington Mortgage – Stanwich – EMC Mortgage Corporation – New Century Mortgage Corporation (“NCMC”

FROM drhDe.u5a.htm

This is both a HERS post and a general post for those seeking discovery of documentation. You can Google this information also. This is also what I am asking all of you to send in to me for posting. I’m backdating the HERS posts like this generally to February and March so as not to crowd out current articles but if you look at the search index and bring up “HERS or even the particular name of an institution or unfamiliar name of an individual company or institution it will come up with increasing frequency as we expand this aspect of the blog.

DISCOVERY: You ask for all SEC filings including but not limited to 8k filings and back-up documents, custodians of those records, and people with personal knowledge of the information contained in those filings, together with their names, addresses, phone numbers, title, scope of duties etc. Then you call them and ask them what they know where there are other documents. Note these are words of art and have a general meaning that cannot be disputed in the industry. CFR= Code of Federal Regulations

EMC Mortgage Corporation transferred the servicing of mortgage loans with respect to the Carrington Mortgage Loan Trust Asset-Backed Pass-Through Certificates, Series 2007-HE1, to Carrington Mortgage Services, LLC. Prior to November 1, 2007, the Mortgage Loans were serviced by EMC Mortgage Corporation pursuant to the Pooling and Servicing Agreement, among Stanwich Asset Acceptance Company, L.L.C., Wells Fargo Bank, N.A., EMC Mortgage Corporation, Carrington Mortgage Services, LLC and HSBC Bank USA, National Association, a copy of which was filed as Exhibit 10.1 pursuant to Form 8-K on July 27, 2007 under the same Central Index Key (CIK) as this periodic report on Form 8-K (the “Pooling and Servicing Agreement”). On and after November 1, 2007, Carrington Mortgage Services, LLC will service the Mortgage Loans pursuant to the Pooling and Servicing Agreement. These are the SEC entries of data relating to this event.

STANWICH ASSET ACCEPTANCE COMPANY, L.L.C., on behalf of Carrington Mortgage Loan Trust, Series 2007-HE1 Asset-Backed Pass-Through Certificates

(Exact name of registrant as specified in its charter)

SEC File 333-139507-02

Carrington Mortgage Loa..2007-HE1

8-K{6

Mayer Brown & Platt/FA

11/01/07

Carrington Mortgage Loan Trust/Series 2007-HE1

STANWICH ASSET ACCEPTANCE COMPANY, L.L.C.

STANWICH ASSET ACCEPTANCE COMPANY, L.L.C. (as depositor under a Pooling and Servicing Agreement, dated as of June 1, 2007, providing for, inter alia, the issuance of Carrington Mortgage Loan Trust, Series 2007-HE1 Asset-Backed Pass-Through Certificates)

(Commission File Number)333-139507-02

Delaware

(IRS Employer Identification No.) 20-2698835

Seven Greenwich Office Park
599 West Putnam Avenue

Greenwich, Connecticut

06830

(203) 661-6186

Rule 425 under the Securities Act (17 CFR 230.425)

Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Written communications pursuant to Rule 425
Pre-commencement communications pursuant to Rule 14d-2(b)
Pre-commencement communications pursuant to Rule 13e-4(c)
Item 6.02.  Change in Servicer or Trustee

Carrington Mortgage Services, LLC (“CMS”) is a Delaware limited liability company and a wholly-owned subsidiary of Carrington Capital Management, LLC. CMS maintains its executive and principal offices at 1610 E. St. Andrews Place, Santa Ana, CA 92705. Its telephone number is (949) 517-7000.

On June 29, 2007, CMS acquired substantially all of the servicing assets of New Century Mortgage Corporation (“NCMC”), an indirect wholly-owned operating subsidiary of New Century Financial Corporation (“New Century”) as provided in the prospectus filed pursuant to Rule 424 of the Securities Act of 1933, as amended, on July 11, 2007 under the same Central Index Key (CIK) as this periodic report on Form 8-K (the“Prospectus”)

DISCOVERY HINT. IN ORDER TO GET APPROVALS THEY HAD TO SUBMIT FORMS (APPLICATION ETC.). ASK FOR THOSE FORMS AND THE DISCLOSURES ON THOSE FORMS FROM BOTH THE COMPANY YOU ARE SEEKING INFORMATION ABOUT AND THE AGENCY UNDER THE FREEDOM OF INFORMATION ACT. CMS has the approvals necessary to service mortgage loans in accordance with the related servicing agreements. CMS is qualified to service mortgage loans on behalf of Freddie Mac, a corporate instrumentality of the United States, and has received the approval of the Secretary of Housing and Urban Development to service mortgage loans. CMS has received approvals from the rating agencies with respect to the acquisition of the servicing platform. The residential mortgage servicing operations of CMS are currently rated -RPS4” by Fitch Ratings (“Fitch”). PRACTICE HINT: FILE AN ADMINISTRATIVE GRIEVANCE WITH THE AGENCY REGARDING THE VIOLATIONS YOU ARE ALLEGING. IN MANY CASES IT IS QUICKER AND THREATENS THE ABILITY OF THE SERVICER TO CONTINUE BUSINESS. DISCOVERY HINT: ASK FOR MATERIAL SUBMITTED FOR RATING FROM BOTH THE COMPANY (ISSUER) AND THE RATING AGENCY. SUBPOENA IF NECESSARY. DO DEPOSITIONS UPON WRITTEN QUESTIONS ON RATING AGENCIES AND GOVERNMENT AGENCIES TO ESTABLISH POINTS THAT YOU FEEL WILL BE UNCONTROVERTIBLE ONCE ENTERED INTO THE RECORD. PRACTICE HINT: IN ORDER TO DO THAT YOU WILL PROBABLY NEED TO FILE A MOTION TO TAKE THE DEPOSITION IN LIEU OF LIVE TESTIMONY THUS GIVING THE OTHER SIDE AN OPPORTUNITY TO CROSS EXAMINE THE WITNESS EITHER LIVE OR IN PERSON. YOU COULD ALSO TAKE THE BETTER ROUTE OF GETTING THE DEPOSITION DONE BY TELEPHONE OR VIDEO BUT THESE CAN GET EXPENSIVE. EITHER WAY MAKE SURE EACH DOCUMENT IS SPECIFICALLY LABELED AS AN EXHIBIT AND EVENTUALLY BATES STAMPED. START CREATING AN INDEX OF EXHIBITS WITH SHORT SUMMARIES OF WHAT YOU WANT TO SUE THEM FOR IN WORD FORMAT OR SOME OTHER SPREADSHEET OR DATABASE FORMAT SO THAT YOU CAN DO EASY SEARCHES. PRACTICE HINT: THE LONGER YOU MAKE THE JUDGE WAIT FOR THE PRODUCTION OF THE DOCUMENT, THE LOWER YOUR CREDIBILITY. SHUFFLING PAPERS AROUND MAKES IT LOOK LIKE YOU MAY NOT KNOW WHAT YOU ARE TALKING ABOUT AND THAT YOU ARE UNPREPARED.

Stanwich Asset Acceptance Company L.L.C.
By:
Name:  Bruce M. Rose
Title:  President



4 Responses

  1. Home | Previous Page

    SEC Seeks Public Comment on Asset-Backed Issuers and Mortgage-Related Pools Under Investment Company Act
    FOR IMMEDIATE RELEASE
    2011-176

    Video: Open Meeting

    Chairman Schapiro discusses asset-backed issuers and mortgage-related pools:
    Windows Media Player
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    Text of
    Chairman’s statement Washington, D.C., Aug. 31, 2011 – The Securities and Exchange Commission today voted unanimously to request public comment on the treatment of asset-backed issuers as well as real estate investment trusts (REITs) and other mortgage-related pools under the Investment Company Act.

    Through an advance notice of proposed rulemaking, the SEC is seeking public input on possible amendments the agency might consider proposing to Rule 3a-7, which excludes certain issuers of asset-backed securities from having to comply with the requirements of the Investment Company Act. An advance notice of proposed rulemaking provides the public the opportunity to weigh in even before the SEC develops a formal rule proposal.

    Through a separate concept release, the SEC is seeking public interpretations of a provision in the Act – Section 3(c)(5)(C) – that may be used by some companies engaged in the business of acquiring mortgages and mortgage-related instruments such as some REITs. A concept release is a Commission-approved document that poses an idea or ideas to the public to get their views.

    “We are inviting public comment in light of the significant developments in the asset-backed and mortgage markets. We want to assure that our regulatory approach is updated to reflect the current market environment while still meeting our investor protection goals,” said SEC Chairman Mary L. Schapiro.

    Public comments should be received within 60 days from the date of publication in the Federal Register.

    # # #

    FACT SHEET
    Asset-Backed Issuers and Mortgage-Related Pools Under the Investment Company Act
    Background
    Asset-backed securities are created by buying and bundling loans or interests in loans – such as residential mortgage loans, commercial loans, or student loans – and creating securities backed by those assets that are then sold to investors.

    Under the Investment Company Act, entities that issue asset-backed securities typically meet the definition of “investment company,” thereby requiring them to comply with the provisions of the Act. In 1992, however, the Commission adopted Rule 3a-7 under the Investment Company Act, which specifically excludes some asset-backed issuers from the definition of “investment company” provided they meet certain specified conditions.

    One of the conditions is that the asset-backed securities generally be rated by a nationally recognized statistical ratings organization (NRSRO) – but the condition was not primarily intended as a measure of credit-worthiness of the issuer. Instead, the Commission included the credit rating condition because it believed that as part of the ratings process, the rating agencies assessed the issuer’s investor protection measures.

    In the aftermath of the recent financial crisis, the Commission has engaged in various regulatory initiatives to address concerns raised by credit rating procedures and methodologies.

    Advance Notice of Proposed Rulemaking
    The Advance Notice of Proposed Rulemaking would solicit public comment on possible amendments to Rule 3a-7 including the role, if any, that credit ratings should continue to play in the rule.

    The Advance Notice asks about:

    Revising the Conditions in the Rule: To be able to use Rule 3a-7, an issuer must meet the rule’s conditions including the existing rating condition. The Advance Notice seeks public input about possibly removing the rating condition and replacing it with new conditions. Rather than rely on rating agencies to assess the issuer’s structure and operations, such new conditions could address the structure and operations of asset-backed issuers. Possible new conditions also could require the issuer to undergo an independent review to protect investors in the asset-backed securities from self-dealing and overreaching by insiders. Additional possible conditions could help ensure that the issuer preserves and safeguards its assets and cash flow.

    How the Rule is Used: Rule 3a-7 excludes from the definition of “investment company” any asset-backed issuer that holds specified assets and meets the rule’s conditions, so that the issuer does not have to comply with the requirements of the Investment Company Act. The Advance Notice asks whether Rule 3a-7 issuers should still be considered “investment companies” for the limited purpose of determining whether an entity investing in Rule 3a-7 issuers is itself an “investment company” that should comply with the requirements of the Investment Company Act.

    Availability of Section 3(c)(5) to Asset-Backed Issuers: The Investment Company Act contains a provision – Section 3(c)(5) – that may be used instead of Rule 3a-7 by some asset-backed issuers, including certain issuers of mortgage-backed securities. This provision was not specifically intended to be used by asset-backed issuers. The Advance Notice asks whether Section 3(c)(5) should be amended to limit the ability of asset-backed issuers to rely on that section, or whether the Commission should use its rulemaking authority to define the relevant terms in that provision so as to limit its availability to those companies that are intended to be encompassed by that section.

    Mortgage-Related Pools
    Background
    Companies that are engaged in the business of acquiring mortgages and mortgage-related instruments have been relying on a provision, Section 3(c)(5)(C) to be excluded from the definition of “investment company” and consequently from the requirements of the Investment Company Act.

    Section 3(c)(5)(C) was enacted to exclude from the definition of “investment company” companies that were engaged in the mortgage banking business and were not considered to be in the investment company business. Since Section 3(c)(5)(C) was enacted in 1940, the mortgage markets have evolved and expanded, and the provision has been used by a wide variety of types of pooled vehicles and other companies unforeseen at the time of enactment. These issuers include certain mortgage-backed securities issuers and certain REITs.

    The SEC is concerned that mortgage-related pools potentially are making judgments about their status under the Investment Company Act without sufficient SEC guidance on the interpretive issues that arise under that provision. The SEC also is concerned that certain mortgage-related pools today appear to resemble investment companies such as closed-end funds and may not be the kinds of companies that were intended to be excluded under this section.

    Concept Release
    The companion Concept Release solicits comment on the interpretive issues relating to some REITs and other mortgage-related pools that rely on the Section 3(c)(5)(C) exclusion.

    The Concept Release provides an overview of mortgage-related pools and requests data and comment on their management styles, corporate governance, and similarities to traditional investment companies. It also discusses the legislative, administrative and interpretive background of Section 3(c)(5)(C).

    The Concept Release asks, for example, whether a test could be devised to differentiate companies that are primarily engaged in the real estate and mortgage banking business from those companies that look like traditional investment companies, and what factors should the Commission consider in such a test.

    What’s Next?
    Both releases will be published in the Federal Register and commenters will have 60 days from the date of publication to submit their comments.

    http://www.sec.gov/news/press/2011/2011-176.htm

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    Home | Previous Page Modified: 08/31/2011

  2. sECOND COMPLAINT FOR FRAUD, BREACH OF GOOD FAITH AND FAIR DEALING, UCL, CALIFORNIA 2923.5 ,2924, AND 2934 ETC, ONEWEST,MERS, DBNTC

    http://www.scribd.com/doc/29625337/Second-Amended-Complaint-Exhibit-1-5-April-8-2010-davies-v-ndex-deutsche-bank-universal-american-mortgage-company-onewest-mers

  3. Brian,
    Thanks for posting your documents for all of us to read! You are doing us all a great service–good luck to you!

  4. Hi all,
    I am in a cat fight in California with now discovery compel motion for NDEX to produce documents. they have opposed this request and have fought all along the way.
    The complaint is in Scribd under b.daviesmd6605.
    Here is the reply to the opposition with documents. These people will not tell the truth. The reply is:
    http://www.scribd.com/doc/29926545/Plaintiff-reply-to-opposition-for-evidence-hearing-davies-v-ndex-ONEWEST-DBNTC-UAMC-MERS-INDYMAC-BANK-FSB-COLONIAL-BANK
    it is funny that these people have canned responses and now they are off their game. I don’t think many make it to discovery let alone a hearing on a motion to compel these bad actors. This reply has facts and just happended to add the WSJ article at the end of the exhibits on LPS DEFAULT and DOCX

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